XAUUSD Gold Price Following Elliott Wave Ending Diagonal: Sell at 1897-1900 and Retrace
Gold has formed an Elliott Wave pattern called the Ending Diagonal, which occurs at the end of a trend and forecasts a price decline. This pattern will be confirmed if the price rises to 1897-1900 and then retraces. Strategy for the upcoming week, the SELL scenario may be feasible if the price reaches 1897-1900 and retraces below 1870, which will confirm that this pattern has completed.
WTI Oil Price May Extend Downtrend to 55-56 USD/Barrel
WTI Oil has broken through 61.2 USD/barrel and may extend the downtrend to the previous low at 55 USD/barrel. Strategy for the upcoming week is to look for sell opportunities with a stop loss if WTI Oil rises above 63 USD/barrel.