Oil (CL) Should See at Least 3 Waves Rally Soon

EURUSD edges lower on Wednesday after repeated failure to break 1.1200 barrier, but near-term action can be described as consolidation, as long as the price stays above first pivots at 1.1124/14 (trendline support/rising 10DMA) and 1.1100 (higher base/Fibo 23.6% of 1.0777/1.1201). Negative signals are developing on daily chart (14-d momentum diverged from the price and […]

Gold reversed from resistance area Likely to fall to support level 2350.00 Gold recently reversed down from the resistance area located between the pivotal resistance level 2440.00 (which stopped the previous waves 3 and 5, as can be seen below) and the upper weekly Bollinger Band. The downward reversal from this resistance area is likely […]

GBPUSD’s rebound off 200-day SMA still holds Stochastic in overbought area RSI ticks south above 50 level GBPUSD continues last week’s rebound off the 200-day SMA and the 50.0% Fibonacci retracement level of the up leg from 1.2300 to 1.3045 at 1.2670, but with some weakness today. The intraday bias looks neutral to negative, as the stochastic […]