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Commoditysignals

WTI OIL Triangle closing decides the trend.WTI Oil (USOIL) has easily hit our short-term target (see chart below) and is now consolidating: This consolidation is being done within a Triangle pattern, which as we saw on Friday it remained valid despite the fact that the price broke marginally above it, as the 4H candle closed eventually back inside it. This suggests that the (currently neutral trend) will change only when we have a 4H candle closing outside of the Triangle. If that is above it, then we will buy and target within the 76.50 Resistance and the 4H MA200 at 75.50. If it closes to the downside, we will sell towards the Support and target 68.00. The fact that the 1D RSI is above its MA line, indicates that the bullish case is slightly favored. ------------------------------------------------------------------------------- ** 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
XAUUSD Will make a bottom lower but long term remains bullishGold (XAUUSD) closed yesterday a 1D candle below its 1D MA50 (blue trend-line) for the first time since March 10 and that is a bearish continuation signal. As mentioned before, the long-term Support lever is the 1D MA100 (green trend-line), which provided the necessary support to rebound on the March 08 Low. That was a Higher Low at the bottom of the long-term Channel Up that started on the November 03 2022 bottom. As a result, the trend remains bullish and that would be a great buy opportunity for the long-term, targeting 2100. Based purely on symmetry, the 1D RSI pivot suggests we could be at a similar level as February 09. In addition, watch how neatly the 0.5 Fibonacci retracement level sits exactly on the Support level from previous Higher Low. On the Feb 28 Low, the price bottomed just before touching it. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
4
PALLADIUM Buy opportunity on the 1D MA50.Last time we looked into Palladium (XPDUSD) is was almost a year ago: This time the price has formed a Channel Up pattern after breaking above the dashed Lower Highs trend-line form the October 04 2022 High. The price is exactly on the 1D MA50 (blue trend-line) now, near the bottom of the Channel Up, which makes it a technical buy. Our target is the top of the Channel Up at 1685. A break below the 1420 Support, will be a sell signal instead, targeting the 2.0 Fibonacci extension at 1200. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPDUSDLong
by TradingShot
3
XPTUSD Buy opportunity with High expected in June.Platinum (XPTUSD) is trading on a Triangle pattern which is within a larger Channel Up. Last time we had this sequence on patterns was last November-December. Once the price hit the 1D MA50 (blue trend-line), it rebounded to the 1.5 Fibonacci extension. The current 1.5 Fib is at 1180 but we set a Target slightly lower at 1170. Notice how even the 1D MACD sequences between the two fractals are identical. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPTUSDLong
by TradingShot
XAUUSD Rebound on the 4H MA200. Strong bullish wave.Gold (XAUUSD) hit today the 4H MA200 (orange trend-line) for the first time in 10 days and is rebounding towards the 4H MA50 (blue trend-line). The long-term pattern remains a Channel Up, which is what helped us take the break-out buy late last month as illustrated on the idea below: This time the rebound is a clear bottom buy opportunity with a Higher Lows formation similar to April 03. A new closing above the 4H MA50 would basically confirm the buy signal. Both previous such rebounds targeted the 1.382 Fibonacci extension and the new one is at 2080. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
5
XAUUSD rising within the Channel Up on the 4H MA50Gold (XAUUSD) hit both of our targets on our previous short-term analysis (see chart below) as not only did it hit the top (Higher Highs trend-line) of the March Channel Up, but it also pulled back to the 4H MA50 (blue trend-line): As we pointed out, we expected that to be the Support and the recent rally since hitting it, validates that expectation. We expect this rebound to extend as high as the top of the Channel Up, hence target 2075. That is still under the 1.382 Fibonacci extension, which was the target on the previous two Higher Highs waves. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
9
XAUUSD hit the August 2020 Resistance! Can it close above it?Gold (XAUUSD) hit the 2075 Resistance that was formed on the August 07 2020 market Top and was the level that made a new aggressive rejection on the March 08 2022 High, in the midst of the Russia - Ukraine war. So far it has reacted with a rejection in the early trading sessions. They key in our view is the weekly (1W) candle closing. As long as it closes below the 2075 Resistance, we will short targeting the 1D MA50 (red trend-line) on the 0.786 Fibonacci level at 1975. If the 1W candle closes above the 2075 Resistance, we will target 2190, assuming a similar rise range of +21.26% as the January 30 peak. Keep an eye on the 1W RSI, which could be an early indicator. It has been trading under a Lower Highs trend-line since August 19 2019. Today it broke above it and turned overbought at 70.00 as it did recently on the January 2023 High. This may be an indication of a long-term break-out but at the same time getting overbought on 1W implying that a relief pull-back (that usually touches the 1D MA50 at least) may be in order. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
2
WTI OIL Very strong long-term Buy opportunity.WTI Oil (USOIL) hit the last remaining targets as pointed out on our April 24 idea: In fact, this completed our long-term 3 target approach as presented on our analysis three weeks ago: That has come after a Double Bottom buy almost 2 months ago (March 16), which falls into our usual long-term swing trading approach that we apply successfully on our activities: Right now we are on a similar buy opportunity like that idea above almost 2 months ago, as not only did the price bounce aggressively on the 64.50 Support (previous Low) but also the 1D RSI got oversold (30.00) and is rebounding. That has been a common feature on all previous Lower Lows within the long-term (8-month) Channel Down pattern that started on the August 30 2022 High. Every bullish leg towards the Channel Down Top, has always hit at least the 1D MA50 (blue trend-line). That is currently at 75.66 but declining aggressively and we expect contact to be made at 73.90, which is the top of the 5-month Pivot Zone (that has been a Support for 3 months straight). The previous Lower High (April 13) was made exactly on the 1D MA200 (orange trend-line) which is the long-term Resistance, so it is very likely to hit that level also on the long-term but until then we will have our outlook updated. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
2
XAUUSD Made the expected bullish break-out. 2070 on sight.Our Gold (XAUUSD) outlook is intact since last week's buy signal after the closing above the 4H MA50: Our target remains 2070 which is the top (Higher Highs trend-line) of the medium-term Channel Up pattern. Every pull-back to the 4H MA50 (blue trend-line) is a buy opportunity. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
2
WTI OIL Channel Down extended selling to 72.50.Perfect execution of our plan last Monday for WTI Oil (USOIL) as the price initially rebounded to the 4H MA50 (blue trend-line), got rejected and hit our 74.00 target: That is the top of the Pivot Zone that started back in mid-December. We are now expecting a (near) test of the 1D MA50 (red trend-line) as a Resistance to see if we'll get the rejection for bearish continuation as it happened on April 25. Our short-term target in this case is 72.50, the bottom of the Pivot Zone. All this is part of course to our long-term trading plan: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
XAUUSD on a breaking point. Get ready for the big move.Gold (XAUUSD) closed above the 4H MA50 (blue trend-line) yesterday for the first time since April 14. This is the first major bullish signal in a while but it is not confirmed yet as the price remains and in fact got rejected on the (dashed) Channel Down. A 4H candle close above it will be a buy signal for us, targeting the top of the Channel Up at 2070. On the contrary, a closing below the 4H MA200 (orange trend-line) will be bearish, targeting the 1D MA50 (red trend-line) at 1940. Note the there is a Higher High Bullish Divergence on the 4H RSI, having rebounded after getting oversold. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
3
WTI OIL Filling the downside gap but short-term rebound.The WTI Oil (USOIL) got, as we expected, heavily rejected on the 1D MA200 (orange trend-line), starting to fill the gap of March: Our next target is 74.00, just above the Pivot Zone, but on the short-term, with the 4H RSI rebounding after getting oversold (has given a 100% buy signal short-term in the past 4 months), we expect a rise towards the 4H MA50 (blue trend-line) for rejection. ------------------------------------------------------------------------------- ** 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
2
XAUUSD One step away from a major sell-offGold (XAUUSD) is testing the bottom (Higher Lows trend-line) of the Channel Up that started a month ago (March 20). The previous two times it hit this line, the price rebounded and a new Higher High was made. This time however the price has already been rejected twice on the 4H MA50, which keeps the short-term bearish (until it closes a 4H candle above it). With the 4H RSI oversold below 30.000 for the first time since March 07, we expect at least a short-term rebound towards the 4H MA50 and target 1995. If the candle closes above the 4H MA50, we will extend our buying strategy towards the top of the Channel Up, targeting 2060. If however we see a candle closing below the Channel Up, we will go short, targeting 1940 initially and upon a new 4H MA50 rejection, 1900 on the 0.618 Fibonacci. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
WTI OIL Broke below the 4H MA50. Sell confirmed.WTI OIL (USOIL) broke yesterday below its 4H MA50 (blue trend-line) and today upon re-testing it as a Resistance, it is currently being rejected. This is a major sell signal as since December 2022 inside the Resistance Zone, every such break-out was a confirmed sell. All prior 5 cases hit the Support Zone shortly after. Even an oversold 4H RSI doesn't mean a bottom will be formed. As a result we are confident to keep our medium-term sells (opened last week after the price got rejected on the 1D MA200 (red trend-line)) and target 74.00. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:CL1!Short
by TradingShot
3
XAUUSD Short-term pull-backs mean nothingThis is Gold (XAUUSD) on the 1M (monthly) chart where the long-term direction is best seen. Apart from the fast that it has been rebounding on the 1M MA50 (blue trend-line) since October, we can see that it has been trading within a Pitchfork, treating each trend-line as Resistance/ Support. At the same time, it gathers buyers every time the 1M RSI hits its Higher Lows trend-line and starts strong rallies when the MACD makes a Bullish Cross. The last such cross was completed on March. This indicates that every short/ medium-term pull-back on Gold doesn't affect a strongly bullish long-term trend in a market that based on the Pitchfork has incredible upside potential. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
4
XAUUSD Sell this pull-back, buy on the low.Gold (XAUUSD) broke bellow the Inner Higher Lows trend-line (dashed) and is headed for the 4H MA50 (blue trend-line) again. The long-term pattern is a Channel Up but we see also a Diverging Channel Up that that formed the April 13 High. Sell this pull-back and buy when the 4H RSI hits the bottom of its Rectangle which has provided the previous 3 buy opportunities. This is likely to take place on the 4H MA100 (green trend-line). Our medium-term target on that projected bounce is 2055. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
WTI OIL on a triple Resistance test! Get ready for a big move.WTI Oil (USOIL) has gone a long way since our buy call a month ago, that not only did it hit its target but smashed through the Jan Lower Highs and the 1D MA100: The critical development of the week is that it hit the 1D MA200 (orange trend-line) for the first time since August 30 2022. Naturally that alone constitutes big news as along with the 83.35 High of December 01 and the top (Lower Highs trend-line) if the 8-month Channel Down, form a Triple Resistance Cluster. In our opinion, as long as the price is inside the Channel Down, we have a huge long-term sell opportunity, with Target 1 being on the 1D MA50 (blue trend-line) at 76.50. If on the other hand breaks above the Channel Down, we will hedge buy on the short-term and target the 1W MA50 (red trend-line) at 88.00, which is untouched since October 10. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
4
XAGUSD First major sell signal in 3 months!We had a blast with our buy signal on Silver (XAGUSD) in late February as we caught the exact bottom on the oversold 1D RSI: Now the tide is turning as the STOCH RSI on the 1W time-frame is vastly overbought and is waving the first sell signal after more than 3 months. This doesn't mean that the price can't extend slightly its rise, but this is an optimal level to start adding sells based on our long-term strategy. Right now the price is just above the 0.618 Fibonacci level, having broken above the dashed Lower Highs but is near the dotted Lower Highs. A max extension near the March 07 2022 High and the 0.786 Fib isn't likely but isn't unrealistic at the same time. As mentioned though, that is good enough for us to sell and as of today we switch back to being bearish on Silver, targeting initially the 2 year Pivot at 21.750. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAGUSDShort
by TradingShot
1
XAUUSD This Channel Up is everythingGold (XAUUSD) is pulling back as we suggested with our last week's analysis based on the US10Y: The pattern that emerged is a Channel Up since the March 20 High and the price is right now on the 4H MA50 (blue trend-line). As long as it holds the Higher Lows trend-line (bottom) of the Channel Up, it is a buy signal, targeting 2050 (a Higher High). If it closes below the Channel Up, then longer term parameters will come in effect, first and foremost being the Fibonacci retracement levels from the March 08 Bottom. The 0.5 - 0.618 Fibonacci range happens to contain the Symmetrical Support Zone that come all the way from mid January. In that case, we will resume shorting Gold and target the top of the Zone at 1910. Notice how the 4H RSI has been inside a Channel Down while the price is on a Channel Up, indicating a Bearish Divergence. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
1
GOLD May have peaked medium-term based on the US10Y.Gold (XAUUSD) reached (even broke marginally) the top of its long-term Channel Up. At the same time, the US10Y (black trend-line) is almost on a Double Bottom similar to February 02. That was a medium-term peak for Gold and a one month correction followed as low as the 1D MA100 (red trend-line). Gold's peak was made after its 4H RSI broke above its Lower Highs trend-line, which turned out to be a fake-out. If the US10Y starts rebounding, Gold may form a similar peak and in that case we will turn bearish on the medium-term, targeting initially the 1D MA50 (blue trend-line) and the last Low at 1910. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
7
XAUUD Bullish pennant like last November?Gold (XAUUSD) is trading within a Bullish Pennant pattern since the March 20 top. Both the price action and the RSI on the 1D time-frame resembles the Bullish Pennant pattern of last November (both started forming after a +11% rise). That shortly after broke to the upside, as it technically does normally, and posted another +11% rise. Currently a break above it again, would seriously make the market consider another long-term rally. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
WTI OIL Near a long-term ResistanceWTI Oil (USOIL) hit our medium-term target last week but following OPEC's cuts, it opened with a big gap up on Monday: In order to more effectively understand the market dynamics after this move, it is best to view Oil on the 1W time-frame where we see all key characteristics of this move. First the rebound 2 weeks ago started after the price tested the 1W MA200 (orange trend-line) for the first time since February 01 2021. The price closed back above it and the rebound landed us to where we are now. This is just shy off Resistance Zone 1, which is holding since November 2022. This calls for the most optimal sell opportunity on a quarterly basis, targeting again the 1W MA200 and the 2 year Support Zone at 63.00. However with the 1W RSI on Higher Lows i.e. a Bullish Divergence against the candles' Lower Lows, we have to consider the probability of a potential bullish break-out. Since the 1W MA50 was a long-term Support turned into Resistance that hasn't allowed a 1W candle close above its since November 2022, we are willing to buy only if we close above it. The target on that occasion will be 93.00 (Resistance 2). ------------------------------------------------------------------------------- ** 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
1