After an exhaustive trend downwards from an April high of 75.700, Brent lingers around a solid support level of 70.000 A perfectly timed descending triangle has formed for the Black Gold ahead of a breakout to the 72.450 level, retest 71.700 and daily target push toward 74.500/74.850 This move could prove in line with our USDNOK Trade
Pattern: Lower Highs on 1D. Signal: Bullish after a new Double Bottom on 4H. Target: 1280. This is the 0.618 Fibonacci retracement. Every previous Double Bottom formation rebounded to the 0.618 Fibonacci level.
Gold has been declining since mid February and the 1,346.79 High. If this pull back has been purely technical then the important test on the 1W chart has arrived as the price is on the Higher Low region. What is more interesting is that last time Gold tested a weekly Higher Low on a similar pattern was in December 2017 and the rebound was so strong that gave way...
Pattern: 1D Triangle. Signal: Bullish as the price has rebounded on a Higher Low. Also the 1D Support Zone is just below. Target: 1310 (Lower High). If the Triangle breaks higher then 1321 and 1345 can be used as extensions.
Pattern: Fibonacci retracement. Signal: Bullish either now (1D support) or on the 0.382 Fibonacci. Target: 2.96000.
Pattern: Extended Bullish Megaphone on 1D that is posting a repetitive High Low candle sequence after each Channel Up. Signal: Bullish but with a lower entry either at 56.00 or 54.50. Long term bullish break-out if the green line breaks (60.00 - 61.00). Target: 60.50.
XAGUSD is testing its resistance where we expect to see a reversal. XAGUSD is testing its resistance 16.20 (horizontal swing high resistance, 61.8% Fibonacci retracement ,61.8% Fibonacci extension ) where a reversal to its support at 15.51 (61.8% Fibonacci retracement ,100% Fibonacci extension ) Stochastic (21,5,3) is also approaching resistance where we...
Intraday target: $54.50 Long-term target: $27.00
Intraday target: $49.70 Long-term target: $27.00
URA Back in the buy zone and it will only be there for so long. Get it while you can.