WTI Crude Oil is almost oversold on its 1D technical outlook (RSI = 36.459, MACD = -2.670, ADX = 29.899) and coupled with the the price breaching inside the S1 Zone, the market is giving the best long term buy opportunity in more than 1 year. The S1 Zone is in place since March 15th 2023. Additionally, the 1D RSI has made a Double Bottom (DB), which has a 100%...
Gold is neutral on the 1D timeframe (RSI = 47.738) but turned bearish on its 4H technical outlook (RSI = 42.512, MACD = -2.860, ADX = 30.716) as it formed the first 4H Death Cross since January 15th. If Gold fails to reclaim the 1D MA50 and establish a week of trading over it, we project a slow decline same as January-February aiming at the S1 level (TP = 2,300)....
WTI Crude Oil has turned oversold on its 1D technical outlook (RSI = 29.383, MACD = -1.620, ADX = 31.641) as the price is approaching the bottom of the 2 month Channel Down. As long as it remains under the 1D MA50, the long term trend will be bearish but the oversold conditions and the 1D MACD, which is replicating the early December 2023 bottom pattern, call for...
WTI Crude Oil turned bearish on its 1D technical outlook (RSI = 39.681, MACD = -1.020, ADX = 30.568) but remains neutral on 1W (RSI = 46.231) as it is approaching again the 1W MA200. That is a critical Support as not only it is untouched since February 5th but is the long term level that Oil has been bouncing aggressively on since March 2023. We look towards a...
Natural Gas is only marginally bullish on its 1D technical outlook (RSI = 56.609, MACD = 0.187, ADX = 40.616) as it failed to cross over the LH trendline. At the same time, it is supported on the 1D MA200 having broken out for the first time since January 3rd. Long-term we remain slightly bullish on NG but on the short-term, we will wait for LH validation. If the...
Gold has turned bearish on its 4H technical outlook (RSI = 42.104, MACD = 6.500, ADX = 34.412) as it crossed today under its 4H MA50. This is the first time it does so after going that high since April 22nd. That was the start and validated sell signal for the Bearish Wave of the Channel Up. Consequently, we go short on Gold, aiming like then, at a -5.20% decline...
Gold is bullish on the 1D technical outlook (RSI = 62.834, MACD = 24.030, ADX = 26.032) and on the 4H formed the first Golden Cross since February 28th. Last time this sparked a very aggressive rise with the 4H supporting. We are targeting the top of the long term Channel Up (TP = 2,500). ## If you like our free content follow our profile to get more daily...
WTI Crude Oil is bearish on its 1D technical outlook (RSI = 35.492, MACD = -1.060, ADX = 41.641) as it got rejected on the 1D MA200 today. The longer it remains under the 1D MA50, the stronger the selling will be. Being inside a Channel Down similar to October-November 2023 that extended all the way to the 1.5 Fibonacci level, we are expecting selling for the rest...
Gold is overbought on its 1D technical outlook (RSI = 75.650, MACD = 67.600, ADX = 69.434) and appears to be unphazed by the recent rejection at the top of the Channel Up that pulled back to the 4H MA50. This is basically a consolidation that can be evolved to a similar pattern with March's. It was the 4H MA100 that held it on an uptrend at the time and has been...
WTI Crude Oil is on very healthy bullish levels on the 1D time-frame (RSI = 63.780, MACD = 1.930, ADX = 37.316) as well as on 1W (RSI = 60.882). This supports the notion that until 1W turns overbought, the 1D can continue to sustain the bullish sequence that started on the December 13th 2023 low. Having formed a 1D Golden Cross just this Tuesday, the last time we...
Gold is overbought on all long term timeframes, 1D (RSI = 79.774, MACD = 65.910, ADX = 64.635), 1W (RSI = 78.920, MACD = 78.590, ADX = 45.450) even on the 1M technical outlook (RSI = 72.546, MACD = 91.920, ADX = 43.804). This doesn't mean that a technical correction is bound to come soon but on the contrary that this is a very strong cyclical trend that is more...
WTI Crude Oil appears to have completed a multi decade Bear Cycle that started during the 2008 subprime crisis. Such long term trends and patterns can only be viewed on monthly timeframes and for this analysis we have chosen the 3M. Technically Oil is only neutral on its 1M technical outlook (RSI = 54.985, MACD = 2.990, ADX = 14.499), which indicates its strong...
Gold is vastly overbought on its 1D technical outlook (RSI = 80.447, MACD = 42.840, ADX = 50.847) and the reason is that since last month's (March) breakout and monthly closing above the 2020 Resistance, it started a new bullish hyper Cycle. It is overbought on the 1W RSI also (74.802) while the monthly (1M) is only a fraction away too (RSI = 69.871). This is a...
Gold is vastly overbought on the 1D timeframe (RSI = 80.321, MACD = 21.500, ADX = 21.500) with the recent rally hitting the top of the HH trendline of candle bodies of the four month Channel Up. The 4H RSI is displaying a massively overbought sideways structure which since October has marked market tops. The corrections that followed these three peaks ranged from...
THE KOG REPORT In last week’s KOG Report we said we were on the flip again so would be looking for price to target that 2030-28 level at some point early week before then looking for an opportunity to long the market into the 2040-45 region with extension into 2050. It was this region we said we would ideally want to hold any short trades down if we got the...
Gold has reached the top of the 4H Channel Down pattern, while the 4H MA50 and the 4H MA200 just formed a Golden Cross. Despite that, and as long as the 1D technical outlook isn't bullish (RSI = 54.450, MACD = -0.200, ADX = 28.783) but more importantly the price is inside the Channel Down, the sentiment remains bearish. The 4H RSI is on the same kind of Bearish...
Natural Gas is on a very sharp four month decline after failing to cross over the 1M MA50, the second most aggressive four month drop so far in the past 19 years. Since the July 2008 High, the market is trading inside a Channel Down and this sharp decline is technically the final phase of the Bearish Wave to a LL at the bottom of the Channel Down. That means that...
Gold is on the third bullish 1D candle in a row. That is after the Channel Down made a LL on the 1D MA100 and formed the current bullish wave. The 1D MA50 has been rejecting every breakout attempt since February 7th and is the ideal LH level. Having turned neutral on the 1D technical outlook (RSI = 48.139, MACD = -7.100, ADX = 31.092), this is the ideal level to...