#MS
The descendant wave structures are truncated. The false breach of the descendant’s wave A pinnacle has happened, and the reverse pattern Pin bar has formed on the timeframe H4. Awesome Oscillator indicates bullish divergence, and stochastic Oscillator’s moving levels left the oversold area, forming bullish divergence.
Trading idea:
Buy …
The descendant wave structures are truncated. Pivot 2 of the main descendant structure is breached. The support level of 10.233 restrains sellers. Awesome Oscillator indicates triple bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy when the ascendant wave structure forms.
Stop-loss is under support level 10.233.
Target …
Commodities market
Oil prices rose today amid the outlook of a less aggressive rate hike in the U.S. Brent crude futures for September rose 1%, and WTI crude rose 0.7%.
Key tickers:
Brent: 98.81 — strong sell.
WTI: 95.36 — strong sell.
NG: 6.685 — strong buy.
Foreign exchange market …
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