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USOIL to fall down to the price of 71 USD, keeping the very clean and using simple support and resistance, from my analysis you can see that there has been a fake breakout on the upside and confirmation from two trend lines, that price will come down and retest the support, take what you will from this, good luck traders!
Based on potential issues with Iran involving the Hormuz Strait I just published and quickly cancelled a chart looking for a run up to 76.5-77.5 and then a pullback to 74. But then thought - if this issue continues to unfold then prices may just continue to grind up over the next month without much in the way of prices pulling back. I am highly advising taking ...
Potential 470 ticks: I am looking for a potential Long and Short play in Oil short term. I was recently bearish minded at 74.12 but following the price action this past week I believe we may have another run up coming potentially due to geopolitics involving the Hormuz straight. Trade on the chart is self explanatory based on 2014 Supply/Demand levels.
this is my analysis for brent
CL OIL WTI USOIL 30 Min Harmonic
Plenty of noise in the street today ... giving large hands another opportunity to shake out shorts and offering those sharp enough cheap entries ahead of Trump confirming the US to leave the Iran deal (just over an hour from now).
=> We have posted in detail about the flows into BTC and Gold with Iran (see attached) as risk enters into the picture one more time ...
whole chart looks like inverse H&S - but each pump has been a lower high. Will be interesting to see if we break that threshold
Prices for Brent rose sharply against the background of political tension. There was an aggravation of relations between Iran and the head of the White House, Donald Trump, who threatens to terminate the nuclear deal. They put considerable pressure on the market and quotes, as it can reduce the volume of daily world oil production by 600 thousand barrels per ...
May be come back to 53$ soon.
This is potentially a very good trade, for the time being, we can expect it to retest the top of the range. If you didn't buy with me and my clients yesterday at the close, you can buy here, risking a new low under the recent lowest low. Target is at least a retest of the previous rally's top, but it could evolve into resuming the longer term 'Time at mode' ...
Opec to cut or not to cut?
* I trade Oil seldomly however this binary position caught my attention.*
1.This trade derives from my view regarding cartels - a view which follows the logic that they only work when the cartel makes an arrangement that is beneficial to all parties, wholly from a profit perspective.
2. Formal action of Reducing output is unlikely to ...
Multiple weakness seen here, with every rally being sold off.
The support at 46.5 should break any time right now, great opportunity to short here with 1% stop loss.
Tomorrow, members of OPEC will meet in Vienna, and it is unlikely there will be any policy shifts. Despite the dire straits some OPEC members are in, such as Venezuela, the current crude production policy will likely remain until Iran and Russia agree to some sort of production resolution.
MacroView has been overly bearish since June 2014 but indicating that the ...
Brent crude has been able to rally on little volume during the U.S. banking holiday and rumors surrounding a potential unified OPEC production cut, issued by the UAE energy minister just as WTI was carving out a 12 year low (and in the middle of the night, local time, no less.)
Four days later, there has been no new reports of said production cut proposal, but ...
On technical basis, SPY (The S&P500 ETF) has broken down below 1st standard deviation from quarterly mean (66 days), while also breaking below 1 year mean (264 days).
The price has now entered a downtrend on quarterly basis, and will continue to fall if price stays below 1st standard deviation from quarterly mean (207.1) Closest target is the lower 1st st ...
An overlay of the chart of WTI and brent oil prices over time, I thought it'll be pretty interesting to share this.
How geopolitical and the American shale oil boom is shaping up the differences.