Monthly: ADX has not reached the trend area yet, but is growing and conveys signals about accumulation of potential. So far, we can relate it this potential in favor of both bears and bulls with equal probability, because the oscillator has signs of divergence.
Weekly: a local support is at the middle Bollinger band (2107.3), from where the price is likely to take an attempt to grow to the upper band (2208.6)
Daily chart: at this local frame, the index stays within a horizontal range of Bollinger envelopes (2160.6 - 2193.8)
The main scenario - flat 2160.6 - 2193.8
The alternative scenario - drop to 2107.3
solutions: search for Buy signals around 2107.3 and 2160.6
Monthly: it seems that the resistance at the middle Bollinger band (51.72) is a stumbling block for the oil. If bulls take a break above, it can be considered a medium-term reversal in the upward direction 71.41 (upper Bollinger band). If sellers protect this level, we can see a new drop to 32.46 (bottom band).
Weekly: accumulation of volumes within a horizontal band 40.35 - 53.25 (Bollinger envelopes)
Daily chart: a local support is around the middle Bollinger band (46.76), from where a new ascending wave to 53.25 will take place.
The main scenario - growth 53.25
The alternative scenario - drop to 46.76 and only then growth to 53.25
solutions: search for Buy option from 46.76 to 53.25
Monthly: aggressive ADX, which can relate to both directions (with the obvious advantage of buyers - expanding envelopes and an attempt to break the upper Bollinger band). At the same time, a downward correction to 1195.91 (middle Bollinger band) is possible
Weekly: two local support points - 1292.11 and 1195.91, where a significant demand in gold can be focused.
Daily chart: a flat horizontal range 1318.44 - 1364.18 (threat of a drop to 1292.11 remains)
The main scenario - flat 1318.44 - 1364.18
The alternative scenario - drop to 1292.11
solutions: search for Buy options around 1292.11
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us