🔸Hello traders, let's review the 2 hour chart for GOLD today. Ongoing distribution in progress since January 2024, currently locked in trading range. 🔸Final pump in progress, however strong overhead resistance overhead will likely contain any further gains, therefore risk/reward will shift in bears favor as we close in on resistances near 2050 usd. 🔸Recommended...
1min Entry after CPi news release late entry after 77.307 break of lower structure Large bearish engulfing candle close Take Profit: 76.874 | 1.618 Fib extension Stop loss above previous high (77.448) ♥ ♥ ♥ ♥
Hey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 76.50 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 76.50 support and resistance zone. Trade safe, Joe.
Pair : Crude Oil Description : Double Top as an Corrective Pattern in Short Time Frame Completed Impulsive Waves and Correction RSI - Divergence Rejecting from the Resistance Level Break of Structure and Completed the Retracement
Hello,Friends! USOIL pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 4H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 74.02 because the pair overbought due to its proximity to the upper BB band and a bearish correction is...
WTI oil (USOUSD) is rising towards a potential breakout level and momentum could potentially carry price towards our take-profit target. Entry: 77.234 Why we like it: There is a potential breakout level Stop Loss: 75.528 Why we like it: There is a pullback support that lies underneath the 23.6% Fibonacci retracement level Take Profit: 78.940 Why we like...
We've observed the price successfully mitigating the latest bearish impulse at the Optimal Trade Entry (OTE) level. Additionally, lower time frames are indicating a break of structure, suggesting a potential shift in the market's character. With the OTE mitigation already in place, our strategy now involves exercising patience and awaiting further developments.
In the daily timeframe, we have a strong impulse wave, after which we had a price correction. We are witnessing the failure of the reform process. In the 4-hour time frame, the price can break the specified resistance level, we expect the price to grow to the specified range as the first target.
Hi all, been away for a while now. really had to take a step back and rethink my whole take on this market and especially the oil market. Cant figure out where the market had to go and why it did not respond to all the news and macros in the market. But here is my take on where the oil prices have to go for the next couple of weeks/months. I have the following...
Hello Traders ! On The Daily Time Frame, The USOIL Price Formed an Ascending Triangle Pattern. So, Let's Expect The Bullish Scenario 📈 If The Market Breaks The Resistance Level (77.67 - 79.72) and Closes Above That, We Will See a Bullish Move... TARGET: 82.40🎯
One thing appears to be rather obvious: crude's rally has fizzled out: Oil - Bulls Will Be Totally Annihilated And that's bad news for bulls. If crude's rally has fizzled, can natural gas counter rally? Well, natty hasn't done much all year. One of the reasons is probably that the world, which is controlled by the Communist Party, wants to SaVe ThE WoRlD...
Based on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are...
Crude oil price showing strength! N.B! - USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #usoil #crudeoil #wti #brentoil
Dear Colleagues, price is in a pretty strong downward movement. I suppose that the price fall will continue and after confirming the fall I will redraw the Elliott waves. So far, I assume that the price will reach the support area of 71.21. Before this decline, it is possible that the price will update the maximum a little more and reach the resistance area of...
HELLO FRIENDS!! As I can see USOIL is now trading above the uptrend line and it will be more bullish because of Asian Demand and War in Middle East Technically also it showing us clear view that it is holding above the support level and trading in bullish trend after a small reversal we expecting more buys in USOIL Trade As you can see our pervious entry on USOIL...
I'm expecting IOC to hit 150 and 195 respectively. NFA. DYOR
Currently watching Crude Futs (NYMEX) to clear an Intermediate term High at 79.00 Big Fig. As my mentor says... "To & Through" Reasons: Crude Bullish Seasonally until march/April (Possible Quarterly Shift to downside) Commercials Net LONG DXY Bullish Failed to break lower on Daily (Indicating to me higher prices are in order) HTF MMSM, however Long in...
Please, check our technical outlook for USOIL. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 76.54. Taking into consideration the structure & trend analysis, I believe that the market will reach 74.95 level soon. P.S We determine oversold/overbought...