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WTI Crude Oil (USOIL) 1-hour chart - SELLThe market is currently in an uptrend with higher highs and higher lows. Recent price action suggests a potential reversal or pullback from the resistance zone. Resistance Zone: The shaded grey area around 82.127 - 82.220 is a significant resistance zone where the price has shown rejection. Support Levels: Immediate support is around 80.473 - 80.417, marked by the red lines. A stronger support level is at 77.000, a psychological round number that aligns with previous lows. Above the resistance zone at 82.220, there may be buy-side liquidity where buy stops from short positions could be placed. Below the support level at 80.417, there may be sell-side liquidity where sell stops from long positions could be resting. The overall analysis suggests a bearish bias for USOIL (WTI), expecting a potential reversal or pullback from the resistance zone around 82.127 - 82.220.
BLACKBULL:WTIShort
by TopGBanks
Bearish on USDJPYThe recent price action shows a push towards a resistance zone, indicating potential exhaustion or a reversal point. The shaded area marks a significant resistance zone around the 157.700 - 158.000 levels. This zone has been tested multiple times and has held as a strong supply area. Immediate support can be identified around the 156.500 level, which aligns with previous swing lows and a possible demand zone. A stronger support level is around 155.500, a psychological round number that has acted as a base for previous price reversals. Below the 156.500 support level, there may be sell-side liquidity, where sell stops from long positions could be resting. The resistance area (157.700 - 158.000) is a supply zone, where significant selling interest could push the price lower. A notable fair value gap (FVG) or imbalance between 155.500 and 157.000 from previous price movements suggests potential areas for price retracement. Entry: Consider entering a short position around the 157.700 - 158.000 resistance zone. Stop Loss: Place the stop loss slightly above the resistance zone, around 158.200, to account for potential liquidity grabs. Take Profit: Aim to take profits around the immediate support at 156.500 and a more extended target around the 155.500 level, aligning with the demand zone and previous lows.
Short
by TopGBanks
1
US Federal Reserve member Kashkari & GoldUS Federal Reserve member Kashkari declares that there will be only one rate cut this year and it will happen in December. An interest rate cut by the Federal Reserve is generally considered bearish for gold. However, Kashkari's statement that there will only be one rate cut this year, and it will happen in December, could be seen as slightly bullish for gold in the short term. This is because it suggests that the Federal Reserve is not planning on aggressive rate cuts, which could help to support the price of gold.
OANDA:XAUUSDLong
by TopGBanks