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Commoditysignals

Could copper rise from here?Price is currently breaking out of a resistance level which is an overlap resistance and could potentially rise our take profit. Entry: 4.4291 Why we like it: There is an overlap resistance level. Stop loss: 4.3607 Why we like it: There is a pullback support level. Take profit: 4.5416 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERLong
by VantageMarkets
XAUUSD Channel Down leading to inevitable 1D MA100 test.Gold (XAUUSD) is failing to break above the 1D MA50 (blue trend-line) on successive tests and as long as it remains below it, the trend will be bearish. In fact the dominant pattern is a Channel Down and the last time we had such a formation was from December 28 2023 to February 14 2024. It was on that day (Feb 14) that the price bottomed exactly on the 1D MA100 (green trend-line) and initiated the incredible rally of March - April. As you can see, the two Channel Down patterns share similar characteristics. Both sequences experienced identical phases and the current one appears to be finishing phase (C) and on the next top test of the Channel Down, start phase (D), which should be the final and the one to deliver the 1D MA100 test. We expect that to be around 2260. Notice also how the 1D RSI sequences between the two fractals are also similar, in fact even more than the price action as the RSI filters out the more aggressive nature of the current price action. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
1
Heading into 50% Fibonacci resistance?XAG/USD is rising towards a resistance level which is an overlap resistance that is slightly below the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 29.91 Why we like it: There is an overlap resistance level which is slightly below the 50% Fibonacci retracement. Stop loss: 30.88 Why we like it: There is an overlap resistance level which aligns with the 78.6% Fibonacci retracement. Take profit: 28.67 Why we like it: There is an overlap support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAGUSDShort
by VantageMarkets
Could Silver bounce from here?XAG/USD is falling towards the pivot and could potentially bounce from this level to the 1st resistance which has been identified as an overlap resistance. Pivot: 28.76 1st Support: 27.96 1st Resistance: 30.23 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 suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAGUSDLong
by ICmarkets
2
Potential bearish drop for gold?Price has rejected off a resistance level which is a pullback resistance and could fall to our take profit. Entry: 2,337.01 Why we like it: There is a pullback resistance. Stop loss: 2,353.31 Why we like it: There is an overlap resistance level which aligns with the 100% Fibonacci projection. Take profit: 2,308.44 Why we like it: There is a pull back support level which is slightly below the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDShort
by VantageMarkets
1
Falling towards pullback support, could it bounce from here?XAU/USD is falling towards a support level which is a pullback support and could potentially bounce from this level to our take profit. Entry: 2,292.30 Why we like it: There is a pullback support level. Stop loss: 2,271.43 Why we like it: There is a pullback support level that lines up with the 161.8% Fibonacci extension. Take profit: 2,334.80 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAUUSDLong
by VantageMarkets
Bearish drop?XAG/USD has reacted off the resistance level which is an overlap resistance level that lines up with the 38.2% Fibonacci retracement and could fall to our take profit. Entry: 30.06 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 30.88 Why we like it: There is a pullback resistance level. Take profit: 28.80 Why we like it: There is a pullback support level which aligns with the 127.2% Fibonacci extension. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:XAGUSDShort
by VantageMarkets
Falling towards pullback support, could it bounce?The Silver (XAG/USD) is falling towards the pivot and could potentially bounce to the 1st resistance. Pivot: 28.83 1st Support: 27.70 1st Resistance: 30.08 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 suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAGUSDLong
by ICmarkets
WTI OIL Sell signal at the top of the Channel Down.WIT Oil (USOIL) didn't disappoint last time we looked at it (June 05, see chart below) and delivered our buy signal, easily hitting the 75.70 Target: The price is now at the top (Lower Highs trend-line) of the 2-month Channel Down and just below the 4H MA200 (orange trend-line), which is where the last Lower High was priced and rejected. At the same time, the 1D RSI is on the 53.80 Resistance, which was the level that priced the last two Lower Highs. Technically this is the most optimal sell entry on this pattern. We have a modest target at 72.45 (Support 1), as despite the fact that a Lower Low is expected lower, the 1W MA200 looms as a Support and long-term may form a strong Support base. That remains to be seen, so for the time being we take only short-term targets. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot
2
XAUUSD Is it oversold?Gold (XAUUSD) delivered our expected pump and dump move following the higher than expected Nonfarm Payrolls (NFP) on Friday: It almost hit our 2280 Target, so we recommend taking the handsome profits as there is high probability of a rebound towards 2360 and another dump. We are willing to re-sell there and target 2280 or if the 2277.50 Support breaks (candle closing below it), in which case our bearish break-out Target will be 2240, which would represent a potential contact with the 1D MA100 (green trend-line). As mentioned on our previous study, the current Rectangle pattern since mid April is fairly similar to the one from late October 2023 to late February 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
GASOLINE Medium-term buy opportunityGasoline (RB1!) has been on a strong Bearish Leg ever since the April 12 High, which is a Lower High for the 2-year Channel Down, and even broke below the 1D MA200 (orange trend-line). Having already touched the 0.618 Fibonacci retracement level, we expect a medium-term rebound, similar to the one on May 04 2023. The rally not only hit and broke above the 1D MA50 (blue trend-line) but also extended as high as the 0.236 Fib. As a result, we consider the current level to have a solid R/R behind it and buy, targeting 2.600 (just below the 0.236 Fib). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
WTI OIL Oversold. Short-term buy signal.WTI Oil (USOIL) hit the bottom of the 2-month Channel Down and is consolidating since yesterday. This prompts to being a technical Lower Low for the pattern and the buy signal gets even stronger as the 1D RSI broke below the oversold barrier for the first time in 6 months (since December 06 2023). The 4H MA200 (orange trend-line) provided the last rejection (Lower High) on May 29, so that is our Resistance and unless we break above it, the long-term trend remains bearish. But on the short-term we will use this oversold opportunity to buy and target 75.70 (+4.65% rise, which has been the minimum Bullish Leg % within the Channel Down. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
PALLADIUM Trend changing from bearish to bullish.Palladium (XPDUSD) gave us the most optimal sell entry on our March 15 (see chart below) sell signal: Now however it is time to take profit on that trade before the projected Target as the 1D RSI Double Bottomed, while the price is on Lower Lows. Even though this isn't a direct Bullish Divergence, when RSI Double Bottoms were formed along price Lower Lows, Palladium always started a rally, at a minimum of +21.30%. As a result, since the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) are squeezed the closest they've been to each other since November 2022, we turn bullish now, targeting 1090 (+21.30% rise). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPDUSDLong
by TradingShot
PLATINUM Massive profit last time. What's the next trade?Straight and plain success of our previous Platinum (XPTUSD) signal (April 24, see chart below), where we caught the exact Bullish Megaphone bottom and hit directly our 1060 Target: The price could now enter a consolidation phase, the last accumulation, similar to November 15 - December 15 2022, when after it touched the 1D MA50 (blue trend-line), it rallied to the bottom of the Resistance Zone. As a result, we are turning into buyers again, targeting 1100 (just below the Resistance Zone). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XPTUSDLong
by TradingShot
XAUUSD forming the first 4H Death Cross in 5 months!Gold (XAUUSD) broke below the 1D MA50 (red trend-line) and is forming today the first 4H Death Cross since January 12. As we mentioned on our previous analysis, we expect the yellow metal to trade sideways on the medium-term and that involves the price testing the May 03 Low on a potential contact with the 1D MA100 (green trend-line). This will be a mirror trade of the previous Accumulation Phase (late 2023 - early 2024), when Gold made contact with the 1D MA100 on February 13 2024 and then immediately started the new Bullish Leg. Our Target remains 2280. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
COPPER Going well according to our long-term plan.Last time we looked at Copper (HG1!), we established our long-term strategy (April 19, see chart below), which involves a new Bull Cycle, through a Channel Up pattern similar to 2020 - 2021: So far the plan goes flawlessly, as the price hit the top of the (green) Channel Up and is now pulling back. The 1W MA50 is about to complete a Golden Cross with the 1W MA200, the first one since January 11 2021! On the shorter term (current chart on 1D) the price is approaching the 1D MA50 (blue trend-line), which is the short-term Support but as with last time, we expect it to marginally break before Copper bottoms and makes a new Higher Low on the long-term Channel Up. To those who missed an early buy, we recommend entering once the 1D RSI hits its Support Zone. Our medium-term Target is 5.200 (Resistance 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Long
by TradingShot
NATURAL GAS Rejection at the top of the Falling WedgeNatural Gas (NG!) hit last week the top (Lower Highs trend-line) of the long-term Falling Wedge pattern that started on the April 10 2023 Low and was immediately rejected back to the 1W MA50 (blue trend-line). As long as it holds, this rejection indicates that technically, the new Bearish Leg should start. Our Target is 1.550 (just above Support 1). If however the trend reverses and gives a candle closing above the Lower Highs, we will take the sell's loss and buy instead, targeting 3.300 (projected 1W MA100 extension). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!
by TradingShot
XAGUSD continues to give excellent set-ups to trade.Silver (XAGUSD) couldn't have gone better on our last signal we gave (April 17, see chart below) as it did give us the pull-back inside Resistance Zone 1 that we wanted in order to buy and immediately rallied to the top of the Channel Up to hit our 32.00 Target: Since the break-out, the metal entered a more aggressive Diverging Channel Up (blue), which after a Higher High, it pulls back to the 0.618 Fibonacci retracement level and then rallies to the -0.5 Fib. As a result, we will wait until the price approached the 1D MA50 (blue trend-line) again as it did on May 02 and then buy, targeting 35.000 (just below the -0.5 Fib and at the Top of the Channel Up). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAGUSDLong
by TradingShot
WTI OIL Bullish Divergence aiming higher.WTI Oil (USOIL) has been consolidating within the 1D MA200 (orange trend-line) and the 1W MA200 (red trend-line) for a full month. We have previously seen the same king of consolidation in mid-2023 and then November 2023 - January 2024. On both occasions, the price then entered a medium-term Channel Up. Also on all occasions, the 1D RSI was on Higher Lows, while the price has been on Lower Lows, which is an indication of a Bullish Divergence. It is the exact same formation that Oil is currently on. As a result, we turn bullish on Crude for the medium-term, targeting $84.00 (just above the 0.618 Fibonacci retracement level and on the Lower Highs trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
XAUUSD Possible consolidation for the whole Summer.Gold (XAUUSD) is seeing strong selling this week following Monday's High, which was also an All Time High (ATH). The rejection took place very close to the Higher Highs trend-line that started back in early 2023. So far this is just a technical pull-back to test the 1D MA50 (blue trend-line) for the first time since February 29, and not a stronger correction. Both the price action though and the 1D MACD patterns, resemble the trading sequences of April - May 2023 and November - December 2023. After the Higher High top, they both turned sideways for 3 months and both hit the 1D MA100 (green trend-line). The April - May 2023 even dropped lower but the September 2023 correction was done on fundamentals and not technical reasons. As a result, we expect the next three months, i.e. the whole Summer to be at least a sideways price action/ consolidation, which by mid July may make contact with the 1D MA100. What this tells us is there will be opportunities to buy low and sell high in order to make profit on the medium-term. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
1
XAUUSD Short-term Channel Up.Gold (XAUUSD) is trading within a short-term Channel Up pattern since the May 03 Low, essentially throughout the whole month, and currently the price is consolidating below the 1H MA50 (blue trend-line). Such consolidation within the 1H MA50 and the 1H MA100 (green trend-line) took place on every single Higher Low formation at the bottom of the Channel Up. At the same time, the 4H RSI hits its Higher Lows trend-line. The minimum Bullish Leg % within this Channel Up has been +2.44% and the maximum +3.35%. As a result, we turn bullish now on Gold with a 2465 - 2485 Target Zone. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDLong
by TradingShot
WTI OIL Channel Down in full motion. WTI Oil (USOIL) eventually did give us the bearish break-out trade as per our last outlook (April 29, see chart below) following the first 4H Death Cross in 7 months and easily hit our 78.00 Target: As you can see, the expected Channel Down was formed and the price has been consolidating on the Higher Lows trend-line and the 1D MA100 (green trend-line) for 8 straight sessions. Once broken (1D candle closing below it), we expect the next Support to be tested, the 1W MA200 (red trend-line), which is a long-term one as multiple bottoms have been priced just below it both in 2023 and 2024. Each Bearish Leg of the current Channel Down has been around -7.95% so that is our next Target, $74.00, as a new Lower Low. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILShort
by TradingShot