Updated: Jun 29
Based on the Commitments of Traders data reported on: June 14th 2022
#GOLD waiting on this chart to present itself with more downside momentum. Would need to see a daily downtrend for momentum to be sustainable.
#OIL the daily chart of #oil is showing us some bearishness from the supply area we had mapped out. We suspected we might see price drop below the ALERT line at 107.65 before the months end and it’s in the process right now.
$EURUSD price dropped from the weekly supply and we had pointed out that the 4H chart had a lack of proper momentum shift to the downside so we were skeptical of how committed this move lower would be.
#USD price failed to contact the weekly demand – although it did contact weekly zone on the $eurusd – and now we can see that price failed to close above the previous high which is a sign of weakness.
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