ETH has held support at previous spike lows - now showing signs of a breakout by making a new higher high and a break out at trend line should push back to 300£ a coin! Good luck!
USDX smashing highs, short XAUUSD to 1200 - a major level
Tightening supply continues to push price higher, a permanent cap in production will push higher, note that: 1) We are in accumulating price range 2) Price has a possibility of breaking down at previous weekly highs 3) I'm trading a probable continuation of a trend, stay away from the noise
XAUUSD becoming a safe haven for investors as BREXIT nears, easy trades. Break out of downtrend and now this resistance level is a confirmation of bullish trend. Pre planned trade, 3:1.
Price has rallied to the daily 200EMA, with indication of some rejection here I begin to bias short. Also, we have a daily 0.618% fibonacci retrace-ment which also enters a prior weekly support become resistance area. As well as this, DXY is lacking some direction as such at the moment. Therefore some strong US data today with the medium impact news would certain...
Oil is trading nicely between 2 of my weekly levels: 1) Formed a nice descending channel giving multiple selling opportunities 2) No reason to long this security at the moment 3) Macro Economics including the frustration between Saudi Arabia and Iran is bearish news 4) Possible 29-26 bottom in the next 6-12 Months 5) Overall target is -0.5 or 1.5 Fibonacci...
Oil/Crude/WTI has seen tremendous downfall over the last 6 months. This is now the time to consider long term bullish positions as a reaction to OPEC decision not to cut production. This is the final institutional(OPEC) flush out of early buy and hold traders and also the competing nations such as the US. Time will tell and movement will be swift.
Oil falling into a nice wedge with RSI divergence signalling the end of a strong bearish run. Longs from areas of support from 2009 lows and holdings from 2000/2003/2004 this is a good area for a long term buy into resistance and technical level target for falling wedge.
Rectangle flag on USOIL, broken and hope to continue to TP at 44.41.
As the correlation shows between USOIL and USDCAD, dollar cad beginning to make a new run to break highs at 1.35, thus allowing the short term bulls of USOIL to drop off and fall down into the 43 area! Price rejections at EMA therefore expecting a swift fall from here!
USOIL possibly rising momentum divergence, is strength coming?
USOIL has found resistance at inner TL which has occur as USDATA was varied today. Causing drops in USDCAD. However USDCAD now posting NEW highs therefore Expecting oil to short to the structure level. Will hold to structure level then half position and hold for lower low. Thus will possibly half again and let remainder run as downside trend is continuing.