Gold price reached the next middle-term buy target, Target Zone 6
USCrude – oil
Oil broke through the local low of last week yesterday. Traders are trying to break out Target Zone 2 [53.58 – 53.21] and consolidate the price below. If they succeed, the next downside target will be Target Zone 3 [49.93 — 49.56].
The short term downtrend has worked out its targets; the low of August 1 and Gold Zone [53.25 – 53.07] were reached yesterday.
Nonetheless, the downtrend continues, so, any correction towards the strong resistances should be first of treated as an opportunity to enter…
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