Beyondtechnicalanalysis
USOILUSOIL is been on enormous bull run. And now reached to daily resistance zone.
In past bears took benefits from this level multiple time and turn the trajectory of commodity.
Like in past , this time it is also looks like bears were waiting for this level again, as it can be seen from the chart that bullish momentum being fade out.
more ever bearish divergence also suggesting a control of bears is starting now.
USDJPYUSDJPY is trading in bullish parallel channel and completed the AB=CD pattern within the channel. After pattern completion the pair is lacking bullish momentum starting to change its direction from bullish bearish and seems like bears are taking control. If the bears continue to took control , their next target will be 140.80 region followed by 140.
MAGICUSDTMAGICUSDT is showing some good bullish momentum. As the price is still under bearish trendline but it seems like the price is at verge of breakout. Currently the price is getting strong support from previous broken level. If price close successfully above 0.8230 level, which is the breakout of declining trendline, you can trade it with buy stop.
GMXUSDTGMXUSDT is trading in bearish channel and smoothly following technical pattern of break and retest of structure. currently the instrument is retesting the broken support level and seems like it is getting ready for another sell off.
AUDNZDAUDNZD is trading in long term bearish channel and respecting well the highs and lows of channel. price formed temporary small bullish channel within large bearish channel but failed to sustain. Currently the pair is retesting the broken support level and it seems like the pair is heading to further downside.