Daniel_Thompson

Daniel_Thompson

#WaveAnalysis #USDCAD broke resistance level 1.3470 Likely to rise to resistance level 1.3635 USDCAD currency pair recently broke the key resistance level 1.3470 (which stopped the previous impulse wave 3 at the start of August). The breakout of the resistance level 1.3470 coincided with the breakout of the 50% Fibonacci correction of the previous ABC...

Daniel_Thompson

Pivot: 7300.00 Our preference: short positions below 7300.00 with targets at 7226.00 & 7100.00 in extension. Alternative scenario: above 7300.00 look for further upside with 7320.00 & 7380.00 as targets. Comment: as long as 7300.00 is resistance, look for choppy price action with a bearish bias.

Daniel_Thompson

Pivot: 15870.00 Our preference: short positions below 15870.00 with targets at 15730.00 & 15640.00 in extension. Alternative scenario: above 15870.00 look for further upside with 15940.00 & 16030.00 as targets. Comment: as long as 15870.00 is resistance, look for choppy price action with a bearish bias.

Daniel_Thompson

#WaveAnalysis #WTI reversed from resistance level 82.50 Likely to fall to support level 78.80. WTI crude oil recently reversed down from the major long-term resistance level 82.50 (which has been reversing the price from the end of last year). The resistance level 82.50 was strengthened by the upper daily Bollinger Band and the 38.2% Fibonacci correction of...

Daniel_Thompson

Pivot: 4294.00 Our preference: long positions above 4294.00 with targets at 4349.00 & 4372.00 in extension. Alternative scenario: below 4294.00 look for further downside with 4275.00 & 4240.00 as targets. Comment: the RSI lacks downward momentum.

Daniel_Thompson

Pivot: 7315.00 Our preference: long positions above 7315.00 with targets at 7407.00 & 7450.00 in extension. Alternative scenario: below 7315.00 look for further downside with 7270.00 & 7214.00 as targets. Comment: the RSI lacks momentum.

Daniel_Thompson

Pivot: 15160.00 Our preference: long positions above 15160.00 with targets at 15360.00 & 15430.00 in extension. Alternative scenario: below 15160.00 look for further downside with 15110.00 & 15060.00 as targets. Comment: the RSI advocates for further advance.

Daniel_Thompson

Pivot: 15885.00 Our preference: long positions above 15885.00 with targets at 16050.00 & 16120.00 in extension. Alternative scenario: below 15885.00 look for further downside with 15830.00 & 15770.00 as targets. Comment: the RSI lacks momentum.

Daniel_Thompson

Pivot: 15430.00 Our preference: long positions above 15430.00 with targets at 15600.00 & 15680.00 in extension. Alternative scenario: below 15430.00 look for further downside with 15340.00 & 15260.00 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Daniel_Thompson

Pivot: 7195.00 Our preference: long positions above 7195.00 with targets at 7330.00 & 7375.00 in extension. Alternative scenario: below 7195.00 look for further downside with 7145.00 & 7080.00 as targets. Comment: a support base at 7195.00 has formed and has allowed for a temporary stabilization.

Daniel_Thompson

Pivot: 15860.00 Our preference: long positions above 15860.00 with targets at 16130.00 & 16225.00 in extension. Alternative scenario: below 15860.00 look for further downside with 15790.00 & 15710.00 as targets. Comment: a support base at 15860.00 has formed and has allowed for a temporary stabilisation.

Daniel_Thompson

Pivot: 15590.00 Our preference: short positions below 15590.00 with targets at 15255.00 & 15100.00 in extension. Alternative scenario: above 15590.00 look for further upside with 15720.00 & 15810.00 as targets. Comment: the RSI is below its neutrality area at 50%

Daniel_Thompson

Pivot: 4405.00 Our preference: short positions below 4405.00 with targets at 4270.00 & 4219.00 in extension. Alternative scenario: above 4405.00 look for further upside with 4430.00 & 4457.00 as targets. Comment: as long as the resistance at 4405.00 is not surpassed, the risk of the break below 4270.00 remains high.

Daniel_Thompson

Pivot: 7395.00 Our preference: short positions below 7395.00 with targets at 7215.00 & 7130.00 in extension. Alternative scenario: above 7395.00 look for further upside with 7440.00 & 7485.00 as targets. Comment: as long as the resistance at 7395.00 is not surpassed, the risk of the break below 7215.00 remains high.

Daniel_Thompson

Pivot: 16225.00 Our preference: short positions below 16225.00 with targets at 15860.00 & 15680.00 in extension. Alternative scenario: above 16225.00 look for further upside with 16350.00 & 16470.00 as targets. Comment: as long as the resistance at 16225.00 is not surpassed, the risk of the break below 15860.00 remains high.

Daniel_Thompson

Pivot: 15540.00 Our preference: long positions above 15540.00 with targets at 15740.00 & 15880.00 in extension. Alternative scenario: below 15540.00 look for further downside with 15480.00 & 15350.00 as targets. Comment: the RSI advocates for further advance.

Daniel_Thompson

Pivot: 7420.00 Our preference: long positions above 7420.00 with targets at 7507.00 & 7555.00 in extension. Alternative scenario: below 7420.00 look for further downside with 7354.00 & 7300.00 as targets. Comment: the RSI is above its neutrality area at 50%.

Daniel_Thompson

Our pivot point is at 95.24. Our preference: the downside prevails as long as 95.24 is resistance. Alternative scenario: the upside breakout of 95.24, would call for 95.64 and 95.88. Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish...