Gold is trading inside a Channel Up that got it off the prior downtrend as it crossed above the MA50 (1d). The price hit the top of the Channel Up, so a pullback is expected, same as July 3rd and July 10th. Perhaps the most important development today is the first Golden Cross (4h) since March 15th. Trading Plan: 1. Buy near 1,966. Targets: 1. 2005 (top of...
WTI Crude Oil got heavily rejected on the 1D MA200 on Friday (the 1D RSI also on the oversold 70.000 level), the long term technical Resistance of the asset, and now the 1D timeframe is very close to turning neutral (RSI = 55.9310, MACD = 1.200, ADX = 35.829) for the first time since July 5th. Today the price has hit three key support levels, the HL trendline...
Gold crossed over the 1D MA50 today for the first time in almost 2 months (since May 17th). As the 1D timeframe turned bullish again (RSI = 58.454, MACD = -7.380, ADX = 44.489) this is the first major bullish signal of a projected new long term rally. However we will wait until the first 1D candle close over the 1D MA50 and make a confirmed buy entry. Our first...
WTI Crude Oil hit today the 4H MA200 after more than a week flipping the 1D chart neutral and the 4H bullish (RSI = 61.440, MACD = 0.100, ADX = 44.090). This is however approaching the RSI's R1 Zone, holding since April, while the LH trendline looms right ahead. Also this is where the 0.5 Fibonacci level is. Technically this is the most optimal sell entry for the...
WTI Crude Oil rebounded yesterday upon hitting the 4H MA50 and as the 4H technicals turned bullish (RSI = 55.674, MACD = 0.250, ADX = 26.371), this is a buy opportunity on the short term. We are targeting the 1D MA100 (TP = 73.50), where we will place the first medium term short (TP = 68.00). The maximum technical extension for this year has been the 1D MA200, so...
WTI Crude Oil got rejected today exactly on the 0.5 Fibonacci retracement level, which is the pivot level we have identified that determines the short term trade. The medium term pattern is a Megaphone and with both the 1D and 4H timeframes neutral (RSI = 52.099, MACD = -0.100, ADX = 28.689), we can easily realize that the price is exactly in the middle of the...
WTI Crude Oil has a sudden sell-of on the current 4H candle that touched the 69.00 price level and was quickly bought back. The 4H timeframe remained neutral despite this (RSI = 48.787, MACD = 0.110, ADX = 18.840), providing the ideal buy opportunity for the final leg upwards and test of the 1D MA100. As you can see, the 4H RSI is fairly similar to the the first...
Gold hit yesterday the HL trendline, which is the bottom of a Triangle pattern that has the R1 (1,985.50) as the Top, and is rebounding. This rebound was also made on the 1D MA100, the third time this happens in the past 10 days. The rise has already reached the 4H MA50 and turned both the 1D but more importantly the 4H timeframe (RSI = 49.565, MACD = -1.650, ADX...
Gold / XAUUSD hit the 1day MA100 and rebounded again over the 4hour MA50. That is the same bottom confirmation signal that the market gave on March 9th. The 4hour MACD is about to make the 3rd straight Buy Cross on a Rising Support again same as in March. Buy and target 1985.50 (Resistance A) short term, 2020 (Resistance B) medium term and 2080 long...
WTI Crude Oil formed a Megaphone pattern and is now near its bottom with the 4H time frame on oversold technicals (RSI = 27.320, MACD = -1.180, ADX = 31.676). This is a short term buy signal, targeting the top of the Megaphone, 1D MA100 and 0.618 Fibonacci Resistance Zone (TP = 75.00). A breaks under the Megaphone and S1 targets S2 (TP = 63.65). ## If you like...
Gold reached today a triple Support Zone, the 1D MA100, the bottom of the Channel Up and S1 (1,935.50). The 1D time frame is technically bearish (RSI = 40.784, MACD = -12.590, ADX = 46.379) but those where the exact same conditions that formed the November 3rd 2022 and February 27th 2023 bottoms. Both bottoms gave way to price rallies that made at least a +10.20%...
WTI Crude Oil hit the MA50 (1d) today after 3 weeks. Inside this multi month Channel Down, the strongest Resistance-Sell entry level has been the MA100 (1d). Max level it reached before getting rejected as the MA200 (1d) on April 12th. Trading Plan: 1. Sell on the MA100 (1d) at 75.80. 2. Sell on the MA200 (1d) at 79.00. Targets: 1. and 2. 70.00 (over Support...
Gold hit today the MA50 (1d) for the first time since March 13th. The last time it closed under it (Feb 13th), it declined more as low as the MA100 (1d). If it closes under it, a potential low and rebound level can be within Support (2) and (3): 1935.50 - 1950. Trading Plan: 1. Buy if a 1d candle closes over the MA50 (1d). 2. Sell if it closes under the MA50...
Gold is consolidating inside a Triangle pattern, with 4H technicals naturally neutral (RSI = 43.149, MACD = 1.520, ADX = 27.050) always within the larger pattern of the Channel Up. The very same Triangle in March broke upwards aggressively to form the new Higher High of the Channel Up. With the 4H RSI on a similar Double Bottom formation, we are buying again,...
The WTI Crude Oil is being rejected today on the 1day MA200, the longest Resistance MA technically. This rejection is also taking place on Resistance A (83.40), the December 1st top. The structural top inside the Channel Down has been the same on every occassion. When the now overbought 1day RSI crosses under the MA trendline, the sell will be...
WTI Crude Oil is about to hit the 1D MA200 on nearly overbought 1D technicals (RSI = 68.113, MACD = 1.880, ADX = 54.309) for the first time in 7.5 months (August 30th). This is a critical technical junction as 83.50 is also the top of the R1 Zone and the High of December 1st. With the RSI also approaching the HH trendline, we are going short on WTI and target...
XAUUSD is rising following the lower than expected U.S. CPI report with the 4H technicals largely bullish (RSI = 65.005, MACD = 6.660, ADX = 31.407). The pattern is a Channel Up and the current rebound is being made on the 4H MA50. The 4H RSI is approaching its LH trendline and very time a rise hit it, it completed a rebound in the range of +3.50% to +4.50%. The...
WTI Crude Oil reached the R1 Zone following OPEC, while getting very close to the top of the multimonth Channel Down. The technicals on the 4H time frame got overbought but have dropped below the barrier since (RSI = 68.376, MACD = 20.40, ADX = 40.224) indicating the first signs of sell bias. The Sell trigger perhaps can be given when the RSI crosses under the HL...