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Buying opportunity at 2643-2628Gold is currently facing some selling pressure near 2648, but the overall trend remains bullish with a high probability of breaking through. In the coming days, prices are likely to rise above 2660, making buying the primary trading direction for now. In a weak market, gold may fluctuate multiple times within the 2643-2628 range to build up momentum. In a strong market, prices could rally after just one retest today. However, there’s also a possibility of breaking below the support. If that happens, the likelihood of a short-term drop to 2580 will increase significantly.
OANDA:XAUUSDLong
by TradingGuide_Dean
XAU/USD Intra Day/Week Play Gold excited us again last week trading back up to near all time highs so with the coming week based purely on technicals we could anticipate the following happening. Breakout to the downside past 2407 towards key level of 2395 which would then return back to return back to 2406 which would put a break and retest strategy in play for a continuation to the downside to test major level of support at 2372. I am keen on seeing some sort of range ensuing for a few day but ultimately unless we have any major fundamental news sorrounding the current geolpolitcal issues at hand and also inflation then we should see a further continuation to the downside back to 2280 as part of a liquidity sweep from May open prices. Although gold is on the uptrend on the montly, weekly and and daily charts, I also do think it has to at least come back to demand levels at 2146 and possibly test 2076 in lne with the channel uptrend as part of a HTF Long trend analysis but in the near term it's definaley a Short position for me on Gold. Let me know your thoughts on this. Happy Trading. :)
OANDA:XAUUSDShort
by FXCapitalClub
WTI: Head & Shoulders Could Trigger Drop to $67.48OANDA:WTICOUSD On the 120-minute timeframe, WTI Crude Oil has shown a notable bearish setup. After the formation of the bearish alt-Bat pattern at $71.14, the price dropped to $69.22, where a new fractal support was established. This level reinforces a previously used support zone, which is crucial for the next possible price pattern. With this support reinforcement, there is a potential for the formation of a head and shoulders pattern, with the neckline at $69.22. It’s important to note that the pattern will only be validated if the price breaks below this fractal support. If validated, the pattern could trigger a decline towards the 200% Fibonacci extension level at $67.48. Key Takeaways for WTI Crude Oil: Bearish alt-Bat pattern formed at $71.14. Price dropped to $69.22, establishing a new fractal support. A potential head and shoulders pattern is forming, with support at $69.22 acting as the neckline. Break below $69.22 would validate the head and shoulders pattern. If validated, the price could fall to $67.48, aligning with the 200% Fibonacci extension level.
OANDA:WTICOUSDShort
by Andre_Cardoso
Bearish drop?The Gold (XAU/USD) is rising towards the pivot which is a pullback resistance and could drop to the 1st support which acts as a pullback support. Pivot: 2,665.31 1st Support: 2,628.12 1st Resistance: 2,690.20 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:XAUUSDShort
by ICmarkets
Potential bullish rise?The Silver (XAG/USD) has reacted off the pivot and could bounce to the 1st resistance which is a pullback resistance. Pivot: 30.23 1st Support: 29.66 1st Resistance: 30.95 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
BOTTOM FOR GOLD? - FED RATES TOMORROW; ONLY A PROJECTION! As illustrated, I am trying to visualize what COULD be an inverted head & shoulders pattern, THAT HAS NOT BEEN FORMED YET! I REPEAT: IT HAS NOT BEEN FORMED YET The only reason I share this idea, is because tomorrow, WED 18th, the FED has to decide for the last time this year if to lower rates or keep them at 4.75% basis points. Should the FED decide to LOWER them, this could cause gold to spike and potentially being the bullish impulse I am trying to project here. Should the FED KEEP the rates where they are, the market MIGHT simply continue its "current normal" path which STILL HAS BEARISH STRUCTURE. THAT BEING SAID ... Be patient with this potential setup, and wait for the rates to come out + a few hours for the market to price in the decision of the FED, because there is still room for gold to drop to the psychological price range of 2610 - 2600. Gold is at a spot where it could manipulate one more time before a pop to the upside, in order to induce sellers and generate liquidity. Regardless the outcome of the FED rates, if price does indeed take off, make sure it closes above the pivot area illustrated and make sure such area HODLS as support In the near future for a potential buy opportunity towards a year-end bull expansion toward + 2730... -- GOOD LUCK!
FOREXCOM:XAUUSD
by PersaGold
Oil Market Analysis - 17/12/2024The oil market is currently under pressure, with WTI down to $69.30 and Brent at $72.66. The main causes are: Pemex Production Recovery: Oil platforms in the Gulf of Mexico have returned to full capacity after improved weather conditions and the end of the hurricane season. This has increased available supply, partially offsetting the decline in Russian production. Decline in Russian Crude: Russian maritime oil exports have fallen by 11% since October due to maintenance at a key terminal. This has temporarily limited flows but has not significantly supported prices due to increased production from other sources like Pemex. Strengthening US Dollar: The Dollar Index (DXY) is around 107.00, gaining strength thanks to preliminary US PMI data for December, which signals the fastest economic growth in 33 months, driven by the services sector. A strong dollar negatively impacts oil, making it more expensive for buyers using other currencies. API Expectations: Crude inventory data from the API, scheduled for 21:30 GMT, could add volatility. Last week, there was a build of 0.499 million barrels. EU Sanctions: The EU has imposed sanctions on a Dutch trader involved in trading Russian oil above the price cap. The impact on volumes remains limited for now. Oil Technical Analysis Price Range: Oil is trading within a range between $67.00 (support) and $71.50 (upper resistance), with this band likely extending into January 2025. Resistance: The key resistance is located at $71.03 (100-day SMA) and $71.46, where prices encountered selling pressure last week. A breakout above $71.03 could push prices toward $75.27, but caution is needed for quick profit-taking as the year-end approaches. Support: The first solid support is at $67.12, a level that held prices in May-June 2023. A break below could see crude testing the 2024 yearly low at $64.75 and then $64.38, the 2023 low.
TVC:USOILLong
by Forex48_TradingAcademy
1
Bullish & Bearish cases for CocoaThe GOAT thinks a confirmation above the drawn resistance line (a bit above the double-top) will send the cocoa to 15k (well at least I have an excuse not to buy any chocolate for my boys). A Rejection at that level will send us down, possibly an M top kind of move. RSI was in negative divergence territory but now shows a possible breakout... this makes things a bit biased toward the bull case I personally am too afraid to go long at this level. I have a sell stop order at around 11k... I rather wait and see how this plays out around that hypothetical resistance line.
CAPITALCOM:USCOCOA
by GoatOfWallStreet
2024-12-17 - priceactiontds - daily update - sp500Good Evening and I hope you are well. tl;dr sp500 e-mini futures - Neutral. Prices are messed up due to contract change but my lower targets were hit and market is in balance at now 6140ish. Huge support 6115 for the bulls and bears need a strong 1h bar close below it for lower prices. Bulls are in full control when market can only go sideways right under the ath. comment : Both sides made money today so I expect them to do the same tomorrow. If anything I see the chances of another bull breakout higher than a break below. We have clear support at 6115 and until this is strongly broken, look for longs near it. current market cycle: bull trend - late and will end soon key levels: 6115 - 6200 (contract change, so prices are much higher compared to Monday) bull case: Bulls are still buying the dips and making money. They prevent any stronger selling and that is why most will expect a break above the 1h 20ema tomorrow and the bear trend line. 6150 is their target for tomorrow. Depending on what Jpow delivers, we could melt up again but it’s a gamble I am not willing to take tomorrow. Many bulls also bought this because it’s close to the daily 20ema. We have closed once below it in the past 6 weeks. Invalidation is below 6100. bear case: Bears are trying but getting nowhere. They make money scalping but that’s about it. How likely is acceleration downwards? Very unlikely. Most bullish weeks of the year and markets are at peak euphoria. Invalidation is above 6200. short term: Neutral. FOMC tomorrow and if anything I expect bulls to trade back up to 6180 going into it. 6115 - 6140 is neutral. Bearish only below 6100. medium-long term - Update from 2024-12-15: Will write a new outlook for 2025 next week. current swing trade: Nope trade of the day: Selling since Globex or buying previous support 6115. Bears kept it below the 1h 20ema which had 3 great short opportunities today but bulls also had decent bounces off 6115.
CME_MINI:MES1!
by priceactiontds
2024-12-17 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr dax futures - Neutral. Third consecutive bear bar on the daily chart but the selling is weak. Bears barely push the market down and we are still 200 points above 20000. The bear channel held but chances are decent that it breaks tomorrow and we either go more sideways 20200 - 20400 or test 20500 again. comment: Bears made new lows, which is nice but the pullback is still minor on the daily chart. Anything below 20200 would surprise me and then we could see some acceleration down to 20000. Much more likely is a break of the bear trend line around 20300 and a retest of 20500+ current market cycle: bull trend but very late and will end soon key levels: 20000 - 20500 bull case: Bulls buying all the dips and it’s probably just a matter of time when the bears give up again. All bear bars below 20300 look weak and bears have tried 6 times now to break below the channel and have failed. Bullish targets for tomorrow are 20300, 20370 and then 20500. Invalidation is below 20200. bear case : Bears are trying but getting nowhere. Best they can hope for tomorrow is sideways between 20200 - 20300. How likely is it that Jpow grows some, tells the markets they are insane and no more rate cuts? Yeah. Invalidation is above 20600. short term: Neutral 20200 - 20300. Bullish above for 20400 or higher. Bearish below 20200 for 20000. medium-long term - Update from 2024-12-15: Will write a new outlook for 2025 next week. current swing trade: None trade of the day: Buying the open and then selling at the bear trend line. The move down accelerated at a weird time and price, so I cut my profitable shorts too early. FML.
EUREX:FDXSZ2024
by priceactiontds
12.18 Gold shock revision BUYGold rebounded slightly yesterday, with a small cross positive line on the daily line. 1. After bottoming out and rebounding in the morning, it started to rise from 2650 in the afternoon. 2662-3 is the 382 position of the rebound from Friday's decline, and 2664 is the continued decline, so it is the key resistance level. The two watersheds are very clear, one is the low point of 2643, and the other is the European session time point. Therefore, the 2650 line was chosen to bet on the rebound. 2. The 2662-4 line, the evening retracement, the formula emphasizes that the European session opened a decline in the morning, oscillated, especially the rebound from 6-8 o'clock, so in this process, the price did not break through from 8-10 o'clock, and it has been sideways, so the probability of a retracement in the US session is very high. 3. The 2650-1 line, yesterday's intraday rise and retracement to the 618 position, the standard 618 in the oscillation is better to make a mistake than to let it go. Although the 618 position was touched yesterday or sideways this morning, the strength of the pullback is not large, but it is still a sign of oscillation. Today, it is quite controversial. The daily small cross positive line, according to the previous rhythm, the daily positive line is a continuous positive line, so we still need to see a rebound. The cross K is also the transit point of the short-term decline, so the European session time is very important. The watershed 2643 is also very important, which is the key to see whether it will continue to fall. From the operation point of view, in the morning at 618, the 4-hour is still more, 2651-2 is more, if you don’t participate before 7-8 in the morning, you won’t participate in the second time. Today, we really need to observe the strength and weakness of the day. Look at the rhythm of the day’s operation and the layout of the US market. 1. Break 2643 during the day, the US market will pull back and empty, and the support level is 2630-32. 2. If it continues to rise during the day, the daily line is likely to go through a cycle of continuous positive rebound. Today, we will see a pullback of 618. If it is touched, you can short. You can’t double top short. Intraday short-term operation suggestions: BUY: 2640, defense 30, target 55-60
TVC:GOLDLong
by AIan_Gold
1
WTI Short - if we see the following play out.Looking at fair value gaps, and imbalance in the markets. This morning I identified the fair value gaps on WTI, as you can see on the chart it is playing out according to plan. If the price now continues to rise and starts to turn round when it hits the sell zone on the chart, then I will look for the following before I take the short. - Price Action - Deal flow where the buyers are running out of steam, and the sellers are starting to take over. If this happens then I plan a short on WTI. James Sandrock
CFI:WTIShort
by James_Gordon_Sandrock