From a technical analysis perspective, it can make a bounce downwards around 63.7-64 and the technical aspects are: 1. The major reason is the trendline which is pulled from 2016 low, second touch 2017 low, it made a breakthrough at 2018 and now, this is a classical retest situation. The 2018 breakthrough has occurred with a strong and powerful candle so this...
Hi Guys, please note that the formation inside the circle was made right on supportive SMA. Following the pannant made on Monday and the run made this morning, price pulled back from 59,50 to return below 59 and find support on the ascending SMA at approx 58,73 and bounced to gap up right after release of API Weekly Crude Oil Stock which was supportive for bulls....
Hi Guys, following my previsous post on US Oil (related ideas linked below) please note that the formation inside the circle made today may be a pennant that could trigger some bullishness into mid-week if sentiment picks up. Thank you for your support and for sharing your ideas. Don't forget to put a like if you appreciate the post and to follow me if you...
Hi Guys, following Trump's tweet at the beginning of Week8, Oil ranged throughout Week9 entering Week10 with a bullish bias due mainly by comments from Saudi Energy Minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall in U.S. drilling activity. This is an arm wrestling US vs OPEC between 57 and 55....
XAUUSD, gold testing historical strong support level 1277 low of january 2019.
Trade already active sorry for the late post , but still lots of potensial to gain. I'd advise to wait for a slight retracement on a lover timeframe for entry. Goodluck
#NZDUSD, Nzd long% increased 1%, short% decreased 1%. price forming bottom 0.6440, OI also indicating bullish sign.
It's likely that we're going to have the fifth wave and a new high.
Current target = $67 Current hold 5 contracts gltu!
There's a possible triangle in wave B, so we could have another bullish impulse.
Call it a rounding top or head and shoulders breakdown, oil appears on track to revisit 2016 lows. Bulls need to be quick in taking prices back above neckline levels as quickly as possible
The weekly 50-MA stands at $51.04, while the 23.6% Fib retracement of Jan 2016 low and Jan 2017 low stands at $50.98 The dips below the confluence of key levels provide to be short lived this week. On the higher side, the rising trend line is capping gains. The RSI has topped out… so the odds of a bearish breakdown are high, however, as of now prices are in the...