Oil again cannot break (8/8) 34.38 resistance and today after decrease below Tenkan-sen 34.04 correction of last gains started. So far price stopped on first support level (7/8) 33.59 and if depreciation should be continued Kijun-sen 32.89 will be tested again. Only breaking (8/8) line will be a signal of going back to bullish trend.
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Correction on oil means decrease of DAX, these symbols are lately strongly correlated. The chart is getting close to first (6/8) support 9687. However huge distance from this line can force correction to Tenkan-sen 9589. Only if price will come back above (5/8) 9531 there will be a possibility of continuation of appreciation to (8/8) 10000.
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Decreases on oil and indices is a sign of gains on gold. On daily chart we still have buy signal: price stays above bullish Kumo, Kijun-sen and Tenkan-sen. On H4 chart situation doesn’t look so good because Chikou Span is below chart. Now we cannot exclude price going back to Tenkan-sen 1236,23 but only close above this level will decrease bearish power on gold.