“Talent is a pursued interest. Anything that you're willing to practice, you can do.” - Bob Ross
There seem to be plenty of sellers out there. Immediate support at $30k Key support at $27.7k-$28.7K area.
DXY held the 89.60 support level. 4H change of structure. Immediate resistance at 90.90
Gold held the 1910 resistance level . Intraday (4H) showing some sign of deceleration. Bearish divergence on RSI also forming.
After breaking the trend line support from March 2020, price is now testing it for potential resistance.
Price is approaching a key resistance level at 156.50 area. Daily RSI is at an extreme level while weekly RSI showing a bearish divergence. We may see a possible reaction at this level.
Bitcoin forming a bearish symmetrical triangle. If this pattern plays out, we may see Bitcoin testing the next downside support at the $28k area.
Bitcoin would have to break above 47k to be completely out of the woods.
Cable is now approaching its weekly resistance at 1.4250 with 4h timeframe developing an ascending wedge (reversal) pattern with bearish divergence. We may see a possible reaction at this level.
Crude oil made a lower high and is now trading below trend line support and 50 daily ema. Immediate support at $60.60/barrel and key support will come at $57.40/barrel.
Price is currently testing the $1,870/oz area which is a key resistance (Channel resistance from Aug '20 & horizontal resistance). Yesterday's candlestick (Wednesday) printed a Doji or indecisive candlestick and a break above that level will lead price for further upside. Price is also trading above 200 Moving Average.
After breaking out of a key resistance level (1.3750,) cable is now open for a potential 𝟱𝟬𝟬 𝗽𝗶𝗽 move towards 1.4400 next key resistance level. Support will come at 1.3750 and a pullback around that area may encounter buyers.
After rejecting the weekly resistance at 30,000 big number, the weekly timeframe printed a bearish engulfing candlestick that suggest a possible reversal is coming. Daily looks like just a pullback but with an aggressive decline. 4H timeframe formed a double top with bearish momentum divergence. If price pulled back in a corrective manner we could possible see...
🎯 Chart Of The Day: EUR/JPY 👉Following the downside move from early this month, The EUR/JPY is currently establishing support at 122.50 for a possible uptrend continuation. Price also formed a descending wedge on the intraday timeframe which is a sign of bullish reversal. Resistance will come at 124.50, a break above that level would signal the pair for more upside move.
$USD/JPY broke the 106.50 level (previous resistance) that expose the 108 resistance level for a potential 100 pip move to the upside. A dip back at 106.50 may be a good support for buyers.
After almost 6 months of decline, we may see USD/CAD establish it's support level around the 1.3200 level. Looking at the weekly timeframe, the price is currently at the confluence of multiple support level. A break below this level would mean a very bearish sign of the currency pair and would expose the 1.3000 level or much lower. On the daily timeframe, there...
$WTI Crude oil may be heading down to $17-$18/barrel. If we take the measurement of the 2 previous declines from July 2008 - Jan 2009 and May 2011 - Feb 2016 both fell 77%. 77% decline from the recent high would lead us to around $17-$18/ barrel also considering that $26 key support is now broken it opens the window for further decline.