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CRUDE OIL: Bullish Pin Bar SignalCRUDE OIL – Futures: Bullish Pin Bar Signal Price Action: Price formed a Bullish Pin Bar Signal overnight. Price moved higher from the recent Bullish Pin Bar Signal that had formed late last week (We did not consider trading this signal). Price moved higher from within the range of the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level over three weeks ago (We suggested trading the pullback to this signal in the May 1st, weekly newsletter and hopefully some traders got on board). Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower to within the range of the current Bullish Pin Bar Signal. Potential Trade Idea 2: We are considering buying on a retracement lower whilst price remains above the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level.
TVC:USOILLong
by UnknownUnicorn393254
Elliott Wave Analysis: Natural Gas Confirms Temporary TopHello traders and investors, today we will talk about Natural Gas in which we can see sharp and impulsive decline from the highs, which in Elliott wave theory suggests and confirms temporary top in place. From Elliott Wave perspective we can clearly see a completed five-wave bullish cycle within 5th wave at projected 9.0 level. In Elliott waves, after every five waves, we can expect a three-wave A-B-C reversal, so with current five-wave drop from the highs, seems like Natgas is now slowing down within a higher degree (A)-(B)-(C) correction. Well, wave (A) seems to be completed now, so we may now see a three-wave A-B-C corrective rally in wave (B) that can retest 7-8 resistance area and form a nice Head&Shoulders pattern before we will see another sell-off for wave (C). Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYMEX:NG1!
by ew-forecast
3
GOLD: FALLING WEDGE, NEW LONG OPPORTUNITY?Hello Fellow Gold Bugs! From a technical perspective, Gold is forming the falling wedge pattern. The trend analysis also indicates a bullish movement. Therefore, We expect Gold will move upward to the target area. The roadmap will be invalid after reaching the support/target area. *Disclaimer: The outlook is only used for Educational Purposes, The Creator doesn't responsible for any of your trade position or other financial decisions* FOLLOW and LIKES FOR MORE CONTENTS AND UPDATES
TVC:GOLDLong
by financialfreedomgoals101
Could We See the USOIL Reaching Its Previous High Again ? 1- Market Overview: On the daily time frame, we can see that the USOIL is in a clear upward movement where a series of higher highs and lows has been posted. On the 3rd of March, the commodity rallied hugely and reached a high of 129.39 USD per barrel, the highest price since May 2011. Now, the price formed a triangle where it managed to break it to the upside after finding buyers around the 93.70 USD support level. 2- Long Scenario: In this part of our analysis, we will provide you with what likely will occur in the coming days for the USOIL. Since the main direction of the trend is to the upside as shown in the overview part of the analysis, it is more likely to see the USOIL continues its move to the upside. Remember that the trend is your friend, so if everyone is buying, it is much wiser to consider a long position instead of a short one. In addition, the market succeeded to break the triangle to the upside which shows that the buyers are in control of the market and could push it furthermore to the upside toward the previous high (129 US Dollar). 3-Short Scenario : The least likely scenario for this analysis is to see the USOIL reversing and move lower. The commodity might first face a resistance from buyers around the 93 USD mark level before tumbling toward the 85 USD price. If the buyers could not sustain the huge number of sellers around this zone the market could tumble again to the support zone which is the 66 US Dollar by posting lower lows and lower highs. So, first we should look for a breakout of the previous low around the 93 USD mark and then posting a new low below the 85 USD mark before reaching the 66 US Dollar.
TVC:USOIL
by PriceActionDesk
2