Gold continues to fluctuate sideways between the support level 1827.20 and the resistance 1846.70.
It returned to test the support and managed to breach it slightly, and we await confirmation of the break until confirming the start of the bearish path, which is likely to extend to the level of …
#JPM
The mirror level 111.45 restrains sellers. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence.
Trading idea:
Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.
Stop-loss: 111.45.
Target levels: 123.00; 128.56.
The general trend is ascendant. The currency pair is traded between 365 and 135 moving averages. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The inclined channel of the descendant structure is breached.
Trading idea:
Buy when level 85.080 is breached.
Stop-loss: 84.270.
Target levels: 85.80; 86.50.
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