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WTI OIL 4H Death Cross. Trade the break-outs.WTI Oil (USOIL) formed yesterday a Death Cross on the 4H time-frame, the first such (bearish) formation in almost 2 months (since November 17 2022). The price got rejected exactly on both the 4H MA50 (blue trend-line) and 4H MA200 (orange trend-line) following last week's rejection (January 03) on the 1D MA50 (yellow trend-line). We covered this on our last week analysis: The only pattern that is in favor of Oil rising is the Channel Up of October 18 to November 07, which held the Medium-term Support. A similar Channel Up can re-test the 1D MA50 but as always on risky set-ups, it is best to trade the break-out. That is the 76.70 Resistance, between the 4H MA200 and 4H MA50. On the downside, a break below the 72.50 Support, targets a Lower Low on the long-term Channel Down (dashed) close to 68.00. As before, keep an eye on the 1D RSI, which has a clear Lower Highs trend-line that offers solid sell entries. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOIL
by TradingShot
4
Oil Struggles to Recover $90Oil seems to have bottomed out at $85.55. We saw good support from green triangles on the KRI, and a subsequent pivot back to the high $80's. We are now just below $90, with $90.06 in particular being the level to break before attaining higher levels. We should see significant resistance there. The Kovach OBV is bearish and keeps pressing lower. If we fail to test the $90's, then $85.55 should provide support, with the next support levels below including $84.75 and $83.76.
NYMEX:CL1!Long
by quantguy
Are Feeder Cattle Setting Up for a Bigger Directional Move?Feeder Cattle Technicals (August): Feeder cattle made an attempt to breakout yesterday but fell flat, despite the bloodbath in the grain complex. As mentioned in recent reports, the inability to take out recent highs with the collapse in grains should be a caution flag for the Bulls. That’s not to say we can’t rally from here, but the recent price action has been dismal. Perhaps feeders were pricing in a breakdown in corn prices for a while now, that’s the first thought that comes to mind. Nonetheless, the market is consolidating and looks ready for a bigger directional move once support or resistance gives way. Resistance: 175.35-175.65****, 176.80-177.075*** Pivot: 171.45 -172.40 Support: 169.40**, 167.325** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CME:GFQ2022
by OliverSloup_BlueLine
Copper breaking outTechnical Analysis As you can see in the chart, every red square is showing a consolidation period, followed by a strong rally. Today's action is showing strength as we are seeing a potential breakout, outside the 1-month consolidation period. Trade setup The light-blue arrows are potential measured moves. However, I would follow the 5sma or 10sma, as a stop-exit for 50% of your position. Fundamental Analysis There is some concern around inflation, all though the Fed maintains he believes it will be transitory. Here is the way I follow inflation, which is a free chart by the Federal Reserve Economic Data : fred.stlouisfed.org Another way is with the TIP etf.
AMEX:CPER
by dorfmanmaster
1
Gold - Hot metalGold (1H) - intraday bullish bias The bullion rallied above the 1527 resistance with a strong momentum, which indicates that buyers are getting more confident. The RSI pulled back from the over-bought area for a cool down, we can expect the price to consolidate for a few hours near the moving averages and the trendline before moving up towards 1540. The uptrend stays intact as long as the trendline is respected. Key support: 1524/1516 Key resistance: 1535/1544
TVC:GOLDLong
by INFINOX_Capital
Silver (July/18) AnalysisSilver We are in the deep sell-down mode lately and there is no end in sight at this moment. It shall go lower as there are more bear forces are in it. I foresee a strong support nearly at $14.5. So, the sell is still the better bet. Press "Like" and "Follow". Sonic Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
OANDA:XAGUSDShort
by SonicDeejay
3
I WARNED GOLD BULLS BUT...CRUCIAL AREA FOR GOLD'S FUTURE!As i tried to warn the Gold's bulls about this ''fake rally'' at my previous article now it's good time to start to search for a reversal area. Gold as most metals are still in a bear market.From the long-term view on gold we can undesrtand that after the 5 wave structure of the 5 Elliott waves we can are in a A-B-C correction waves as mentioned in previous article. Now of course the hawkish F.O.M.C played a role at recent Gold's rally but this was something it has been expected a lot time now so of course it's priced in our technical analysis. The question is if Gold can keep this short-term ascending channel or mid and long term trend will remain bearish. TECHNICAL OBSERVATIONS 1.As we can see at the chart Gold moved until the 1.618 Fibonacci extension from the initial uptrend move(AB). 2.We warned you that there is no too much space for Gold's Bulls as a lot of factors palyed role explained in article below. 3.If we take the Fibonacci extension from the last swing up we can notice that the well respected 1.618 Fibonacci extension comes at 1,237$/ounce area and coincides with a lot of facts that's why is very important. 4.At the 1,240$/ounce area we have: a.Previous support/resistance level. b.We have the 200EMA. c.We also have the bottom trend line of the short-term ascending channel. d.The 1.618 Fibonacci extension of the last upward swing as mentioned (CD). e.We also have the 61.8% Fibonacci retracement of the bigger upward swing (ED). For all the reasons mentioned this area is very important area as if this area doesn't help gold for a bounce is a bearish sign and we are looking for further downward continuation at S/R levels shown at the chart with blue dotted lines,if this area provides a support level for gold we should gradually another effort of Gold to break the 1,300$/ounce area. No matter what will happen we will keep you informed for more profits. Thank you for support. Happy trading guys!
TVC:GOLD
by The_Greek_Trader
IS CRUDE'S OIL FALL OVER?After so many recent facts occured regarding the crude oil and energy sector generally it wouldn't be possible to analyze it correctly in one article and that's why i am not going to talk about the changes on ''fundamentals'' of Crude Oil,if you can call them this way. So i will exclude the decision of president Trump to cancel the Paris climate agreement,the tension between the Qatar and nearby countries and the enlargement of O.P.E.C agreement and many others factS and I will focus on the chart as technical analyst listening only the price. TECHNICALLY OBSERVATIONS: 1.Price moved below 200EMA. 2.200EMA started to sloping downwards. 3.We can notice 2 channels the mid-term descending channel and the short-term ascending channel. 4.We are about to have a bullish Bat pattern. 5.We have a bullish RSI divergence. 6.Stochastics are in oversold area. 7.We have a strong support at these levels as price had bounced back from these levels at the past. 8.If we take the Fibonacci extensions of the two legs AB and BCwe can see that it perfectly coincides with the support area. 9.Everytime we bounved back from these levels we had a strong green candle.This time we can see a weak price action and two doji candles if today price close at these levels which is a bearish continuation formation that's why i believe we are going to see a litle further downward move to Bat pattern completion before we bounce back. 10.Also if price retrace to those levels we have a re-test of bottom trend line of the short-term descending channel. POSSIBLE TRADE: PLACE PENDING ORDER AT BAT PATTERN COMPLETION 43.35$ FIRST TARGET T1 AT 47.50$ WITH P/L RATIO 2.15 SECOND TARGET AT 50$ WITH P/L RATIO 3.50 STOP LOSS AT 41.60 THANK YOU FOR SUPPORT! HAPPY TRADING!
NYMEX:CL1!Long
by The_Greek_Trader
6
Brent oil - More gains on hourly closing above $49.38 Hourly chart pattern - bearish price RSI divergence Resistance - $50.00, $50.89, $52.00 Support - $47.79, $46.80, $45.32 Brent appears poised to test psychological level of $50.00 if prices confirm a close above $49.38 on hourly chart. Moreover, such a closing would negate the bearish price RSI divergence on the hourly chart. Failure to do so could trigger a minor technical correction in oil prices. However, bullish invalidation is seen only if prices see a day end closing below $48.26, in which case we would have a bearish price RSI divergence on the daily chart.
FX:UKOIL
by TipTVFinance