According to this spread chart, current price relation OIL/SPX and price movement are nothing new, they resemble late 90`s - like many other things (e.g. dollar strength, biotech bubble = dotcom bubble, or check blogs.barrons.com) The peaks corelate with turning points in Gulf War and Iraq War. The bottom of the spread could be distant another 10% at minimum,...
0.764 retrace since the last highs of 69.5. This looks like a pretty good risk reward place to go long until 71.14. Daily is relatively oversold & unsustainable along with clearer and clearer signs of seller exhaustion.
Friends, While the predictive/forecasting model is posting an early bearish market reversal signal, there are also fundamental and technical reasons to consider a potential bearish downturn in this $GBPCAD pair FUNDAMENTALS: Central bank decision regarding UK is expected to maintain interest rates unchanged. This implies that $GBP won't gain rally without...
Hello Everyone, After a long period of Consolidation in a Symmetrical Triangle, The Crude finally broke out to the downside and did a major drop. So big that it worried a lot of countries feeding on the black gold. Nowadays it feels like people are no longer fan on commodities. They'd prefer more of the greenbacks than golden back-and-fronts. As you see...
Hello guys, After the recent break of crude oil out of a really lengthy consolidation phase (Triangle), as anticipated we're seeing lower lows ever since. This trending environment makes every Elliott Wave trader happier than any other time. In the previous 14 days we've been sitting in the retracement of the recent down-move. We're heading towards a sweet...
SIMPLE CHANNEL SUPPORT BUY TRADE. If this week it gives a close over 87, shall be very bullish and attract massive up move towards the neckline levels of $91 and then few corrective pullbacks to 89, and the next move shall head to $100 in the medium term. Protective stop loss can be placed either just below the weekly low or at $77 levels. Lower risk and Higher...
CHANNEL SUPPORT, Lower Risk To Reward Trade. Regards, SP CapitalTA
task to break the wave A red .Now completed six months, a year, the five-wave growth interruption wave A blue
Brent oil has reached the channel bottom and long term strong support level. A little bounce is expected.
Friends, Lots of talk at the moment regarding the uncoupling of geo-political events that would have pushed price of oil further up, in contrast to the current sustained decline in price seen in both US domestic and Brent crude oils. Over-production, increased reserves, or political manipulation ... There is a taste for everyone seeking an explanation. OIL...
breakout + macd and RSI suggest a short
Below 103.94 careful. Any closing below 103.94 invalidates the pattern for long.