Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.
Gold: bulls started to lose
On the daily chart, bulls keep trying to return the prices inside the previous uptrend channel. Gold price formed an inside bar and doji. This points at uncertainty. Buyers’ success will allow us to expect a resumption of an uptrend, while their failure will trigger a correction.
On H1, the prices reached 200% target of AB=CD and finished forming the “Widening wedge” pattern. The break of support at $1263 an ounce will open the way down to $1257 and $1248.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.
Recommendations: BUY 1302 SL 1287 TP1 1…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.