Today's focus: Nickel (XNIUSD) Pattern – Diagonal Pattern Support – 15,840 Resistance – 17,198, 18,500 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Nickel on the daily chart. We have been watching Nickel for a few weeks now, traders, as the consolidation pattern continues to drag out. The shape of the pattern at this point is...
Uranium ore trades is at records highs, as several hedge fund managers are expanding their allocations to uranium stocks, with a conviction that an increasing embrace of nuclear energy as part of a "green" future - along with geopolitically-rooted ambitions to reduce dependence on Russian oil and gas -- means the trend has a lot of room to run. On Wednesday,...
Hi Traders! SILVER has broken its trendline resistance on the 1D chart. Here are the details: The market has found support around the 21.874 level, which is a previous swing low. Today's candle has opened above the trendline resistance and is currently on the 20 EMA. We are looking for a close above the trendline resistance and a momentum push above the 20...
The American Petroleum Institute's latest report indicates a significant draw in U.S. oil inventories – a larger-than-expected decrease of 5.2 million barrels. But what does this mean for the market? This drop in inventories typically signals a tightening supply, which, in theory, should push oil prices up. However, the data also showed an increase in gasoline...
CME: Lean Hog ( CME:HE1! ) Throughout 2023, U.S. grocery shoppers find that beef prices rise rapidly. According to the National Daily Cattle and Beef report, published by the U.S. Department of Agriculture (USDA), Choice Beef averaged $290 per cwt (100 pounds) on December 8th. This represents a 16% increase year-over-year and is 21% above the 5-year average. In...
Gold is trading inside a Channel Up on the 4H timeframe since the Nov 12th low. Stable bullish technical outlook on 4H (RSI = 66.543, MACD = 8.550, ADX = 30.155), which calls for an extension of the current price action which is at the bottom of the Channel Up currently, to a new HH. We aim at a +1.96% rise (symmetrical with previous bullish legs), TP =...
Crudeoil should be bearish its facing resistance of 6400
API Actual: 9.047M API Consensus: 1.467M EIA Crude Import Actual 0.259M EIA Crude Import Previous: -0.385M EIA Crude stock Actual: 8.701M EIA Crude stock consensus: 1.160M As Saudi Oil production had shrunk to nine million barrels per day in July since its last OPEC meeting with Russia to restrict supply amid signs of weakening global demand...
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
Hi Traders! The bearish price action continues on the USOIL 1D chart, and there may be possible opportunities for short entries. Price Action 📊 The market has had lower highs and lower lows since breaking below the 3-month low and 20 EMA, creating a descending triangle pattern on the chart. We are looking for further bearish momentum to break and close the...
Gold turned bearish on the 1D timeframe (RSI = 43.890, MACD = -0.091, ADX = 34.371) after the November Channel Down almost hit the 4H MA200. It hit our 1,935.50 TP nonetheless (see previous signal at the bottom), and now the short term is giving us a buy signal in the event of a break over the Channel Down. The 4H RSI holds a HL trendline which is a Bullish...
Silver has failed to close a 1D candle over the 1D MA50 for four straight sessions and as it previously did on the 1D MA200, this is a bearish signal. Its confirmation is the 1D MACD that formed a Bearish Cross and each time the market has done so since April, inside this long term Channel Down, a new Low was made. Even the 1D technical outlook just turned...
Hi Traders! Silver continues to trade in the range zone as it cannot break above the 23.765 resistance area. Price Action 📊 The current price action looks bearish. Market highs and lows have started to become lower due to numerous price rejections around the 23.765 level. The market also recently broke and closed below the 20 EMA, and there are opportunities to...
Today's focus: Gold Pattern – Breakout/resistance test Support – 1817.90 - 1918 Resistance – 1944 - 1981 Hi, and thanks for checking out today's update. Today, we are looking at the Gold on the daily chart. So price has moved rather quickly today to the upside. Earlier, I was watching the consolidation and wondering if buyers might test it. Well, they not...
We are looking at Brent oil for a potential short trade only if the following occurs: 1.Wait for Daily bottom to confirm 2.Then for top to confirm before taking shorts till Weekly Confirmation Bar low is taken out at 83.46 **We will only be considering this short trade for a very small period as Weekly is in Uptrend** We will be tracking this move and updating...
Gold continues to flash bearish signals and besides the weekly (RSI = 34.620), it is about to turn technically bearish on the monthly timeframe as well (RSI = 48.938, MACD = 40.760, ADX = 33.051). On an even larger scale (3M), we have detected the latest sell indication, as the MACD formed a Bearish Cross. With the price inside a giant Megaphonoe pattern where...
Short 2.930 Target 1: 2.860 Target 2: <2.78 Stop: 2.978 Elliotwave: Starting Wave 3 of (3)
In this live trading session video,we look at our live running position on gold and the closed trade on EURUSD. Both these trades were take live on the RTCT webinar and still running. They are based on the Smart money framework,cycle methodolgy and volume principles. To understand our ideas and videos better,we highly recommend watching our following stream...