If oil prices remain high will lead to a massive inflation right when people start going back to work after covid 19 pandemic. High prices would trigger US shale to reopen wells and to start slowly to increase production again. During the time of alleged cuts, many producers have been filling up storages for "domestic use" and as soon as the Cartel's agreement...
Possible HS pattern in play that could lead the pair to fall to 0.746 area.
Currently trading in a possible reversal area. Target was achieved and it looks like the rally could start changing sides. Cheers
Current daily candle shows bear forces still in control. Price could continue falling 89.2 and even to 88.2. Trading below reference EMA's suggests that bears are still in control. Will start buying USD once we retest at least 89.2 Long term is a clear buy, short term still a sell area. Cheers
Rally to resume after a possible small correction.
After an enormous rally from 1678 till current prices, we have had nearly 250 USD increase in price but where would be the ceiling for this rally before a correction? Based on previous data I would say that 1950ish is the area to clear in order to keep climbing for a double top or to hit new all time high. From the fundamental point of view, honestly I do not...
Potential HS pattern still im play. Currently developping possible right shoulder. With Elon Musk comments and China banning mining cryptos, is this the end of the Bitcoin? Who's gonna be the next one to say something else against BTC? Which countries are going to join China? Never traded BTC for its high volatility and risk but always liked the technology...
I still keep my bearish view on this pair for the time being.
If the HS patterns plays its part it will start falling.
As always I am only SELLING above 66 and buying below 54. Price is being supported by massive money but rigs in the USA have been growing as current prices makes them more profitable and the weakness of USD has helped as well. Summer season approaching and current prices are way to high IMHO that could overkill the Cartel's strategy. Iran sitting back on the...
Where is gold heading to? 1901 or 1958 before a reversal? Currently we are trading above reference EMA's and consolidated few candles off the previous descending channel, therefore it all points to a continuation with some pullbacks in between. The thing is: where would be located the possible reversal point? Here few possible scenarios. I am not considering...
possible Head and Shoulder pattern in play that could lead prices to previous important support at 17-18K levels. Currently trading below reference EMA's and entered into bearish territory after losing nearly 40% of its value in the previous sessions.
the uptrend will continue after a small correction should the CP pattern plays its role.
We are trading below reference EMA's and getting close to previous lows. Let's hit the bottom and open LONGS there for a nice correction.
Daily candle suggests incoming bear move. If we close at opening or below levels. Shooting star candlestick pattern
next target achieved. Some pullback and further uptrend till 156.608 level.
potential double top formation and correction in spite of Middle East tensions