Gold price declined strongly to surpass our first main target at 1780.25 and confirm opening the way to continue the decline, on its way to visit 1750.00 as a next negative target, noting that holding below 1780.25 represents initial condition to continue the expected decline.
The EURUSD pair declined sharply to succeed achieving our extended negative target at 1.0250 and settles around it, and we expect the continuation of the negative pressure to achieve more negative targets on the longer term basis, to head towards 1.0100 areas, noting that holding below 1.0355 is important to continue the expected decline.
Kohl's Corporation's stock (KSS) skidded after the stores chain said in ended acquisition talks with Franchise Group, sending the stock down 19.64%, or 7.01 points, and settling at 28.68, with trading volumes surpassing 33 million shares, above 10-day averages of 7.8 million shares.
The downward correctional trend dominates in the short term, with negative pressure from the 50-day SMA, piercing the support of 34.64, while the RSI reached oversold levels.
Therefore we expect more losses for the stock, targeting the support of 18.30, provided the resistance of 34.64 holds on.
Expected trend for today: Bearish
Micron Technology's stock (MU) declined in the intraday levels after the chips maker said last quarter financial results won't match expectations, with the stock tumbling 2.95%, or 1.63 points, settling at 53.65, with trading volumes surpassing 43.6 million shares, above 10-day averages of 20.8 million shares.
Technically, the stock is declining alongside the downward short-term trend line, with negative pressure from the 50-day SMA, piercing the current support of 53.60, amid negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the first support at 46.50, provided the support of 53.60 was breached.
Expected trend for today: Bearish