Daily reviews

The price of gold declined significantly during yesterday's and today's trading, breaching several support levels, and reaching the target 1810.90 with the opening of today's trading, then rebounding to the level of 1827.20.

Therefore, the price has stopped the bullish movement that we talked about in the previous report, and …

There is nothing new about the movement of the pound sterling against the dollar, as it continues its bearish movement and managed to break the 1.2190 support level, then returned to test it as a resistance level for the moment of writing this report. Therefore, the bearish scenario will continue, …

The EUR/USD pair continues its bearish movement after it broke the support level 1.0475 and settled below it. Therefore, it opens the way to complete the bearish scenario, which we talked about in the previous report, with the aim of reaching the support level 1.0340 and trying to break through …

The general trend is ascendant. The descendant wave structure has finished breaching the inclined channel. The “start fractal” formed above 135 EMA. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when level 1.1097 is breached.

Stop-loss: 1.1044.

Target level: 1.1162.

Silver historical support level 21.43 restrains sellers. The reverse pattern Pin Bar with a false breach is forming. Awesome Oscillator indicates bullish divergence, and averages of Stochastic Oscillator have exited the oversold area.

Trading idea:

Buy at the session opening on Monday, if the pin bar preserves.

Stop-loss: 21.256.

Target …

The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The entry point on the B pullback is forming.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss …

News of the day, Friday, June 10

Oil prices slipped a little today, as new COVID-19 lockdowns occur. Brent crude futures are down 0.3%, and WTI crude slid 0.2%.

Asian stocks followed a global sell-off with MSCI’s broadest index outside Japan falling 0.9% and Japan Nikkei 225 falling 1.4%.

The …

#CITIC

The share is traded between 365 and 135 downbound moving averages. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions. The inclined channel of the ascendant structure is breached.

Trading idea:

Sell when the descendant wave structure forms.

Stop-loss: 17.50.

Target levels: 16.20; 15.58.

#JIANGXI

The share is traded between 365 and 135 downbound moving averages. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant structure forms, where the wave (A) breaches through the inclined channel of the ascendant structure.

Stop-loss: 13.01 (over the local maximum …

The trend is ascendant. The currency pair is traded in the descendant price channel’s lower border span. 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: 1.4659.

Target levels: 1.4716; 1.4768.