Crude oil real-time market analysis: The resistance of crude oil in the morning on Wednesday was 85.6. As time went to the European market, it has now moved down to the 85.3 position. The 4-hour SAR extension point coincides with the MA30 moving average and is now at the 85.5 line. Tonight, it can be judged at the 85.5 position. Oil price strength and weakness....
Dear friends, gold turned upward after hitting the 2355-2350 area overnight. It is currently trading near the 2383 position. Gold seems to have the possibility of hitting 2400 again. In fact, for the current gold market, wide fluctuations have become the norm, but in the short term, I think gold does not yet have the conditions to directly impact 2400, because...
Crudeoil supporting by trendlines If break more fall possible
Hello traders.. WTI Crude Oil has been dropping since the beginning of the conflict this past weekend between Iran and Israel. We are trending bullish so far on the year and are up 14%. Price is pulling back this week and we recently touched into a Daily support level 81.25 where we observed a bounce. I dont believe sellers are completely out on this bearish...
USOIL / 1D Hello traders, welcome back to another market breakdown. Crude Oil traded lower earlier in the week after a small pullback bear trend. The bears got 3 pushes down, forming a wedge pattern. They want a retest of the June or May lows, followed by a breakout below. The bulls see the current move down simply as a bear leg within a trading range. They...
Gold hit a new record of $2,430 last week during the New York session. It has seen gains in seven of the past eight weeks, increasing by over 17% since mid-February. This is despite the strength of the US dollar and a hawkish repricing of US interest rate expectations. The usual negative relationship between gold and US real yields has broken down, leaving traders...
Ralph Benjamin, hello everyone! Thus, the price of gold plummeted, dropping 20 USD after just 30 seconds after the US inflation announcement, exceeding market expectations yesterday. Currently, in today's trading session, the uptrend continues, gold is currently consolidating below the $2250 barrier. The uptrend is strong as it consolidates at high levels with...
last friday gold suffered a big crash off around 1000pips in couple hours, leavins buyers perplex. The bullish trend support stopped the fall off gold for now. Expecting gold to retrace bullish, but all depend on certain support levels and the trend support. A clear break off 2325 would be bad for buyers and a posible reverse trend may start. If 2305 breaks then...
Gold (June) / Silver (May) Gold, yesterday’s close: Settled at 2388.4, down 19.4 Silver, yesterday’s close: Settled at 28.40, down 0.024 Gold has traded fairly constructive on the week given Friday’s sharp reversal but the overhead supply resulting from this reversal is apparent at major three-star resistance at 2404.3-2408.5 and 2412.9-2414.8. A close...
Crude Oil (June) Yesterday’s close: Settled at 82.15, down 2.68 June WTI Crude Oil futures are now front month and our levels are updated below. A sharp move, in this case the two-day drop, is not uncommon during times of roll and post option expiration as Crude Oil tends to cleanse positioning. With geopolitics front and center as the weekend approaches,...
The gold four-hour line appeared in the form of a triple top. The K-line reached near 2400 three times, but all were blocked and could not get through. Overnight gold once again verified that the 2400 resistance was effective. The k-line starts to exert force from above the moving average and directly breaks through the moving average. At present, the k-line is...
The 15-minute chart for XAUUSD is showing a clear pattern of resistance. After two unsuccessful attempts to break through the key zone, the third attempt appears to be faltering as well. This could indicate that we're on the brink of a sharp decline as selling pressure intensifies.
What I'm taking from current price action is Gold has bottomed at $2,325 forming Wave 1. Now we're seeing a 3 sub-wave move to the upside forming Wave 2, before we see the next leg down.
Hello traders.. gold has been making all time highs. The last all time high was created with consumer sentiment news that miss forecast for the USD last friday. Since then we've been going sideways and are currently in a 4hr range between 2,393 and 2,360. The weekly candle is bullish & the last 2 daily candles have closed bearish. The 1hr candle is currently...
Gold sell position running 440 PIPS so far for our Gold Fund investors. What I'm taking from current price action is Gold has bottomed at $2,325 forming Wave 1. Now we're seeing a 3 sub-wave move to the upside forming Wave 2, before we see the next leg down.
By checking the gold chart in the 1-hour time frame, we can see that according to the analysis we had yesterday, the price started to fall from the range of $2395 and was able to correct it by more than 400 pips to $2355! As you know, the price penetrated to these levels in order to collect liquidity, and for this reason, after collecting liquidity, we saw an...
Soybeans Technicals (May) May soybean futures attempted to hold ground yesterday, but it lacked conviction. Prices are giving back those gains in today’s trade. 1155-1160 is the first resistance pocket the Bulls need to overcome to help spark a bigger relief rally. A failure to do so keeps the potential for new lows alive and well. Bias:...
Wheat Technicals (May) May wheat futures broke lower yesterday, after struggling to maintian price action above trendline support in the previous two sessions. This has the Bear camp back in the driver’s seat as we officially enter the back half of the week. A close back above 550-555 would neutralize the recent bearish action. Bias:...