The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence. The support 0.8468 restrains buyers.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.
Stop-loss is over the resistance level 0.8468.
Target levels: 0.8433; 0.8411.
Commodities market
Oil prices rose today yet stayed below the $100 mark as both tight supply and recession risks influence the market. Brent crude climbed 0.7%, and WTI crude 0.6% up.
Key tickers:
Brent: 98.81 — strong sell.
WTI: 95.36 — strong sell.
NG: 6.672 — strong buy.
Foreign exchange …
Gold continues its lower movement after breaching the 1730.00 level and is heading steadily towards the next target for the price movement at the level of 1700.00, and the bearish movement is likely to extend to the main support 1680.00.
Technical indicators support the bearish scenario, as the moving averages …
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