Resistance at the key level 6.4. If it breaks, it will quickly rise to 8.4 and 9.7. Volumes are down but not too low yet to mark a period high. Will the growing demand from China cause the price to rise again?
This week BUD releases quarterly earnings. Support and time frame are important. Will it start up? Attention, the graph is in euros with the Brussels quotation. Waiting Q3.
And now? Waiting for a signal, a rebound is possible in the coming weeks, or the exit from the medium-term bullish channel will lead to new lows.
We are at target. Now need rebound confirmations. 1,177 and 1,162 are important areas. the direction to the break
If it confirms the bullish channel, long with new top targets 14000 14100.
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Oil prices found support on the basis of the long-term bullish fork. You can see how the price has always moved within the fork in recent years, recognizing supports and resistances several times. The Fed will most likely cut rates short and multiple times in the course of 2020. The first to benefit from this will be the weakening dollar. The oil price will rise...
The descent on the blue trend line of the long-term bullish fork is over. The beginning of the descent started on the resistance of the median of the long-term fork. The decline was 50% of last year's bullish movement. All the gaps of the last hike have been closed (Look at my analysis of February 16th where I called the 12% drop and the closing of the gaps)....
Friday ended with a hanging man on the highs. Attention to the next few days. A 12% drop could begin until the last gap opened near the 2,618 Fibonacci area. Attention to the area 3210-3205 which will be an important support. The US economy remains strong, this could only be a technical descent to increase long positions. The 12% drop is very deep, I don't know...
An Inverted Hammer has formed on the daily chart at the 2.618 Fibonacci level closing on Friday 14 February. There are good chances for a rebound, at least up to the Fibonacci level 0.5 of the descent just made (redesign the levels).
Low volumes, overbought, new records. If we are really at the top, I want to report the gaps left in the past 6 months. In the event of a fall, the strategy plans to increase positions with each closing of the gap. The first one is very close, I would wait to see the strength of the descent.
Low volume. Fibonacci support not broken. If today the trading day closes with volumes below the average of the last day, we have probably hit bottom on the Fibonacci level as support. a rebound of a few days is likely. Fibonacci levels and static resistances will give us price targets. 1.096 and 1.099 are very interesting levels. We expect a rebound until the end...
Dollar shows strength these days. We are in the lower part of the bollinger bands. The bullish fork has been perfectly respected in recent weeks and the median has been a strong resistance in recent days. it is possible to see a fall to the base of the fork in the coming days, with attention to the static levels 1,099 the lower band of the fork and the lower band...
I have a long position of 1,1208 (black dotted line). Next week I look for a 1.1412 area (green resistance line and Fibonacci area) to close the long.
Probably new lows in the next week. The descending black trend line intersects Fibonacci level 1 at 1,1109. A lower minimum is not exclude @ 1,1067.