Oil (USOIL) is trading within a Channel Up pattern since the December 13 2023 market bottom and currently is on the 3rd Bullish Leg towards the top (Higher Highs trend-line). This indicates that on a R/R basis, there is greater incentive selling with the price being closer to the pattern's top than the bottom (Higher Lows trend-line). As a result we are bearish,...
The main technical graph is for Cotton # 2 Futures that firmly up this year, with solid 13.5 percent performance in 2024 to this time. The weekly Commitment of Traders report showed managed money cotton traders dropped 6k existing shorts and added 11.6k new longs during the week that ended 2/6. That raised their net long to 46,344 contracts. Commercial cotton...
Gold (XAUUSD) maintains its Channel Down status since last December and so far has established the 1W MA50 (blue trend-line) as the current Support having been nearly tested 2 weeks ago. The current analysis is on the 1W time-frame, which offers a highly reliable long-term outlook. As you can see Gold has been on a highly symmetrical 4-year Channel Up pattern...
Wheat (ZW1!) has been trading within a long-term Channel Down pattenr since July 2022. The price is currently on a bearish sequence below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line). It appears that technically this is a Bearish Leg following the December 06 2023 Lower High rejection, similar to the one that started on the October 10 2022...
Gold has been trading within a Channel Down pattern since the December 28 2023 High. The price is at the moment around the 4H MA200 (orange trend-line) and close to completing a +2.84% rise, which is the usual Bullish Leg % within this pattern and currently falls just below the 2045 Resistance. The 4H RSI is already on the same Bearish Divergence that priced the...
Copper (HG1!) is trading on its 1D MA50 (blue trend-line), on a Bullish Leg following the February 09 2024 rebound. That was a Lower Low within the Channel Down that started in December. The long-term pattern is a Falling Wedge and being much closer to its top, after the January 31 2024 than its bottom, this is a strong sell opportunity. The August 2023 Lower...
Silver (XAGUSD) is on the 2nd straight green 1D candle, the strongest two day rally since December 14 2023. The natural technical Resistance is the 1D MA50 (blue trend-line) and if broken and the 1D candle closes above it, we will buy the break-out and target the 0.786 Fibonacci level at 25.000. This is because based on the 1D RSI, the current Double Bottom...
WTI Oil (USOIL) is being rejected once more on the 1D MA100 (red trend-line). Even though we are constructing this analysis on the 1W time-frame, in order to utilize the long-term dynamics and stress the importance of the 1W MA200 (orange trend-line) as the long-term Support for exactly 3 years (since the weekly break-out of February 01 2021), the key that makes...
Those who follow us for long know that when trading Natural Gas (NG1!) we use a very distinct long-term pattern that has been in effect for more than ten years and last time (January 22 2023, see chart below) has helped us take a new short at 3.174, running so far +100% in profit: As you see on this 1W chart, the price is now below the High Volatility Zone,...
Hello Traders! On Monday 05 Feb, The XAGUSD Reached a Support Level (22.25400 - 21.88300). The Price Formed a Descending Channel. Currently, The Resistance Line is Broken! So, I Expect a Bullish Move📈. TARGET: 23.16000🎯
Gold (XAUUSD) has dropped again below the 1D MA50 (blue trend-line) and contrary to our last short-term signal (February 07, see chart below), we look today on a longer term monthly basis on the 1D time-frame: As long as the price stays below the 1D MA50, it is very likely to see the current rejection transition into a Bearish Leg for the whole month of...
Gold (XAUUSD) is technically neutral on the 4H time-frame, ranged within the 4H MA50 (blue trend-line) and 4H MA200 (orange trend-line). The 4H RSI is on a pattern which usually denotes a short-term peak, similar to January 19 and 12. We will apply a break-out trading plan. As long as the price remains within a Channel Down similar to that of Jan 19 - 25, we will...
WTI Oil (USOIL) gave us one of the best bullish break-out signals two weeks ago (see chart below): Since almost touching the 79.75 Resistance, the price pulled back significantly and hit (even marginally breached but never closed) the bottom of the 2-month Channel Up. With the 4H RSI making a Bullish Cross, which was the absolute Buy Signal on the previous...
Following the two day price surge after the Fed kept the Interest Rates unchanged and communicated their intensions of being in no rush to cut rates, we believe it would be beneficial to look Gold (XAUUSD) from a long-term perspective again and in doing so, we are updating our December 27 2023 (see chart below) comparison between the 3 Cycle Tops since August...
Gold (XAUUSD) is about to test the 4H MA200 (orange trend-line) for the 4th time in 10 days having already 3 failed bullish break-out attempts (all 4H candles broke but failed to close above it). At the same time, all this price action is being done at the top (Lower Highs trend-line) of the 1-month Channel Down pattern, which strengthens the sell...
WTI Oil (USOIL) Closed last week above the 1D MA50 (red trend-line) for the first time since July, which technically puts an end to the October - December 2023 downtrend but perhaps that's not the strongest bullish signal we've seen now. The asset completed on Friday a Golden Cross on the 4H time-frame, the first such formation since July 10th 2023. That was at...
Gold (XAUUSD) is on the 2nd straight bullish 1D candle after Wednesday's 2001.50 bottom. With this rebound it has recovered the 1D MA50 (blue trend-line), which it broke and closed below it on Wednesday. However this is the only (so far) divergence from the early 2023 pattern, which started with a massive reversal on the 1811.50 - 1805.00 Support Zone, the rally...
WTI Oil (USOIL) is under a heavy technical squeeze as it has been trading for days within the 1D MA50 (blue trend-line as Resistance) and the 1W MA200 (red trend-line as Support) and the width has now gotten extremely tight that a break-out is inevitable. The very same squeeze was last spotted on July 03 2023, when the price marginally broke above the 1D MA50 but...