Samo_Danilo

Samo_Danilo Updated 

USD/JPY has been consolidating in a narrow range of 145-147 for the past three weeks. The pair is demonstrating an accumulation and should breakout soon. The reversal zone is a big potential, at least for 100 pips. The hurdle for raising rates this month is higher, implying the possibility for US Dollar falls. Next stronger reversal zone possibility is at around...

Samo_Danilo

Crude oil has reached the August highs again, pushed by productions cuts by OPEC countries and weaker dollar. Markets are now awaiting further cues on the US economy and potential interest rate moves. I think it is time for a small retracement in the price, this rally has to end for a day or two, potentially reaching 61.8 Fibonacci retracement traced back from...

Samo_Danilo Updated 

XAG - silver - hitting some key support points on the daily graph, with valid signs for a reversal on Stochastic too, RSI still not there yet but at least small reversal up until 200-day MAs is in order.

Samo_Danilo

Crude oil has also previosly reversed from 200-day moving averages on the daily graph, making a reversal. This moving average has acted as a strong resistance. I expect it to do the same now, at least until $74. Then we can target $72 with more risk.

Samo_Danilo Updated 

Perfect entry point from technical point of view, I suggested this trade before too. You should target $71 and $74 as TPS. The market will tighten in the second half of 2023 partly due to ongoing OPEC+ supply cuts and Saudi Arabia's voluntary reduction for July. The combination of robust demand reduced exports, and a larger-than-expected drawdown in inventories...

Samo_Danilo Updated 

Crude oil is cheap again. It bounced from this support previously, looking at the daily chart. Traders await the FED policy meeting and new interest rate announcement. They should pause the hikes for the foreseeable future. Targeting $71+ and $74+.

Samo_Danilo

Hello, all! Potential reversal in USDCAD coming, with it bouncing off of 50% Fibonacci level traced back from 2020. highs. Also, Canadian employment data are in favor of this potential move. Targeting the 200-day Moving averages.

Samo_Danilo Updated 

AUD/USD hit a six-month low at 0.6525, the broken neckline of the inverse head and shoulders pattern. Technical indicators suggest further downward movement, with the RSI and Stochastic oscillator indicating oversold conditions. The MACD is negative, signaling a bearish trend. The price has dropped below its moving averages and violated the short-term range...

Samo_Danilo

Gold could possibly bounce of this level around $2005 which has proven to be a successfull support/resistance in the past. It is also a 23.6% Fibonacci level traced back from 28.02. lows. I also noticedearlier a strong technical disposition in gold, whose price has approached historical highs much more smoothly than in 2020. or 2022., leaving more strength for a...

Samo_Danilo

Silver could potentially have this reaction of this strong level of support/resistance. Broader outlook remains bullish as long as the breakout zone of $24.65 - $24.45 is not violated.

Samo_Danilo Updated 

Stochastic showing overbought conditions for quite some time on the daily chart. We have seen this retracement down many times before, it acts as a strong resistance. The 4-hour chart helps navigate the shorter-term direction with an immediate hurdle at around $22.56, which can be used for early exits. The longer term target could be at around $22.10, which is...

Samo_Danilo

Relentlessly rising U.S. commercial inventories for Crude oil and potentially entrenched inflation limit any immediate upside potential. SL: 79.7 TP: 76.30

Samo_Danilo Updated 

Silver is about to break out of the channel. Jordan Roy-Byrne, Founder and Editor of The Daily Gold, outlines that the key determinant factor for a real bull market in the gold, silver and the precious metals mining stocks will be when gold decidedly breaks above the S&P 500 on the ratio chart. There are plenty of historical periods one can point to as evidence...