This 3 day charts shows basic retracement levels, percentage increase levels from the current low and angle relationship based support & resistance areas. So far, the oil market saw a sharp surge from the low $42, a longterm demand area, and currently it seems there's still some room for further upside. This move up can be regarded as a retracement leg within a...
After the big crash of the us oil price now we have a great buy long term opportunity. The price has reacted after touching the 4/1 Gann level and now i will expected an up trend for the next week-month. Similar situation on the weekly Gann analysis This point could be the historical bottom for the wti market.
Bitcoin price has found a support level on 8/1 Gann Fan. I think it will probably made a new up phase until 4050 $.
As i've said yesterday () the target i had expected for a bounce was 2450-2440. The price is arrived near to this level (2441.18). Tooday i think we can see an up price. In my opinion the target for the day is near to 2530. Based on tooday price movement we could undestand what the market will want to do in the next days.
Today opening will be relevant to understand which will the market reaction. In this moment my primary idea is: market want to continue his down phase. In this case i think we could see a small bounce near to 2450-2440. If the market had to arrive on this level we probably see a bounce. In case of this idea will be confermed, I will update the analysis as...
As you can see on the image the market now is testing the 1/2 Gann Fan. If the price had to broke this level the situation will become critical. The 2540 level is important because if the price will go down the main trend for this market change from bull to bear. In this case first target can be 2350 and i think i will go short. If the market reject this idea...
The price action certainly confirms a number of cases for a bullish outlook, but more than that: The 49 day cycle. I've written about the power of this cycle before and the importance Gann made with it. The 49-day cycle is what he called the 'Death Zone'. He said this because trends often find strong reversals from blow-off moves - which is exactly what we have...
Following the Rule of Angles from W.D Gann's work, a break below this structural angle would indicate a profit target of the 1.34 zone.