Gold, crude oil, and EURUSD are still above their long term support with indications of bottom formation. The current levels are crucial and if a bounce does not take place at these levels, then a long term downtrend may be expected, though we are still holding positions.
This weekly Trend Analysis table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.
Abbreviations used -
- PCP = Previous closing price
- S2 = Second support, S1 = First support
- R1 = First resistance, R2 = Second resistance
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