XAU/USD Trading Analysis (18/12/2024)
The trend is upward. Gold trades in a range between 365 and 135. The downward truncated wave structure ended with the breach of the sloping channel. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an oversold condition.
Trade idea:
- Buy on the breach of 2651.90.
- Stop-loss at 2632.70.
- Price targets at 2676.50 and 2720.00.
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