Gannlevels
CLV0: Two Potential SetupsThe above chart shows potential price development scenarios before the expiry of this contract. The higher timeframes are showing signs of selling, any weakness in oil at this point can be justified by long interest vacating their holdings at almost a 100% gain from YTD low. Though aggressive bears might join in for a swing lower, it is imperative to be looking for buying opportunities upon signs of weakness. Another way to buy the dip is to sell a put option, let's say a CL Dec'20 strike @ $38.50, which would give the option writer a $1.5k premium at the current market, giving him/her a Break-Even price of around $37.00 where the stop sells would be placed separately on the CLZ0 contract.
CLQ0: Mapping Bullish ContinuationFurther to the earlier ideas on the August delivery contract, I would like highlight the fact that it has now become the front contract of the Crude Light futures curve, and that it did so while being traded at plus 100% from its YTD low. When the June delivery contract went into negative, this contract was trading at around $20/bbl. Two months later it is trading above $40/bbl and seemingly bulls are still very much confident in their holdings. Buying the dips towards the 150% area from YTD low seems reasonable. This would mean another 25% gain from $40/bbl. The chart shows all of the relevant details on the above.
Important dates, time & price zonesLTC top might be on (1 hr chart)
1/5 at 14:00
6/5 14:00
12/5 14:00 (V.I)
Square of 144
Daily chart
13/5 is a very important day (3rd square of 7 from 18/12/2019)
24/4/2020 (8th square of 4)
7/5/2020 (9th square of 4 from 18/12/2019) & 61 days from 7/3/2020
27/4-28/4 (45-46 days from 13/3/2020)
12/5-13/5 (60-61 days from 13/3/2020)
13/5 (90 days from 13/2/2020)
12/5 (522 days from 7/12/2018)
12/5 Mer @ 61 48
12/5 Jup(natal) (0,360) Ura
12/5 Ura(natal) (60) Mer
11/5 Mar (0,360) Nep (natal)
Important top levels (zones)
97.9-101.5-105.10 (V.I)
83.51-87.11-90.71 (V. I)
69.11-72.71-76.31
Gold consolidation for 176 or 320 hrsHi guys
Gold mist probably will consolidate for the next 176 hrs or 320 hrs and it will retest 1745 on one exact number of them then it will fall 1679 and the next strong number that may stop the fall is 1643 and this is the strongest point to stop at.
Good luck.
USOIL Potential Support & Resistance AreasThis 3 day charts shows basic retracement levels, percentage increase levels from the current low and angle relationship based support & resistance areas. So far, the oil market saw a sharp surge from the low $42, a longterm demand area, and currently it seems there's still some room for further upside. This move up can be regarded as a retracement leg within a bigger downtrend, the common retracement level being 38.20%, which falls around the $55 mark. However, there is an inverse head and shoulders pattern also noticeable on higher timeframes, so buyers might push for the 61.80% after taking some profits. Buying into weakness seems reasonable for now.
Wti crude oil long term opportunity (Monthly)After the big crash of the us oil price now we have a great buy long term opportunity. The price has reacted after touching the 4/1 Gann level and now i will expected an up trend for the next week-month.
Similar situation on the weekly Gann analysis
This point could be the historical bottom for the wti market.
SPX ready for bounce until 2530?As i've said yesterday () the target i had expected for a bounce was 2450-2440.
The price is arrived near to this level (2441.18). Tooday i think we can see an up price. In my opinion the target for the day is near to 2530.
Based on tooday price movement we could undestand what the market will want to do in the next days.
SPX Daily analysis Today opening will be relevant to understand which will the market reaction.
In this moment my primary idea is: market want to continue his down phase. In this case i think we could see a small bounce near to 2450-2440.
If the market had to arrive on this level we probably see a bounce.
In case of this idea will be confermed, I will update the analysis as soon as possible.
SPX critical situation As you can see on the image the market now is testing the 1/2 Gann Fan. If the price had to broke this level the situation will become critical.
The 2540 level is important because if the price will go down the main trend for this market change from bull to bear.
In this case first target can be 2350 and i think i will go short. If the market reject this idea i will update my analysis trying to find new buy&sell points.
Next targets will update in future.
Jon Morgan's GBPUSD long analysis based on Gann 49 day cycle.The price action certainly confirms a number of cases for a bullish outlook, but more than that: The 49 day cycle.
I've written about the power of this cycle before and the importance Gann made with it. The 49-day cycle is what he called the 'Death Zone'. He said this because trends often find strong reversals from blow-off moves - which is exactly what we have in the GBPUSD 0.10% chat.