Today's focus: Oil
Pattern – Support Hold
Support – 71.80
Resistance – 78.80
Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil.
After a solid three-day decline, buyers have put up a fight from 71.80, but is this enough to hold the current uptrend? A break below yesterday's bar with a trend break could suggest that the current...
We have some Hidden Bearish Divergence on the monthly MACD as the GBP is failing to get above the highs for the 3rd time. This could eventually lead to a huge breakdown that could take it all the way down to the 1.618 Fibonacci Extension.
The NATURAL GAS trend is bearish for the last couple of months. The market placed a 1.9625 low on 22-Feb-2023. In a 4Hour time frame market reject the resistance area ( $2.54-2.61 ) as mentioned in the price chart and continued the bearish move. Now price is traded near the Support area ( $2.31-2.24 ). Volume indicates bears lose momentum. Price respect the...
Analysis: Gold was advancing to the upside since our last trade (27.04) and I am waiting for a price action for the price to hit my first target in the upcoming weeks. Once we can manage to clear the zone near the 1850$ level it will open the road to test the second target around the 1960$ level.Bad fundamental news from the worlds large economies or...
