As it can be noticed from the higher timeframe perspective, the price has formed and inverse Head&Shoulders pattern on a zone of massive support. From here, we are expecting for the price to keep pushing to the upside and reach the area of $1918 previous support later turned resistance. Happy trading, everyone!
Crude following along pretty well, from my many updates entering the next leg down to complete the Y wave of this complex double correction. should land around $85 in June. Invalidate the next leg down by breaking out over $115 then that means W3 likely starting towards $170 sooner vs later.
Let's take a look at the chart of GOLD on different timeframes and make a detailed chart analysis of it! As it can be noticed from the WEEKLY timeframe perspective, the price has nicely rejected the zone of previous resistance later turned support that lines up with the ascending trend-line illustrated on the chart. This means that the price has successfully...
At the moment, the price is sitting on a crucial zone of support and we can identify some sort of bullish price action. Although our bias for GOLD is bearish, we believe that some correctional moves should happen before the price charges up for further bearish moves. Thus, we are monitoring the price action and looking forward to opening BUY positions and aiming...
1) Commodities are on a run 2) Soybeans is in an upward trend 3) Instrument $SOYB Teucrium Soybean ETF
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
IDK still thinking DNN pushes to $2.14 ish b4 an ABC bullish correction and tests the orange U308 futures line. But If U futures dump here then DNN could meet the confluence at lower levels. My bullish bias is supported by the fact that wave 5 seems to be still underway on the daily. Also Weekly & monthly charts still bullish tilt. & also DNN sitting on mid...
Thinking 5 up is complete now. And soon we ABC down to the mid point. Retest that price area & then re analyze. The monthly & weekly still in a strong uptrend so an ABC after 5 up to retest support would be a bullish continuation pattern. But we must wait to see upon confirmation.
The soft commodities sector of the commodity market can be highly volatile. Historically, sugar, coffee, cotton, cocoa, and frozen concentrated orange juice futures that trade on the Intercontinental Exchange have doubled, tripled, and halved in value over short periods. While clothing and other consumer goods depend on the cotton market, the other sector members...
Hello Traders This is my opinion on Crude Oil. The price is at strong resistance: - Trendline --> Dec./ Jan. Highs & Jan.- Mar. Lows - 78.6 Fib --> Mar. Rally - Resistance --> 1 & 4 April Lows - 50 Day EMA @ 99.29 - Descending Triangle on Price and TDI (RSI) The price will probably push back from strong resistance I mentioned, between...
Iron Ore should reach at least $400 by EOY 2024, but likely much sooner than that
US oil making a nice symmetrical triangle. Short once it breaks the red ray Target is marked with green ray SL at 102
I'm still invested with the rest of my original position long in corn, but I'm ready to scale out completely. But just now, I've noticed that the highs and lows from yesterday and today COULD form a beautiful symmetric triangle. So in this uptrend, this could be a chart pattern that indicates a continuation of the existing trend in corn.
After tapping into the zone of all-time high last week, the price of gold has been rapidly dropping ever since. From the DAILY timeframe chart, it can be witnessed that the previous DAILY candlestick has left a huge wick to the downside and closed in the favour of buyers. Yet, the current DAILY candle looks super bearish. It had been forecasted that the price is...
As it can be noticed from the chart, the price has been on a bullish run for quite some time. A nice uptrending curve illustrated on the graph serves as a powerful line of support. Moreover, the price is currently sitting on a zone of previous resistance now turned support. Therefore, we are waiting for a nice bottom to be formed before we can open long positions...
Taking a look at the Weekly timeframe chart, it can be noticed that the price has been heavily rejecting the local crucial zone of resistance. The previous weekly candle has left a 700-pip wick and closed below the local structure. Zooming into the H8 timeframe chart, it can be seen that the price has formed some sort of a Head&Shoulders pattern. We are patiently...
As the new year begins, the markets are a little quiet but in the oil , markets seem a little confusing, Based on OPEC-JMMC Meetings we made our view on the oil market. "That's one way of looking at it OPEC plus seems confident that despite omicron spreading rapidly around the world and with cases rising it's not going to have that much of an impact on oil demand...
Razu Munikar, Reconsidering my count here. A WXY corrective structure has ended for now and a lot of room to continue upside as i see. GOLD as per previous analysis has seen a pretty smooth upside move. But it's nearing a strong resistance area at 61.8% area. Will it break it or fake it? The breakout above it will create an all time high as per my analysis. (Do...