Potentially pennant pattern formation for gold market. A break out of the pennant may possibly lead the gold price toward 1,300 or 1,190. MACD showed a bearish crossover which may increase the possibility that gold may break lower to 1,190.
Suggested Long or Short after any breakout of the pennant pattern formation,
Long Position : tp at 1,300, cl 5 points from...
Patiently waiting for a break out signal for crude oil. A break out may possibly lead the market to 33.50,37.50 and 42.50.
Additionally, MACD potentially showed a bullish divergence signal for crude oil.
Suggested Long after any breakout of downtrend line, TP 33.50,37.50 and 42.50 with cut loss at $ 23.50.
Would appreciate if you could provide some feedback...
Potential Cup and Handle Shape in Gold with a breakout of resistance level at 1,100.
MACD showed a bullish sign as the signal stand above zero line and a rejected sell crossover signal.
Suggested Long after breakout of 1,100, TP 1,135 with cut loss at 1,090.
Would appreciate if you could comment for following analysis.
Crude oil may currently facing resistance level around 35.50 (0.382 retracement level & 1.0 extension level) while MACD showed negative sign as the signal line move below the zero line.
Suggested Trading Strategy:
Conservative : Short at 35.50 with tp at 25.50 and cut loss at 38.50
Aggressive : Short at 31.00 with tp 25.50 and cut loss 33.50
A potential cypher pattern could be form for Gold.
RSI dropped below 50 and MACD potentially showed a bearish cross signal for gold price.
1100 could be a crucial price level to be monitor closely to provide us confirmation of the cypher pattern.
Thus, it's time to short for XAU/USD?
I would appreciate it if you give me some feedback on this technical view....
Immediate support levels could be monitor closely for Gold Price 1114 and 1110.
A broken of support level, 1110 may lead the gold market to 1080.
MACD showed potential bearish signal and RSI drop below 50, a broken of fibo retracement (0.618) under 1,114 may adding further catalyst for downward movement, Fed interest hike meeting on the way, sound bearish for...
My crude oil critical price level for September :
R1 :46.85 R2: 48.60 R3: 53.00
S1: 44.00 S2: 42.00 R3: 38.00
A broken of R1 may lead the market to test R2 (50% retracement), if 53.00 (0.618 retracement)broken, crude oil market will test 62.00 again.
A broken of 42.00 with a huge possibility will lead the market to test 38.00 again (Fed...
48.60, my short term critical level to be observed closely. I believe that crude oil price may rallies to 48.60 as the market formed a bullish butterfly pattern in short term. Once the level is broken, it may lead the price to 53.00. On the other hand, i would see the crude oil price retrace to 42.00 if the market unable to break the stated critical...
As mention earlier, 23750 is the major level to be observed closely. The market potentially head toward to 24100 as the major level has been broken. Furthermore, the market may rise toward to 24750 once 24100 has been broken.
The reason why I prefer long for HSI because both MACD& RSI showed a bullish signal.
Happy Trading Traders, Cheers :)
54.10 is the level to be observed closely. Once the level is broken,it may lead the crude oil price move toward to 48.00.Furthermore, 48.00 would be my major support level to be observed and I would see the crude oil price heading toward to 41.00 once the stated support level is broken.
Reason for short?
1. MACD showed a bearish and down trend signal.
Gold market remain drifting sideways and unpredictable at the moment. I believe gold's price could fluctuating in sideways range between 1201 to 1981 before Sunday.
1207 and 1176 is the levels to be observed closely. Once the stated levels broken, it may lead the gold market toward to 1243 or 1139.
***Swiss referendum “Save Our Swiss Gold” on Sunday is one of...
Euro Dollar might head toward to 1.27747 as it unable to break 1.23555. If it able to break middle Bollinger Band which is 1.25600, it might lead the price to 1.27747.
Long at 1.25610 with a profit target at 1.27710 and place a stop loss at 1.23910.
Cheers an happy trading.