Gold's upside move could end shortly, forming an intervening wave x that could be followed by either an ending zig-zag or an ending triangle pattern.
The successful correction could turn the current structure into a triple combination!
Look for potential invalidation above 1519/oz.
Trade safe
Stavros Tousios
Head of Investment Research
Orbex
This analysis is...
In today’s market insights I talk about how the latest trade war and API developments affected the prices of gold and oil.
Gold appreciated while trade optimism increased! That was owed to poor US data, however! But I do expect the upside to be limited!
Crude, although supported by positive trade ware narratives, ended the session muted as bullish flows were...