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Quantafuel : Hanging man posted at previous failure levelQuantafuel - Intraday - We look to Sell at 32.10 (stop at 34.50) The hanging man candle on the daily chart is negative for sentiment. Price action has continued to trend strongly higher and has stalled at the previous resistance near 33.04. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. We look for a temporary move lower. The upward trending support line should provide the ideal target and fade level as medium term bulls build positions into the current weakness. Our profit targets will be 24.90 and 22.85 Resistance: 33.04 / 34.32 / 36.40 Support: 26.50 / 24.90 / 22.85 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
QShort
by Saxo
JICPT| Crude oil testing key z on China's Delta spreadHello everyone. Crude oil dropped by more than 2% on worries of delta spread in China. It all started from an airport of Nan Jing a couple of days ago, and then the delta variant quickly spread to over 20 cities. Today, the new cases are above one hundred. It meant a sever situation as China adopt zero-tolerance policy towards the virus. So, How the situation in China impact the crude oil prices? Firstly, China is the world’s biggest importer of oil. Data showed that China imported less oil in July than in June. The spread of the virus spooked investor's concern on the demand. I recalled the OPEC plus, a group of 23 nations led by Saudi Arabia and including Russia, will increase output each month by 400,000 barrels a day, beginning in August. The deal was reached on July 18th, it also triggered a wave of sell, pushing oil down by about 10% then. Now, with potential decreased demand, and confirmed increased supply, bearish on crude oil seems to be right. Secondly, there're other economic indicators that suggested China is slowing down, e.g. PMI,M2. So, one more point on the bearish side. Technically, the drop-base-rally demand zone on the daily seems to be strong, with flip and long-term moving average. To go further down, price is likely to go sideways for a while before taking out the zone of 65.22-66.69 . On the weekly though, there seems to be very strong demand zone. Fundamental contradicts with technical analysis . So what to do? To make it simple, I plan to look for short opportunities after the zone is violated .I already set an alert at the bottom of the zone. It would be a short swing. It takes time for weekly chart to terminate bullish patterns and form bearish structures. If the zone holds well, oil will go up to challenge $72. Give me a like if you're with me.
OANDA:WTICOUSD
by JICPT
USDCNH (H4): Short-Term PlayUSDCNH Timeframe: H4 Direction: Short Confluences for Trade: - Around Resistance Line of Previous High - Stochastic Overbought momentum - Fundamentally, China has seem to be slowing moving towards a psychological level of 7.00.Currently, the previous high proves to provide some resistance and we can take this as a short term opportunity to short USDCNH. Suggested Trade: Entry @ Area of Interest 6.9370 - 6.9550 SL: 6.9670 TP: 6.8736 RR: Approx. 2.11 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst