Daily reviews

#MT

One of the world's largest steel producers, ArcelorMittal SA, intends to close two plants in Germany due to a sharp rise in electricity costs. 

The trend is downward. On the H4 timeframe chart, an "inside bar" reversal pattern has been formed. Awesome Oscillator indicator shows bearish divergence.

Trading idea: …

A triple top pattern has formed on the H4 timeframe. The ascending wave structure is truncated. Awesome Oscillator indicator shows bearish divergence. 

Trading idea:

Sell on the breakout of 142.46.

Stop Loss: 143.39.

Target levels: 141.50; 140.54.

The NZD index tested the support level of 60.58, and the dollar index tested the level of 109.80, which was formed exactly 20 years ago — September 2, 2002.

The currency pair's descending wave structures are truncated. The Awesome Oscillator indicator has a bullish divergence, and the Stochastic Oscillator indicator signals …

The currency pair is trading below the Ichimoku cloud, indicating a downtrend. The ascending wave structures are truncated. The inclined channel of the internal truncated structure has been broken. The Awesome Oscillator indicator has a bearish divergence, and the Stochastic Oscillator indicator signals overbought.

Trading idea:

Sell on a breakout …

#ORA

The general trend is downtrending. The ascending wave structure has ended with the breakdown of the inclined channel. Awesome Oscillator indicator shows bearish divergence, and Stochastic Oscillator indicator signals overbought. A breach of 10.154 will give rise to the formation of a downward wave structure. 

Trading idea:

Sell on …

The downward truncated wave structure ended with the breakdown of the inclined channel. On the indicator Awesome Oscillator, there is a bullish divergence. On the H4 timeframe, there is a "key reversal" pattern with a false breakout.

Trade idea:

Buy on the breakout of 11.4780.

Stop-loss under the support level …

The downward truncated wave structure has ended with the breakdown of the inclined channel. Awesome Oscillator indicates bullish divergence. On the H4 timeframe, a key reversal pattern has formed with a false breakout.

Trading idea:

Buy on the breakout of 11,480.

Stop-loss under the support level 11.3650.

Target levels: 11.580; 11.735.

The downward truncated wave structure ended with a break of the inclined channel. The Awesome Oscillator indicator has bullish divergence. The internal entry point "on a pullback B" is formed.

Trading idea:

Buy on a breakout of 161.71.

Stop-loss under the support level 161.31.

Target levels: 161.97; 163.50.

The ascending wave structure is truncated. The Awesome Oscillator indicates bearish divergence, and the Stochastic Oscillator indicator signals overbought.

Trading idea:

Sell on the formation of a downward wave structure, where wave (A) breaks the inclined channel of the upward truncated structure.

Stop-loss at the local maximum of the ascending …

Gold tested the resistance level 1779.40, as trading settled below it.

Stochastic is giving a positive signal that may push the price to test the level of the 20 and 50 moving averages.

In general, we will continue to suggest the bearish path as long as the price continues to …