Gold prices rose and reached the resistance level of 1856.15, after which it rebounded with a correction of the descending path to the support level of 1840.00, where the price is approaching the moving averages, which form the first support levels for it.
The lower correction movement comes under the …
#RRC
The general trend is ascendant. The descendant wave structure is truncated. Bears have tested the lower border of the ascendant price channel. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy when the ascendant wave structure forms, where the wave (A) breaches through the …
The ascendant wave structures are truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.
Target levels: 1.2859; 1.2550.
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