Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
XAU/USD has reached resistance
2019-11-11 • Updated
BUY 1348; TP 1357; SL 1345
SELL 1335; TP 1326; SL 1339
XAU/USD reached resistance of the uptrend channel in the area of 1347. There’s a bearish divergence between the price and the oscillators on D1. This is a sign of the potential correction to the downside. Support lies at 1326 (previous high) and 1310 (trendline support). At the same time, the uptrend looks rather strong, so we can’t rule an attempt of buyers to test higher levels. The targets will lie at 1357/1360.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
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