WTI oil (XTI/USD) is rising towards the pivot and could drop from this level to the 1st support which acts as an overlap support. Pivot: 83.19 1st support: 80.90 1st Resistance: 84.34 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
Hi Traders! USOIL is in an ascending price channel as it looks to break back above the 75.00 level. Here are the details: The price action looks currently bullish; the market swings are getting higher, and the price is about to break back above the 20 EMA. Our idea here is to buy market dips leading up to the 20 EMA break. Short-term targets are levels around...
Hi Traders! SILVER has broken below the neckline break in its head-and-shoulders pattern, and there is a possibility for a continuation to the downside if the market continues to stay below the neckline. Here are the details: After the initial momentum break below the neckline, the market is now retesting the neckline as resistance, and the 20 EMA has lined up...
Hi Traders! Our USOIL range zone looks like it is on the brink of a possible breakout. A triangle pattern has now formed on the daily chart, and a recent lack of bullish momentum tells us that we may be breaking to the downside. One thing to note, however, is that there was a rare dragonfly doji candle pattern, which is a candle pattern that you must watch out...
Hi Traders! We have strong resistance around the 73.95 level here on USOIL as we have not been above the 74.00 price barrier since the beginning of May 2023. The price action on the chart tells us that the market wants to go there. We have had numerous attempts to break the 74.00 barrier. We also have swings from the range with higher highs and higher lows. If...
Looking at the Goldman Sachs Commodity Index and how the prices went up dramatically from the Covid lockdown, i would say that there is still room for a final rally, before a major correction in 2024. The chart is self-explanatory. Looking forward to read your opinion about this.
Recession may be a red herring for a market fuelled by a supercycle While broad commodities have outperformed most major asset classes year-to-date1, the pressure of rising interest rates, a strong US dollar and fears of several large economies tipping into recession has led to a pull-back since the summer of 2022. In our Market Outlook, we argued that the...
XAUUSD price broke below $1,644, 23.6% Fibonacci Retracement (Fibo) level of the October decline from the $1,730 peak. Therefore, bears keep their sight on the October low at $1,617, below which the focus remains on the 2022 low at $1,615. The 14-day Relative Strength Index (RSI) is inching higher while below the 50.00 level, suggesting that the rebound is...
Welcome back Traders, Investors, and Community! Hi Traders, Gold on H4 has broken above the Resistance by a large red candle, It has also has been making HHs and HLs, so I am expecting that it goes up at least to 1841.84 ⬆️Buy now or Buy at 1808.8 ⭕️SL @ 1785.99 ✅TP1 @ 1841.84 ✅TP2 @ 1868.85 ✅TP3 @ 1905.2 We will have more FREE forecasts in TradingView...
As I wrote in this analysis, it is my first choice to defend myself against the inevitable future inflation. My idea on SLV:
The commodities/stocks ratio is now at the end of its bullish downward wedge pattern formation and about to breakout in the next year or so. This will be highly inflationary and will lead to the next commodities bull market. You'll want to be in commodities, rather than stocks during this period.
XAUUSD short and Long Follow the arrows and price action at key levels precisely. Good luck
Keep a eye on the price action of Gold here We may form a bull pennant.
TA: Balance of Power indicator looks like it has made a reversal, when that happens we consequently dump but that is a sign of institutional buying pressure- as the sell pressure is rotated to a small percent of the market buying the cheaper lot. At an important traditional and Fibonacci level- therefore if we don't break above expect a retracement in the green...
Gold continues to bullish at the expense of weaken US Dollar. This safe haven is currently on bullish mode without any sign to stop anytime soon. Its better to wait for the price action to see the best trading plan. Key Trading Plan: i) SHORT from the current price to the Take Profit Target at support 1765.7 ii) LONG if the price breaks 1819.9 resistance...
Sugar could retest a weekly support after a nice impulse. According to Plancton's strategy, we can set a nice order ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Platinum, monthly chart: 11 years long(!) support zone + Triple divergence + Morning Star
Pay attention to this if you are trading on the short-term. The 1H MA200 is normally there to support but can deliver a breaking as on June 15th. Also as long as the 1H MA50 is a Resistance the trend will be downwards within this Channel Down. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **...