Get started

Commoditiestrading

XAUUSD: Deceiptful 1D Golden Cross on All Time High territory?Gold entered the All Time High territory on heated overbought technicals on the 1D timeframe (RSI = 73.661, MACD = 29.580, ADX = 38.098) so far coming only a fraction away from hitting the May 4th 2023 ATH. Practically this is a Resistance line that formed long term tops and rejected the price another two times, on March 8th 2022 and August 7th 2020. The least immediate decline has been -6.15% (May 4th 2023) then -8.62% (March 8th 2022) and the maximum of -10.35% (August 7th 2020). Keep in mind that all three selloffs hit (or nearly hit) the 1D MA50. This time however, the market faces a significantly altered dynamic as along with the ATH test today, it formed a 1D Golden Cross. Every time since The August 7th 2020 High, Gold formed a 1D Golden Cross, a rally always followed. So far we've had four such formations into rallies. If the highest ever Golden Cross can be enough to invalidate the ATH and close a week over it, then we can expect the psychological level of 2,100 to be tested immediatelly. If not, then a minimum of -6.15% decline will send Gold to 1,955 and most likely by that time under the 1D MA50. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
XAUUSD: Channel Up on 4H.Gold is neutral on its 4H technical outlook (RSI = 55.793, MACD = 4.760, ADX = 31.119) as it reached today the bottom HL trendline of the short term Channel Up. So far it is reacting with a bounce and that is a buy signal, aiming at the R1 level (TP = 2,002), as every rise sequence inside the Channel has been around +1.90%. Today's Low was supported on the 0.5 Fibonacci level also, so if it breaks, the bullish trend will be invalidated and we will sell, aiming at the 4H MA200 (TP = 1,950). Despite the presence of support levels such as the 4H MA50 and S1, in that case we expect the decline to be stronger, a very likely scenario indeed since the 4H RSI displays a Bearish Divergence, similar to the Bullish one that gave the buy signal on November 13th. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
WTI CRUDE OIL: At the bottom of the 6 week Channel Down.WTI Crude Oil hit today the bottom LL trendline of the six week Channel Down, turning oversold on the 1D timeframe (RSI = 31.036, MACD = -2.860, ADX = 46.284). That alone is a strong medium term buy signal, aiming at a +10.15% rise (TP = 79.50), which is how much the previous bullish leg of the Channel rose by. That is where the R1 level is also (79.75) and depending on how aggressive the rally will be, it may even extend as high as the 0.618 Fibonacci level (again same as the October 20th LH) and test the 1D MA50. Keep in mind that the 1W MA200 is slightly lower and is the level that supported WTI on many successive tests from March till June, closing all 1D candles over it. Also the last time the 1D RSI broke the 30.00 oversold level was on March 17th and a very aggressive rebound followed. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
1
NATURAL GAS: Rebound expected near the 1D MA50.Natural Gas is on a six day bearish streak, turning neutral on the 1D technical outlook (RSI = 47.415, MACD = 0.105, ADX = 27.914). The pattern since April is a Bullish Megaphone and every pullback like this, has been a buy opportunity. The last one reversed just before it hit the 1D MA50, and as the 1D RSI is also near the S1 level, we turn bullish, targeting the R1 level (TP = 3.645). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYMEX:NG1!Long
by InvestingScope
2
XAUUSD: Bullish inside Channel Up. Bearish under it.Gold turned again marginally overbought on its 1D technical outlook (RSI = 70.196, MACD = 25.640, ADX = 45.356) as it managed to stay supported inside the Channel Up pattern of October, over the 4H MA50 as well. Even though Gold's price action this past month took many traders by surprise, its price action is really that simple, a technical Channel Up, which keeps the trend bullish inside it (TP = 2,055) targeting the 3.5 Fibonacci extension (like the October 13th HH) or if it crosses under the 4H MA50, bearish targeting the 4h MA200 and 0.5 Fibonacci global retracement level (TP = 1,922.50). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
2
WTI CRUDE OIL: Channel Down emerging.WTI Crude Oil got rejected on Friday on the former HL trendline which should now be considered a Resistance, rejecting the attempt to resume the uptrend. This turned the 1D timeframe technically bearish (RSI = 41.271, MACD = 0.120, ADX = 25.766) and the 1D MACD Bearish Cross (straight after a Bullish Cross) allows us to attempt a short entry, targeting the 1D MA200 (TP = 78.50). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
4
XAUUSD: Excellent opportunity to buy the dip this week.Gold is on a fierce rally since the October 6th bottom that has turned the 1D technical outlook overbought (RSI = 71.518, MACD = 17.530, ADX = 38.679). The price crossed over the Fibonacci 0.618 level but Friday's 1D candle closed downwards leaving a big wick above (but still closed green). We may see a Triangle consolidation much like March 20th-April 3rd before a higher price, allowing the 1D RSI to drop under 60.000 again the the 1D MA50 to approach within supporting distance. Technically, the whole pattern since September 20th-now, is indentical with February 2nd-March 20th, as their highs and lows are on symmetric levels. Consequently, this week's pullback can be an excellent opportunity to buy the dip and target the candle body high of May 4th, the All Time High (TP = 2,050). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSD
by InvestingScope
WTI CRUDE OIL: Short term sell signal unless this Fib breaks.WTI Crude Oil is on a neutral technical outlook on the 1D timeframe (RSI = 54.002, MACD = 0.110, ADX = 20.935), naturally so as it is ranged between the 1D MA50 and 0.618 Fibonacci level for the past four days. The MACD now formed a Bullish Cross, which gives an edge to buying but only if the 0.618 Fibonacci level breaks. A similar fractal in May-June offered excellent sideways opportunities until the 0.618 Fib broke. Consequently, we are selling (TP = 83.20) for as long as the price is under the 0.618 Fib (and buying the bounces) but will buy if the price crosses over it (TP = 95.00). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
XAUUSD: Relief rally on the cards.Gold is oversold both on the 1D as well as the 4H timeframes (RSI = 20.366 and 21.792 respectively) hammered way under the 4H MA50 and the 4H MA200. As long as the yellow metal traded under the LH trendline, every relief rally touched the 0.5 Fibonacci level. We expect a similar rebound that will get triggered if the 4H MACD completed a Bullish Cross (being vastly oversold). TP = 1,880 (the 0.5 Fibonacci). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
So… how’s that deflation narrative looking?We’ve become so accustomed to headlines of ‘peak inflation’ and falling input prices that some have been throwing the wonderful ‘deflation’ word around. And we think most would enjoy a bit of deflation, as that would result in lower interest rates. However, with commodity prices (particularly oil) being a key driver of inflation, a lot of the softness can be tied back to the underperformance of commodities over the past 12 months. Supply chain disruptions have also been in the rear-view mirror and no longer a concern (or are they?) Over 30,000 UPS workers are vowing to strike if a new pay deal is not negotiated by 1 August, which should throw a nice spanner in the works of the US (and global) parcel delivery system. Russia has pulled out of a key grain deal and is bombing Ukraine ports to derail trade in the Black Sea. And India has banned rice exports (apart from Basmati) to fight domestic inflation, adding to fears of another round of food inflation. It is therefore worth noting that the Thomson Reuters CRB commodities index is seemingly breaking out of a 12-month retracement on the monthly chart. Furthermore, the retracement lasted 11 months before June’s small bullish candle, so the broad commodities index may have bottomed in May at -19.8% y/y. And assuming this is the breakout of a falling wedge, it projects a target around the 329.60 high. But if it were deemed a bull flag, the target sits around 365. And what do we think will happen to consumer prices further down the track? Of course, they will begin to rise again. And the worrying fact is that inflation tends to come and go in waves, so if commodities continue to rally then it looks like the next wave of rising y/y inflation is pending.
TVC:TRJEFFCRBLong
by CityIndex
WTI CRUDE OIL: First time on the 1W MA50 since August 2022!WTI Crude Oil reached the 1W MA50 on today's session for the first time since the weekly candle of August 29th 2022, so the level has been kept intact as a Resistance for 11 months straight. The 1W time-frame is neutral (RSI = 54.478, MACD = -1.030, ADX = 19.324) indicating that on such a strong long term Resistance, this is a low risk sell entry. We will trade this however after a bearish breakout and the trigger will be give if the price crosses under the HL trendline, in which case we will target slightly over the 1D MA100 and S1 (TP = 74.00). Beyond that, if a subsequent rebound gets rejected on the 1D MA200, we will sell again and target slightly over S2 (TP = 67.10). Watch if the 1D RSI gets rejected on the 68.75 Resistance. It will be a Double Top rejection. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
6
XAUUSD: Strong rally started on the 1D MA50.XAUUSD on the 1W timeframe shows a bullish technical action still at its start (RSI = 59.100, MACD = 26.140, ADX = 22.906) supported by the fact that this week Gold is rising after holding the 1D MA50, which was the Resistance for the last 2 months. This rise is an extension of the HL rebound at the bottom of the 8 month Channel Up and has already reached our first TP which was the 1,985.50 R1. A candle close over it (which will also be over the 0.5 Fibonacci level), targets the 0.786 Fibonacci (TP1 = 2,041) and eventually a crossing over R2 targets R3 (TP2 = 2,082). An key observation is that the 1W RSI is trading inside a Rectangle at the same time as the price's Channel Up. Top can be used to take profit and sell. A secondary observation is that the 1W MACD is on course to form the first Bullish Cross since November 2022. If it does it will be a huge long term buy signal. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
7
XAUUSD The first Golden Cross (4h) since March can deliver 2005.Gold is trading inside a Channel Up that got it off the prior downtrend as it crossed above the MA50 (1d). The price hit the top of the Channel Up, so a pullback is expected, same as July 3rd and July 10th. Perhaps the most important development today is the first Golden Cross (4h) since March 15th. Trading Plan: 1. Buy near 1,966. Targets: 1. 2005 (top of Channel Up). Tips: 1. The RSI (4h) is perhaps more illustrative of the expected minor pullback as it appears to have completed a leg similar to those that peaked on July 7th and June 30th. Also there is a Rising Support to consider for the Channel Up. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSDLong
by TradingBrokersView
2
WTI CRUDE OIL: Critical triple Support level. Huge downside beloWTI Crude Oil got heavily rejected on the 1D MA200 on Friday (the 1D RSI also on the oversold 70.000 level), the long term technical Resistance of the asset, and now the 1D timeframe is very close to turning neutral (RSI = 55.9310, MACD = 1.200, ADX = 35.829) for the first time since July 5th. Today the price has hit three key support levels, the HL trendline since the bug rally started, the 1D MA100 and the 4H MA50. Practically, a candle close under the 1D MA100, is a sell extension validation and we will see to target first the 1D MA50 (TP1 = 71.75) and secondly the S1 (TP2 = 66.80). As long as the Triple Support holds, we will buy since the risk is very low and target the 1D MA200 again (TP = 76.90). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
4
XAUUSD: Hit the 1D MA50 after nearly 2 months.Gold crossed over the 1D MA50 today for the first time in almost 2 months (since May 17th). As the 1D timeframe turned bullish again (RSI = 58.454, MACD = -7.380, ADX = 44.489) this is the first major bullish signal of a projected new long term rally. However we will wait until the first 1D candle close over the 1D MA50 and make a confirmed buy entry. Our first target is the R2 (TP1 = 1,985.50) just under the 0.5 Fibonacci level and second the 0.786 Fibonacci level (TP2 = 2,041.00) just under the R3. It has to be mentioned that the price also crossed above the 1D MA100 today. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
WTI CRUDE OIL: Sell opportunity on the LH trendline and 4H MA200WTI Crude Oil hit today the 4H MA200 after more than a week flipping the 1D chart neutral and the 4H bullish (RSI = 61.440, MACD = 0.100, ADX = 44.090). This is however approaching the RSI's R1 Zone, holding since April, while the LH trendline looms right ahead. Also this is where the 0.5 Fibonacci level is. Technically this is the most optimal sell entry for the short term and we will take full advantage of it targeting the S1 (TP = 66.80). On the contrary, a crossing over the LH trendline, will be a buy entry targeting the 1D MA100 and 0.786 Fibonacci level (TP = 73.00). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILShort
by InvestingScope
5
WTI CRUDE OIL: Short term buy as the 4H MA50 held.WTI Crude Oil rebounded yesterday upon hitting the 4H MA50 and as the 4H technicals turned bullish (RSI = 55.674, MACD = 0.250, ADX = 26.371), this is a buy opportunity on the short term. We are targeting the 1D MA100 (TP = 73.50), where we will place the first medium term short (TP = 68.00). The maximum technical extension for this year has been the 1D MA200, so if the 1D MA100 breaks, we will place our second short at 77.00 for an even higher return trade (again TP = 68.00). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
15
WTI CRUDE OIL: Pivot level separates sell from buy trade.WTI Crude Oil got rejected today exactly on the 0.5 Fibonacci retracement level, which is the pivot level we have identified that determines the short term trade. The medium term pattern is a Megaphone and with both the 1D and 4H timeframes neutral (RSI = 52.099, MACD = -0.100, ADX = 28.689), we can easily realize that the price is exactly in the middle of the pattern, hence the Pivot. We will buy if a 4H candle closes over the Pivot (71.05) and target the 1D MA100 (TP = 74.00). Similarly we will be selling as long as the candle closes under the Pivot and target S2 (TP = 64.00). The RSI is trading inside a Triangle, whose top and bottom can help you take profit earlier if needed. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOIL
by InvestingScope
14
WTI CRUDE OIL: Solid buy opportunity, targeting the 1D MA100.WTI Crude Oil has a sudden sell-of on the current 4H candle that touched the 69.00 price level and was quickly bought back. The 4H timeframe remained neutral despite this (RSI = 48.787, MACD = 0.110, ADX = 18.840), providing the ideal buy opportunity for the final leg upwards and test of the 1D MA100. As you can see, the 4H RSI is fairly similar to the the first 2 weeks of may where the Channel Down started the bullish leg to the HH trendline. We are bullish already with TP = 74.50. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
4
XAUUSD: Strong buy signal targeting the 4H MA200Gold hit yesterday the HL trendline, which is the bottom of a Triangle pattern that has the R1 (1,985.50) as the Top, and is rebounding. This rebound was also made on the 1D MA100, the third time this happens in the past 10 days. The rise has already reached the 4H MA50 and turned both the 1D but more importantly the 4H timeframe (RSI = 49.565, MACD = -1.650, ADX = 18.715) neutral. We are already bullish, targeting the 4H MA200 with TP = 1,980. If we close over the R1 on a full 1D candle, we will enter a buy again, targeting towards R1 (TP = 2,020). The 4H RSI is having a clear Buy Zone since May 25th, that might be useful as this rise continues for buying upon pull backs. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
1
XAUUSD rebounded over the 4hour MA50 again. Bottom confirmed.Gold / XAUUSD hit the 1day MA100 and rebounded again over the 4hour MA50. That is the same bottom confirmation signal that the market gave on March 9th. The 4hour MACD is about to make the 3rd straight Buy Cross on a Rising Support again same as in March. Buy and target 1985.50 (Resistance A) short term, 2020 (Resistance B) medium term and 2080 long term. Previous chart: Follow us, like the idea and leave a comment below!!
FX_IDC:XAUUSDLong
by TheCryptagon
8
WTI CRUDE OIL: Formed a Megaphone. Buy signal.WTI Crude Oil formed a Megaphone pattern and is now near its bottom with the 4H time frame on oversold technicals (RSI = 27.320, MACD = -1.180, ADX = 31.676). This is a short term buy signal, targeting the top of the Megaphone, 1D MA100 and 0.618 Fibonacci Resistance Zone (TP = 75.00). A breaks under the Megaphone and S1 targets S2 (TP = 63.65). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:USOILLong
by InvestingScope
13
XAUUSD: Excellent buy opportunity on the 1D MA100Gold reached today a triple Support Zone, the 1D MA100, the bottom of the Channel Up and S1 (1,935.50). The 1D time frame is technically bearish (RSI = 40.784, MACD = -12.590, ADX = 46.379) but those where the exact same conditions that formed the November 3rd 2022 and February 27th 2023 bottoms. Both bottoms gave way to price rallies that made at least a +10.20% increase. Consequently, we have two targets: short term the R1 (TP1 = 2,083) and long term a +10.20% increase (TP2 = 2,130). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope
11