Forex Mini Account – Gold movement on graph hourly chart looks on bullish condition. Today’s preference for gold is bullish. If the resistance at 1306.38 breaks then it will open the chance for a bullish move up to 1310.81 – 1313.55. Stochastic and CCI are showing bearish signal and bearish divergence on hourly chart. As alternative scenario, watch that support area at 1294.78 – 1299.21 in order to look for buy signal confirmation with rebound target at 1301.95 – 1306.38.
Be careful if the support at 1294.78 breaks because it will turn the intraday bias to bearish and open the chance for a bearish move down to 1292.04 – 1287.61. In that case, the bullish scenario mentioned above may fail as intraday strategy.
Forex Mini Account - Bullish correction occurs on crude oil. Today’s preference is bearish. Technically, the stochastic and CCI are in overbought condition. Watch the area at 101.17 – 101.61 in order to look for sell signal confirmation with target 100.90 – 100.46.
Be careful if the resistance at 101.61 breaks because it will turn the intraday bias to bullish and open the chance for a bullish move up to 101.89 – 102.33. In that case, the bearish scenario mentioned above may fail as intraday strategy.