Brent crude oil has 4 bullish steps although it may face with downside low prices, the targets are 62.243, 65.376, 68.729 and 68.466 dollars per barrel. Notice that touch of the price to each step means confirmation of the presumption for that step.
was looking at the set up for a while and found this nice Blue MAGIC channel for Brent's - see the chart. So, we are in the downward looking channel, that we have gone out and returned back to. usually, in that situation I would expect to reach the upped bound of this channel. hence, we are going towards 63.6-.8 on Brent (LONG) and what's higher I would see as a...
A follow up on previous ideas:
My thinking is the triangle breaks out soon and that wave B (white) of Y (yellow) at the recent low at 505X is complete and ultimately head towards high $60's.
BRENT CRUDE is likely to continue lower as the price continues to form lower lows and lower highs.
The daily timeframe is currently showing price retracing back towards the key resistance of 60.30.
If price forms bearish price action we can look for a swing trading opportunity from these lows.
this is an idea of price development in the next 2-3 days, the way I see things, for my personal self-check - follow at your own risk, once EU and US market opens - things for sure would change - so - do not repeat this at home!
Hi guys, the USDCAD pair is trading inside a rising channel and has reached the lower channel support in today's trade.
The level aligns with the 61.8% Fib level, and the RSI is printing a slight hidden bullish divergence (the RSI bottomed before the price.)
The 4-hour candle looks like buyers are gaining power again.
Follow this pair, it could reveal a buy...
Oil chart doesnt look good for bulls at all, if it closes below 51 (which seems to be the "demand" line) we might see a massive sell off to last year's lows. However, seasonally oil rallies in August 70% of the time (long August 7th to 27th)
It's in "no mans land here" basically with the conflicting signals , probably safer to just daytrade it until we get a...
The wave of the triangle "b" is still forming. In which a triangle (B) is forming. On small TFs (in the internal structure) several options are possible, but, most likely, the wave or of "D" is forming. If , then it also takes the form of a triangle (THREE TRIANGLES IN ONE POST!); if , then this are the initials.
Local targets are below the turquoise level and...