Lets welcome the year which is fresh and new,Lets cherish each moment it beholds, Lets celebrate this blissful New year.
SALE NO MOBAARAK
HAPPY NEW YEAR
This is potentially a very good trade, for the time being, we can expect it to retest the top of the range. If you didn't buy with me and my clients yesterday at the close, you can buy here, risking a new low under the recent lowest low. Target is at least a retest of the previous rally's top, but it could evolve into resuming the longer term 'Time at mode'...
Opec to cut or not to cut?
* I trade Oil seldomly however this binary position caught my attention.*
1.This trade derives from my view regarding cartels - a view which follows the logic that they only work when the cartel makes an arrangement that is beneficial to all parties, wholly from a profit perspective.
2. Formal action of Reducing output is unlikely...
Multiple weakness seen here, with every rally being sold off.
The support at 46.5 should break any time right now, great opportunity to short here with 1% stop loss.
Tomorrow, members of OPEC will meet in Vienna, and it is unlikely there will be any policy shifts. Despite the dire straits some OPEC members are in, such as Venezuela, the current crude production policy will likely remain until Iran and Russia agree to some sort of production resolution.
MacroView has been overly bearish since June 2014 but indicating that the...
Brent crude has been able to rally on little volume during the U.S. banking holiday and rumors surrounding a potential unified OPEC production cut, issued by the UAE energy minister just as WTI was carving out a 12 year low (and in the middle of the night, local time, no less.)
Four days later, there has been no new reports of said production cut proposal, but...
a short rade starting to take shap with condition alying up : pa fail at the 50 percent retracement of the last leg down , rsi already starting to show divergences , we will just wait on the recent trend line to be broken to enter at martket !
dont hesitate to step by our group :https://www.facebook.com/groups/sp500warriortraders/
On technical basis, SPY (The S&P500 ETF) has broken down below 1st standard deviation from quarterly mean (66 days), while also breaking below 1 year mean (264 days).
The price has now entered a downtrend on quarterly basis, and will continue to fall if price stays below 1st standard deviation from quarterly mean (207.1) Closest target is the lower 1st st...
After a period of consolidation in the range of 56-62, WTI Oil made a big corrective move to the 76.2% Fib level (range 41.01-62.96) from where it seems to bounce off again to higher ground. Seen on the chart is an Elliot Wave that shows wave nr. 4 probably being ended anytime soon, and wave nr. 5 commencing her trip to higher price levels.
Technicals
First...
Prediction: With hype around the US/Iran deal wearing off, we are likely to see USD/CAD returning down towards weekly support levels. Recent highs and possibilities for further upside profits will attract buyers back to the market, therefore driving the price up to the levels of target 1 and main weekly resistance , and possibly rallying back towards recent highs...
There we go. A failure to rally above 62 led to an utter devastation, sliding below $50/brl within days scattering the hopes of bulls of a repeat of 2009 V-shape recovery.
54 was an important support level which unfortunately failed to even hold. It is now a significant resistance.
Entry: 52.6
S/L: 55.39
T/P: 37~39
With other industrial commodities like Steel...
An overlay of the chart of WTI and brent oil prices over time, I thought it'll be pretty interesting to share this.
How geopolitical and the American shale oil boom is shaping up the differences.
