Monthly chart: meanwhile the price is going up to 1212.1. Formation of downward reversal signals is highly probable here (ADX is moving down). Bullish support is based on the the middle Bollinger band (1801.8)
Weekly chart: bullish pressure is still here, so we expect the price reaches 1212.1.
Day chart: local levels of support and resistance are - 2051.1 and 2086.9. Breakthrough will move the index to 2121.1
Conclusion: so, we expect = the growth to 2121.1. Preliminary local trading is possible within the range 2051-2086.
Monthly chart: so, key support point is 67.45. If it does not keep the oil, it will get down to 51.87, and then to 35.00 (red arrow). If support is justified by demand, rollback to 90.00 is possible, from where it will drop though. Based on ADX, we can forecast direct decline of the price as the main scenario.
Weekly chart: similar situation. There are two plans (direct decline either rollback to 90.00)
Day chart: bullish convergence of the oscillator increases the probability of upward move.
Conclusion: main scenario is continuation of decline to 51.87. Another option is the start of upward move to 90.00
Monthly chart: resistance 1155.54 is justified, so price may grow to 1331 per ounce.
Weekly chart: bullish divergence also speaks for growth to 1331.19. However, there is resistance based at 1236.94
Day chart: here is even better expressed resistance at 1221.88. Support is - 1154.96. There is a high probability of touching this support with the purpose of making purchases.
Conclusion: so, we are waiting when the point 1155.00 is touched and growth to 1221.88 is reached with the threat of breakthrough. Growth to 1331 is expected in the middle run.
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