The descending wave structure is truncated. Pivot 2 of the descending (blue) structure is broken. Awesome Oscillator indicates bullish divergence, and the indicator Stochastic Oscillator signals oversold.
Trading idea:
Buy on a breakout of 0.8366.
Stop-loss: 0.8338.
Target levels: 0.8400; 0.8492.
Oil prices edged lower today as investors suggest a global manufacturing downturn as major crude producers meet this week to determine the supply volumes. Brent crude futures dropped 0.2%, and WTI crude futures slid 0.1%.
Key tickers:
Brent: 99.90 — sell.
WTI: 94.13 — neutral.
NG: 8.124 — …
Gold was able to break the resistance level at 1772.00, continuing the current bullish path, which is likely to extend to the level of 1783.00 as a first target. The moving averages support the price to continue in the bullish scenario as it moves below it within an ascending order. …
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