Oil defended himself against lower prices below 70 support zone in all year an that is a key factor for the bullish moment we can have in 2025.
Also OPEC+ lowered the roof to produce million oil barrels for entire 2025 due to lower growth expectations and lower demand. This will pressure the price upwards in most of the time next year as the bloc wants a strong...
Gold turned Bullish after some comments that China will enhance stimulus plan to increase economy, hence there will be probably more room for demand in the Gold purchases.
Key levels to consider:
• Neutral Indicators: For over 15 days, the ADX indicator line has shown a consistent decline, now positioned below the 20 level. This indicates that the average...
During last month the index reached 7% increase in price but now is waiting for the CPI data on Wednesday and FED decision in the following days. The price is now neutral around the 44k zone but the bullish tendency is strong as for now.
Main resistance is the 44k zone, upward movements can enhance the actual tendency.
Main Support is 43k and 41k zones....
In the last days we have been seeing the WTI barrel close to the 70 USD zone, but now is clear that the long term movement is very bearish as we can see in the chart.
- A cross below the support zone could mean that the bears are taking the market for the next days and will follow the tendency.
-Fibo is not showing any alerts that the long tendency is in danger,...
Right now the king is getting a lot of confidence since the elections. But the chart shows that the momentum is very agressive and the actual bullish tendency is very fast. Also RSI and MACD are showing some overbought zones in the actual price so there is no need to discard potential bearish corrections because of volatility.
Right now gold is crossing an important support level where there is not only a zone of fibonacci but also previous support and trendline. This could mean that the previous bullish tendency we had is now dying . Looks like the US dollar is putting gold in a difficult spot and the effects of the elections remains also this week.
