Cisco share started correcting the bullish path after reaching the resistance 52.50, after it managed to confirm the break of the previous resistance level of 49.00 and rise above the top, thus confirming the bullish path after the decline that formed last week.
The price is trading …
Thursday, April 22nd, today’s news—European markets continue to rise, ECB meeting in focus. Asian markets also up, American stocks retreat, oil is down on pandemic concerns, dollar falls. The price of Brent oil is $64.87, WTI—$60.94, EUR/USD is at 1.2039, GBP/USD—1.3911, gold is $1,791.65 per ounce. Read the daily selection of analytical reviews …
The overall trend is upward. The descending wave truncated pattern (wave (C) didn’t breach 123.6% of wave A). A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition.
Trading idea:
Buy when an ascending wave pattern is formed, where the wave (A) breaches the inclined …
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