The overall trend is upward. The Stochastic Oscillator shows oversoldness. Breaking through the resistance level 763.42, will result in the formation of an upward wave pattern within the upward wave from the D1 level.
Trading recommendatons:
Buy Above 763.42.
Stop Loss – 746.85.
The target is 798.50.
Move to breakeven …
Gold prices are correcting upwards against the backdrop of the continuing US-China trade talks. Gold can recover locally, but it will remain under pressure in the future, as the US-China trade agreement will be eventually reached.
The price is below the middle Bollinger bands, at SMA 5, but below SMA …
The support level of 0.6768 holds back sellers. A bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator signals oversoldness. A descending truncated pattern formed on H8 level.
Trading recommendations:
Buy while an ascending wave pattern is forming, where the wave (AC) breaks through the inclined channel …
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