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Brent above @$100 might not be a myth !Brent have two recent bottoms 1.June 2023 ($72) and 2. August 2023 ($82.5) and has rallied more than 33% since July. The rally still looks to be continuing without till 496, $98.5 and $100 very soon. Given the strong momentum buildup and supply cuts from OPEC+ has given the oil a due rally which the cartel was expecting since June 2023. Technically speaking levels of $126 are also on the charts as the commodity is breaking out of a Declining wedge pattern which was in formation from Jul 2022 to Jul 2023 a strong supply side pressure will be giving the commodity due advantage to rise above $100 to $125.65 as we can see.
TVC:UKOILLong
by chandakpulkit
XAUUSD BIAS: Short-term BuyIn the H4 TF, XAUUSD is currently respecting the strong support level of 1955.19. If the current H4 candlestick could close and form an engulfing candlestick pattern plus the previous imperfect bearish tail bar, then this is a strong signal for the xauusd to push up to the 1982.82 resistance level. XAUUSD'S CURRENT MARKET CONDITION: LARGE RANGE. It's in a sandwiched state. TRADE STRATEGY: PICK THE TOP AND BOTTOM FACT: This is not the best place to buy the xauusd, but if you are an aggressive kind of trader, you can buy it now or wait to buy it at @1940. 00 or sell it at @1980.00
OANDA:XAUUSDLong
by OraclePips
Silver Weekly TFAccording to the given data, it seems that silver is currently positioned at the peak of a bearish channel and has encountered a decline trend line from October 2011. Moreover, it has already reacted to this trend line, and it is anticipated that it will undergo further decline. Similarly, gold miners are facing a comparable situation with a similar percentage drop as that of gold, indicating that gold might also move towards bearishness. My area of focus lies between 22.150 and 22.442, There may be several confluences that could present potential buying opportunities in the given area of focus. Overall, the market outlook for silver and gold miners appears to be bearish, and it is likely that prices may decrease in the coming week. After experiencing a surge of 30.73% over the past 42 days, I anticipate a correction of approximately 15% in silver. This correction could signal a shift towards bullishness in the future.
TVC:SILVER
by ChartStrategist
SILVER (XAG/USD) – Week 25 – One more bearish push expected.Our previous forecast for Silver came true, as we anticipated the drop that took place last week As it stands, in the coming days, we expect the price to pullback towards the resistance area and continue to drop towards the support level. There is a possibility for the bearish momentum to increase even more and head towards the $23 level, but that won’t affect the bigger structure, as we find ourselves in a big weekly uptrend! Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:XAGUSDLong
by financialflagship
28
🏈 Solid first Quarter for the Bears! 🐻The Bears are off to a good start after reaching our turnaround zone. After a spot landing on the 78.6% Retracement at $2001 price has dropped over $50, and we left our yellow target zone. We take that as a positive sign for further selloffs. However, a first good quarter doesn't make the game. We desperately need to break the red support line at $1916. Only if the bears manage to break this support, we have a final confirmation for lower prices. In this case, the next stop is around $1800. In our scenario, we can not tolerate prices above the $2024 mark. Should we break above this line, our scenario ist invalidated. What do you think, will the bears make the game?
COMEX:GC1!
by MarketIntel
Gold - Bullish Technical Technically, ascending triangle and trend lines show Gold is still looking on an up trend with bullish indicators. However, fundamentals of Fed Cut could lead to a large reversal, breaking bottom trend line and sinking below $1400. The RSI isn't showing overly overbought or undersold, so there may be some technical support/resistance from a break out either way. Due to the unknown of how the market will react to what the Fed does, I will be either looking for a reversal of the up trend and short, or if it continues on the current trend and does a quick break even higher, continues on higher highs, and lower lows, I will look for RSI overbought conditions and short there.
FOREXCOM:XAUUSDShort
by KevinOrchard