There's been a massive short covering rally of near historic proportions in oil recently. As the OPEC circus continues to 'cry wolf' regarding freezing production, the market, once overwhelmingly short on the commodity, takes the opportunity to cash out some of its short positions.
There is really no fundamental reason for oil to rally so hard as the attached...
May-June can prove to be quite interesting (green Elliot waves) when projected based on historical EWT along with macro fib lines.
Whether this will play out is yet to be seen.
Note that there are many ways to draw the Elliot waves - this is just one theory/perspective.
My opinion in BTC price is that we can expect rise of the price to 5800 USD. Because of RSI level which shows that BTC is overbought right now I think the level of 4300 USD will be retested. There is also indicator Bulliger Bands that shows price is now very volatile so anything can happen. My personal opinion is that it is best to wait for few days to see how...
Hello Ladies and Gentlemen
I want to present you my newest idea for the upcomming movement at GER30 Index.
The first wave started with an Island GAP which got closed fastly. This Island GAP sent me the first bullish signal. After a long first wave (625 points) the market recovered to the 50% Fibo almost perfectly. This area is the same level where we had the...
The NASDAQ is in a huge 'Ascending Wedge' similar to the one back in OCT 2018
You can see the RSI is capped in a negative trend, similar to Oct 2018
FIB retracement is suggesting 7300 for a target area
Also a TRIPLE TOP on the daily candles.
Stop loss above the resistance level of 7700.
BTC has had an unexpected and sharp rise last few days the price went up to $5 275. Usually such pumps end within few hours or a day consequently, we had a first sell off wave yesterday and the price went back to $4 750 level. Nevertheless we see a confident trade volume growth, currently BTC is still in bullish mood. Price moves above EMA 50, 100 and 200. There...
Usually, when the price is in bullish momentum, the only thing that can stop this momentum is a strong supply level with a massive amount of unfilled orders, on a daily chart on USDJPY, we can see that the next fresh supply is only at 113.00 zones, therefore, I believe that in the long terms the price tends to reach there and for that reason I’ll look for a...
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Hi there, EURGBP is entering ideal sell zone. Strong resistance and reversal price action is most probably!
GOOD LUCK and take entry according to your balance.
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EUR/CAD TECHNICAL ANALYSIS:
*-Price has broken the trendline & the support,
*-Nice head and shoulder reversal pattern formmed,
*-Retracement on daily reacted to fib retracement zones
*-Weekly and monthly looking extremely bearish with upside spikes indicating a slow down on pricemomentum
*-Waiting to retest the resistance zone to get the best entry,
what can you expect on Gold ?
price is drop heavily from last week and minimum target is 1262
golden ratio support found around @1240 - 1238
sorry for late update, best re short position @1280 - 1276 with first swing target @1239
and second swing target @1210
pay attention to reversal pattern @1239, price might rally again because mid december '17 we can see...