Rebound strongly from the 2360 bottom after a relative momentum decline in the price decline with the end of the previous wave
The price tests the first target range for the rally compared to its previous wave movements at 2450
More Buy Pressure Supports access to the second expected range at 2490/2500 in line with the 100 MA (on the 2 hour frame) and the...
The $1400/$1410 barrier is strong resistance since August 2013
Looking closer to the current medium- to short-term moves(H1 time frame) we notice a decline in the positive bullish momentum
And a relative slowdown in the pace of the rise - especially the recent wave
This supports the notion of a bearish rebound even if it is correct towards 1380 levels
Gold in the medium to long term
I still see the possibility of continuing the current bullish wave to $1450 , especially with the negative pressure expected for the US dollar for the coming period with Fed is awaiting the next economic data and suspending talk about rate cuts
As well as current political tensions
Technically and measured on previous moves the...
On the Daily - Linear Chart to reduce price noise
The price is testing the lowest since the beginning of the year at 107.50
With a decline in negative bearish momentum = expectations of a recovery even if corrective
On the hour as an attempt to benefit from the expected short-term uptrend
We will not exaggerate the profit level of the deal
With the price being...
Expected Wave Analysis Scenario For long-term crude oil movements
I see more price declines coming in the next period
The current bearish wave may reach $ 50 a barrel before the rising correction wave
Waiting for the next price behavior to confirm it
On the medium to long term, and from the bottom 2 last March at 144.88 and the pair moves in driving and overlapping wave corrections down to the top of 153.83 before Rebound down to correction
The price has formed during the downtrend from the top two waves, currently the price is likely to end the second, which is a correction of the first wave in preparation...