The BRENT.CMD pair has been trading in a medium-term ascending channel pattern since the end of December 2018. The pair re-tested the lower boundary of the channel pattern at 66.50 during last week’s trading session.
As for the near future, it is likely that the Brent crude oil prices will continue to appreciate and potentially hits the $70 mark before the end...
The Light crude oil prices have continued to appreciate in a medium-term channel against the US Dollar. The 50-hour simple moving average has pushed the pair towards the $60 mark.
The LIGHT.CMD pair is trading near a resistance level formed by the weekly pivot point at 60.18.
If the weekly PP hold, a possible pullback towards a support cluster at 59.21 could...
Massive amount of newsflow to come before drill summer campaign.
Cash in hand.
Lombard bought more,
JV / farm out partner to come,
appraisal well, production well & exploration well to come
60p to 75p target & make sure you slice along the way to protect profits.
Gold has reached a resistance level of around 1322, which is also 0.618 Fib level on the daily time frame. A bearish shooting star reversal pattern has been created on the 4hr chart suggesting a reversal in direction of price.
Although price action may seem to be in an uptrend, I believe it to be in a downtrend as a lower low was created at 1283 and the previous...
Gold prices extend gains on Monday, fueled by the risk aversion that has intensified at the start of a new trade week. The bullion is trading not far from the highs of this month, registered on Thursday around $1,320. In the short-term charts, the prices were pushed into overbought territory, which suggests some setbacks could occur in the near term.
Potential short set up on US Oil based off my simple 15minute day trading strategy.
- Price is rejecting daily pivot level for a 2nd time today.
- Price is rejecting the 200 EMA
- 50EMA is below the 200EMA.
- 15 minute lower high/double top at daily pivot level
- RSI showing overbought
Stop loss is placed above current highs.
Profit Target 1 is the daily S1...
During Friday’s trading session, the yellow metal was supported by the 55-hour simple moving average to end the day at 1,310.00. On Monday morning, the rate was retraced by the upper boundary of the medium pattern to allocate the rate at the 1,317.28 mark.
In regards to the near-term future, most likely, the rate will break the resistance of the medium pattern...
Got stopped out last Friday on this pair and it was quite frustrating as it showed so much potential.
However, a new week and a rejuvenated mind. I've spotted that the down move is still on, after seeing the daily TF.
Trade safe and good luck!
Gold may face bearish pressures. Political tensions in the Eurozone and Britain. That forced many to conclude that gold has lost its safe-haven appeal.
On the way down, 1302 is key ahead of 1298, 1290 while 1280 is a keen target.
Below there, 1275 remains the line in the sand to the downside, and a break below it will put the attention back to the towards to...
In my opinion, US Oil is now due another bearish leg after the current consolidation period.
Price has now rejected the weekly 50ema and Fib 0.5 retracement area. It has also rejected the support/resistance zone at $60. 1hr bullish trendline and 1hr 50ema is now broken which has been a dynamic support for price in the recent weeks.
I am first targeting previous...
Possible long position and then a big short position occurring on XAUUSD. Price has remained above both 200 and 50 EMA thus indicating a long bias at the moment. I have closed my previous positions on this pair which was mistake as a should have held and would have been in profit right now. Price will continue to follow trend and USD will weaken in the coming days...