2023.6.16 Daily European Perspective USDX has plummeted ! Hello, I'm Older Duan. Today is Friday, June 16 2023. Now it's 16pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the U.S. Dollar Index broke...
2023.6.14 Daily European Perspective GOLD is about to test 1930 ? Hello, I'm Older Duan. Today is Wednesday, June 14 2023. Now it's 16pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the daily closing...
NRGD goes up when oil goes down; this ETF tracks the oil futures ; it is leveraged and managed. Here on the one-hour chart with an Bollinger Bands and EMA bands indicator added, it can be seen that price had been trending down in two waves beginning June 1st , Upon dropping outside the BB lower line, price reversed upward to reach the upper BB line and...
NYMEX:CL1! our algo software gave me a sell signal on april 26 and the red dotted lines are resistance. You se how june 5 resistance was pierced but not closed above, that means the down trend continues but barely. If it breaks and closes above resistance it may end the downtrend and a new uptrend will be begin.
TVC:USOIL Bull flag ready to break out on the weekly chart. Support at the horizontal lines.
TVC:USOIL Daily chart looks bullish with a bull flag off a double bottom.
Nice long tail on the weekly chart, after a lower low. Technical indicators MACD and VolDiv appear bearish but this is suspiciously like a hidden dragon. Taken altogether, the first resistance is 76, and once close above 80 is firmed bullish. The lower low suggests more downside, but the length of that tail is telling a very bullish story for the next couple of...
Based on Crude's weekly chart, it clearly lost the bullish plot (posted 1st May, see linked post). As of the current Crude futures price action, a few preliminary observations can be recorded... 1. A lower low is recorded, and this aligns with the weekly technical outlook of a more bearish close to the weeks ahead; 2. Yesterday closing at 68.52 broke down all...
If oil closes below 68.49 next level will be $64.41
As certain countries want to exchange oil for money with anything but USD such as Chinese Yen or even a cryptocurrency to be launched by US neutrals or adversaries cooperating, USO on this chart rose dramatically over the past month and is now sitting at resistance as shown by the LuxAlgo Supply and Demand Zone indicator. The RSI shows possible bearish...
CL_F (Crude Oil) favors higher in 5 wave Impulse Elliott Wave sequence as wave 1 before pullback starts. It placed (B) at $64.12 low on 3/20/2023. Above (B) low, it placed ((i)) at $71.67 high & ((ii)) at $66.82 low. ((ii)) was 0.618 Fibonacci retracement of ((i)). It favored ended ((iii)) at $81.81 high on 4/04/2023 high as extended ((iii)). Within ((iii)), it...
The daily chart shows greater details as to why a shallow retracement of sorts is expected. The Gap occurred after the Sell Setup completed. This becomes an overextension. The overextension is now a collection of 4 dojis of indecision. This tells that it is not a Gap and Run scenario, and leaves the Gap and close to be more likely. The technical indicators MACD...
Jsut reviewing Crude, especially in light of the recent major gap up last week after OPEC decided to cut output... Orientate to the weekly chart shows the TD Setup displayed and the Sell Setup (green box early 2022) and Buy Setup (red box mid 2022). These set the TDST, and the support is at 66.12, being the lowest point of the Sell Setup. Noted that the Buy Setup...
GAP is defined as the gap between 2 consecutive trading sessions (or 2 candles). GAP is determined based on the closing price of the previous candle and the opening price of the following candle. Under normal conditions, the closing price of the previous session will be the opening price of the immediately following session.
Previously, it was observed and expected that Crude was to bounce. Instead, Crude made a dive down and out of the boxed range. For a moment, took a second take on the analysis and decided that it might have been a bit before its time, since the longer term pointed to two trends; crude to go up and USD to go down. So, a chance came when USO triggered twice in the...
Oil has hit some near term support at the weekly 200 MA but don't be fooled by this level. Its no longer a major support level. If tomorrows weekly close closes outside of the white wedge pattern this chart looks extremely vulnerable to more downside.
Technical indicators are suggesting a short term target of $68 and a long term target of $38. I think $68 is highly probable. Short or buy puts to control movement down to $68, then take half off the table and let the rest ride down to $38.
Forest bathing can improve mental or physical health, as spending time in nature can reduce stress and pain and boost positive mood. The United States Oil Fund should take this to heart and set out for the lush composite consisting of the turquoise zone between $52.24 and $43.83 and the green zone between $46.36 and $40.29. Therefore, it should drop below the...