Gold continues to move sideways between the support level 1827.20 and the resistance 1846.70, where it tested the mentioned support level yesterday, then bounced up to the resistance that it tested and failed to breach, to rebound downwards and is currently moving below the moving averages in an attempt to …
The general trend is ascendant. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.
Trading idea:
Buy when the ascendant wave structure forms.
Stop-loss: 0.9579.
Target levels: 0.9691; 0.9989.
News of the day, Wednesday, June 22
Oil prices lost more than $5 a barrel today as U.S. President Biden pledged to bring down fuel costs. WTI crude futures were down 5.46%, and Brent crude futures slid by 4.95%.
Asian stocks slipped on Wednesday amid persistent worries about monetary policy …
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