Gold turned overbought on its 1D technical outlook (RSI = 71.445, MACD = 34.140, ADX = 33.307). Despite that, our TP = 2,650 will most likely get hit by next week, so now we will discuss what could happen next. Obviously a rejection at the Top of the Channel Up is most likely to take place, with which the market will seek technical confirmation of a support and...
Amid supply concerns in the markets, oil prices, which had dropped to the $69.30 level, saw a notable rebound. The American Petroleum Institute reported a 1.9 million barrel increase in weekly crude oil inventories, while a slight decrease is expected in the official crude oil inventories to be announced in the U.S. today. In the U.S., strong expectations remain...
GOLD has recently broken the RANGE it has been in for the last couple of weeks.
As you can see via the labels on the chart, GOLD initially produced multiple REJECTIONS from the RESISTANCE.
Eventually, the RESISTANCE was BROKEN, changing from high volume resistance bounces to low volume RANGING.
WE were in this RANGE for a couple of weeks, where I believe...
The U.S. Energy Information Administration (EIA) announced that global oil demand will reach a higher level this year, while noting that the increase in production will be lower than previously forecasted. Additionally, the EIA reduced its price forecast for Brent crude oil in 2024 by 2.4%, from $84.44 per barrel to $82.80 per barrel. As a result, Brent crude oil...
The weakening labor market has reduced risk appetite in the markets, triggering a drop in crude oil prices toward the 67.50 level. Additionally, OPEC+'s crude oil production in August decreased by 300,000 barrels due to declines in Libya and Kazakhstan. However, ongoing supply concerns continue to pressure the commodity.
Technically, if the 67.50 support level...
MCX:COPPER1! trade at 780 level. Its now doing a major correction but in long run moving upward side, so you can wait for reversal or play some downside move till 750.
I called the oil top in June 2022 and I have been building / holding a massive leveraged short position ever since then.
This market will take YEARS to recover, after the current selloff is complete. I will continue to cover the devastation, along the way.
Don't listen to the media - they are lost.
Question your "advisors" - they are going to encourage you to...
So as we are approaching this week's NFP report which will give a clear indication of either a soft landing or a hard landing I expect Gold to have a slight retracement as it is currently facing some resistance and has broken out of the ascending triangle so our target will be at the h4 tradeline
Follow more for quickly analysis
Gold is trading at levels above 2500 after touching its highest level, last week a big rise was seen in gold, today gold is trading in a determined trend, on 30 minute chart frame gold An uptrend is visible, if gold breaks this trend line towards the left today, then targets up to 2487, 2480 can be seen.
As can be seen, price managed to break above an ending diagonal and established a bullish structure in 1H and 4H timeframe.
Therefor, I would be looking to buy a bearish corrections unless the way of evidence show or prove to me otherwise.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
XAG/USD is rising towards the resistance zone which price has been respecting multiple times in the past and could drop from this level to the downside.
A "Triangle Pattern" has formed in Crude Oil and Downtrend has "Breakout". So market is Bullish Trend. And the Target is Triangle's Top Trendline at INR 7100. Additionally, Expect a Breakout of the Triangle Pattern.
Don't miss the "Wolf Wave Target" Opportunity. If Breakout the Triangle Pattern, then the Next 2nd Target is Wolf Wave. Refer to the below image for...
Falling Wedge Pattern Formed and the Target is Wedge Top, price around $250. And Expect Breakout the Wedge Pattern.
I want to help people to Make Profit all over the "World".
We are currently inside a 12$ Range on Crude Oil on the monthly timeframe. Support being 71.32 and resistance being 83.22. After two weeks of trading in June, Oil is up roughly 2/3 of 1 Percent. The First week being quite bearish but which was corrected, plus an additional some to the upside on the second week. Price came awfully close to the weekly resistance...
Hi guys,
In this chart i Found a Supply Zone in USOIL CHART for short entry,
Observed these Levels based on price action and Demand & Supply.
*Don't Take any trades based on this Picture.
... because this chart is for educational purpose only not for Buy or Sell Recommendation..
Thank you
