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Bullish signs from Iron Ore Futures 3 scenarios: 2 bull 1 bear. 1. Bullish upper trend-line break from first wave leading diagonal (T1 equal to or greater than $106 and T2 ~$139), 2. ABC correction (blue) following extended correction - we are currently in wave B triangle (T1 $106 for 1:1 wave A), 3. Downward breakout for additional corrective retrace. At this stage scenario 2 looks the more likely. Before getting too far ahead; look for a lower trend-line bounce first. This is a 100% technical analysis and no element of fundamental analysis was considered. I am not a professional trader and my analysis if shared simply to further my own education.
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by flyinkiwi10
Oil Technical Analysis: OIL slumps to 2-week low near $62.00 The market is likely going to continue to decline towards 62.00 level. The next supports in line are seen at 61.80 and 60.50. OIL 61.80 level H4 200 ma Moving Average, So Oil Take a Buy position 61.00 and 60.50 Area. OIL Daily 200 ma Moving Average 62.60 level breakout and stable this level short Sell 62.50/62.00 level take profit 61.90 and 61.50 Area. Another side of OIL Stable 62.60 level buy this position, Target 63.50 and 64.00. Oil Resistances are seen at 64.00 and 65.00 level. Daily SMA100 55.66 Daily SMA200 60.56 Previous Monthly High 60.78 Previous Monthly Low 54.79 Daily Fibonacci 38.2% 65.45 Daily Fibonacci 61.8% 65.76 Today last price 63.02 Today Daily Change -2.12
OLong
by Saleh11
WTI OIL Volume Analysis hey traders, wti is still in a clear uptrend. and now the market is approaching multiple structure resistance levels looking left. Take a look at volumes, though on 11th of April we had a very calm trading day, we see a selling volume spike. Smart money started to sell and assets are changing hands. Despite the fact that the market has made a new higher high, we see one more selling volume spike. Volumes do not confirm the uptrend anymore. It is a warning sign for us. Now, let's wait for a bearish breakout of a rising channel. it is a very good confirmation signal. 60 and 58 are support levels for your targets.
FX:USOILShort
by VasilyTrader
XAGUSD Testing Resistance, Prepare For ReversalXAGUSD is testing its resistance where we expect to see a reversal. XAGUSD is testing its resistance 16.20 (horizontal swing high resistance, 61.8% Fibonacci retracement ,61.8% Fibonacci extension ) where a reversal to its support at 15.51 (61.8% Fibonacci retracement ,100% Fibonacci extension ) Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XAGUSDShort
by FlowState
WTI CRUDE . Long term Target HiTI posted a chart on 10th MAY, WTI can potentially reach 76/78$ before it drops .. The long term target has been hit, More downside is really temporary for me right now. Worst case scenario is $48 but 51.5/52$ should hold strongly. I expect a massive upside upto $100/104 from here. Not maybe would agree to that but I would be loading up from 53/51/48. everytime it touches these levels. As the downside Risk looks far less than upside. I have attached my MAY 10th Call for Short.
FX_IDC:USDWTILong
by shaxrashid
8
Get me a coffee: strong and blackI'm eyeing up a long entry on coffee. I'll look at trading this through the 3CFL ETF. If the trade goes as envisaged and hits my wave 3 target, it could yield 100% profit thanks to the leveraged ETF. Disclaimer: This is not financial advice. Do not follow my trades. Do your own analysis, make your own trading plans. I am not an Elliot Wave analyst and only use the tool to map out a general idea of how price may move. Constructive comments are welcomed and encouraged. So why am I taking this trade? The recent move up from the late September low looks pretty impulsive and price is currently printing what looks to me like a bull flag; As price has been falling throughout this year, volume has started to swell, giving clear bullish divergence More recently, in the July to September period of this year, the swelling volume could be considered stopping volume Price has bounced off the $96 dollar level (12 year low) a level which has previously been a springboard. Monthly / Daily RSI and stochastic RSI look bullish Why am I targeting $148 by end of year? Historical resistance level Confluence with specific, modest fib extension level Use of fib time tool to project key dates for pivots Any reasons to be cautious? Weekly RSI and stochastic RSI look bearish Price could possibly make a W bottom and even make a lower low, with strong bullish divergence on stoch RSI / RSI - which would provide another good entry for a long. Stop loss? Subject to the opening price on the ETF tomorrow, I'll consider placing a tight stop around the $110 mark.
ICEUS:KC1!Long
by matt8932
2