Daily reviews

The general trend is descending. The ascending wave structure of the H4 level is truncated. The currency pair trades in the range of the upper border of the descending price channel. The Awesome Oscillator indicator has bearish divergence, and the Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell on the …

Commodities market

Oil prices rose for a second day as concerns about supply tightening increased. Brent crude futures rose 1.6%, and WTI crude futures rose 1.5%.

Key tickers:

Brent: 102.14 — strong buy.

WTI: 98.61 — strong buy.

NG: 8.686 — strong buy.

Foreign exchange market

The dollar was down …

Gold confirmed breaking the resistance level 1718.00 and approached the next target with the closing of last week's trading, as it reached the level of 1739.18 last Friday. Then it formed a slight correction and is trading today around the support level 1725.00.

The moving averages support the price to …

The pound against the dollar continues to move sideways around the resistance level 1.1990, as it tried to close above this level last Friday. Today's trading opened with a bearish price gap below the mentioned level.

The moving average 50 supports the bullish scenario, as it forms a support level …

The EUR/USD pair has continued to move sideways since last week, as it moves between the levels 1.0250 as a resistance level and the level 1.0170 as a support level.

Closing last week's trading above 1.0200 and stabilizing today's trading above this level will reinforce the idea of the bullish …

#MCD

The share is traded in the resistance level 256.80 span. The ascendant wave structures have finished breaching the inclined channel. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when level 252.23 is breached.

Stop-loss: 256.80.

Target levels: 247.20; 242.20.

The general trend is descendant. The ascendant truncated wave structure has finished breaching the inclined channel. The currency pair is trading in the upper border of the descendant price channel. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when level 0.6877 is breached.

Stop-loss …

Commodities market

Oil prices dropped today, extending the previous decline, as an expected interest hike rise in the U.S would weaken fuel demand. Brent crude is 0.7% down, and WTI crude slid 0.8%.

Key tickers:

Brent: 97.10 — strong sell.

WTI: 93.41 — strong sell.

NG: 8.230 — neutral.

Foreign …

Gold prices rebounded from the main support level 1680.00, tested yesterday, and then rebounded strongly to the resistance level 1717.30, bypassing several resistance levels. Therefore, the way is open to reach the target at the value of 1725.00 if the price manages to break the resistance 1717.30.

The bullish bias …

The pound against the dollar continues to move sideways below the resistance level 1.1990 with a slight tendency to the downside, where the movement stabilized between the mentioned resistance and the moving average 50 from below.

The stochastic indicator gives a negative signal for the movement, so we may see …