WTI oil continues its choppy sideways price action. However, we still remain bullish and our targets remain unchanged. Our short term price target is 67.50 USD per barrel while our medium term price target is 70 USD per barrel. We expect demand to pick up over the summer as travel curbs will ease and people will start to travel more. In addition to that oil failed...
Our previous price target of 1875 USD was reached. Because of that we would like to update our thoughts on next price action for gold. Gold climbed up approximately 12% in last 72 days. We think gold reached its temporary top as we think its currently overvalued and ready for correction. Temporary bearish case is supported by price being too far away from its...
BMW has retraced back to its medium term moving average on weekly timeframe. On daily timeframe MACD remains bearish but RSI shows signs of reversing to the upside. We would like to upgrade our medium term price target for BMW to 90 euros per share. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities....
As all our previous price targets for gold were reached we would like to upgrade our short term price target for XAUUSD to 1875 USD per ounce. Bullish RSI and MACD support bullish case for gold. Also rising inflation plays in favor of gold. Furthermore, we think that the downtrend in cryptocurrency market will further support rotation into gold. Disclaimer: This...
VIX has spiked over last week as markets dropped. There is still moderate possibility of VIX going above 30 points before finally reversing to the downside. However, we think that VIX is currently overbought as it traveled too far away from its 20-day SMA. Furthermore, RSI supports this thesis as it shows overbought condition and possible peak in VIX....
As follow-up to previous idea on WTI oil published on 28th April 2021 we would like to upgrade our short term price target from 65 USD to 67.50 USD per barrel. Medium term price target is 70 USD per barrel. Bullish outlook is supported by climbing RSI and bullish crossover in DMI with subsequent revival of ADX action. MACD and Stochastic oscillator suggest burst...
XOM currently shows very high correlation with oil price. This coincides with our bullish outlook for oil prices. Furthermore, technical analysis of RSI and MACD remains bullish. We also see buildup in volume. Because of that we would like to upgrade our short term price target for Exxon Mobil to 65 USD per share. We believe that XOM will break above resistance at...
Financial transaction involving exchange of goods is a result of mutual agreement between buyer and seller. In markets, the amount of goods exchanged between these two parties is called a volume . On graph, the volume is often represented by green and red bars below the chart of particular security. This depiction is helpful as it makes easier to spot underlying...
Bullish thesis is supported by crossover in Stochastics as it oscillates around low values. Furthermore, the RSI appears as it have already bottomed out and started its reversal to the upside. Fundamental factors in precious metals market are also in favor of gold minig stocks as price of gold is currently little below 1800 USD per ounce and continues to rise. Our...
As we yesterday correctly predicted breakout above 1800 USD and hitting target of 1805 USD, we would like to update our forecast. RSI and Stochastics remain bullish while MACD is neutral. Previous resistance at 1799.16 USD became new support for gold. We believe that gold has a chance to maintain its momentum and possibly hit our previously mentioned medium term...
Yesterday gold has found resistance at 1799.16 USD before retreating lower to 1770 USD per ounce. RSI and Stochastics remain bullish while MACD appears to exhibit some signs of exhaustion. However, we believe that price will break above 1800 USD soon. Our short term price target is 1805 USD per ounce. Our medium term price target is 1825 USD per ounce....
West Texas Intermediate oil is consolidating in neutral trend since 8th March 2021. Since then, price action took WTI back to its 20-day moving average and 50-day moving average which suggests that consolidation might be near its end and upward movement can be anticipated. This is further supported by reversal in RSI. Our price target for short term is 65 USD per...
General Motors continues its sideways price action. Its neutral trend is highly supported by low ADX value. However, the current level of importance sits between 56.97 USD and 57.05 USD per share. Move above this price level suggest bullish short term outlook and potential for price to move back above 60 USD per share. Disclaimer: This analysis is not intended to...
The Trend The trend is directional movement of prices and it plays an important role in vast majority of technical trading systems. Technical analysis differentiates between trending markets and non-trending markets, also called flat trending markets. Trending markets can be either moving upwards and downwards. Upward moving market is called bull market, while...