The historical level 19.72 restrained sellers forming a multi-candle “triple bottom” figure. The descendant structures are truncated. The inclined channel of the descendant structure is breached. Awesome Oscillator indicates bullish divergence.
Trading idea:
Buy when the 20.080 level is breached.
Stop-loss: 19.720.
Target levels: 20.420; 20.800.
News of the day, Tuesday, April 19
Gold rises as investors strive for a safe-haven asset amid intensifying military assault in Ukraine and soaring U.S. inflation and recession risks. Gold has reached 6-week highs trading slightly below $2000. At the same time, the Dollar Index broke above 100 for the …
Gold started correcting the bullish path after reaching the target 1996.00 and is currently retreating to the support 1975.00 at the lower end of the ascending channel within which it is moving.
The price is moving around the 20 average, which constitutes its first support levels. The 50 average is …
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