The trend is descendant. The ascendant truncated wave structure of the H2 level is finished with breach of pivot 2 of wave C. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when level 1.1984 is breached.
Stop-loss: 1.2046.
Target levels: 1.1925; 1.1806.
Oil prices slid more than $1 today ahead of expected builds in U.S. crude inventories. Brent crude futures fell 1.4%, and WTI crude futures slumped 1.3%.
Key tickers:
Brent: 106.18 — sell.
WTI: 99.34 — neutral.
NG: 7.254 — neutral.
The U.S. dollar edged lower …
Gold could not break the resistance 1717.00, as it tested it yesterday and failed to breach it, after which it rebounded lower and returned to resume the descending path and approached the target 1700.00 again, especially as the price moved below the moving average level.
The bearish bias will be …
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