Prices for WTI crude oil show steady growth, updating record highs. The main driver of the instrument growth is geopolitical tension in the Middle East.
In particular, the markets reacted sharply to reports of interception by Saudi Arabia of missiles over Riyadh. Also, investors closely follow the actions of Donald Trump, who threatened a new...
WTICOUSD 2 wave rise. The first wave of ascension starts now. The target's wavelength is 66 usd. From this level, I expect a correction to reach 63.3 usd. Then a second-wave structure of almost the same size. For this purpose, we can have a level of USD 68.3 usd.
WTICOUSD rising wave motion. Currently, a flat ATR axle takes place, so I expect a recurrence wave to 57.16 usd. From this level of adjustment, a more steep rise can begin. For which purpose it is around 63.39 usd level. The second wave rises with a higher slope and velocity.
Crude Oil Forecast And Technical Analysis Nov 22nd
Latest News And Fundamentals:
Oil prices climbed on Wednesday after a reported fall in U.S. crude inventories and on expectations that an OPEC-led production cut aimed at tightening the market will be extended beyond next March.
It is obvious that Crude Oil Market is being supported by an effort led by the...
*Wait for the bearish momentum to be sucked at the temporary support level at around 45.00 (61.8 Fib Retracement) and go Long.*
*This bearish breakout was Corrective Wave 2.*
* Impulsive Wave 3 is impending soon, however only go long once the bull candle closes above the support area.
*Aim for 50.00 level. (1.618 Fib Extension).
GBP/USD has broken this highlighted area of resistance and pulled back to the area, which is confluent with the 61.8. We are seeing prices stall at this level and GBP has been strong recently and beat on both Y/Y and Q/Q GDP figures today. I am now long from 1.2595 with a stop loss at 1.2538 and take profit at 1.2776 for a 3:1 risk/reward
Bearish pressure since the 20th should continue. Key resistance at 50$ price keeps on being tested but doesn't hold Target one at support should be hit at $49 mark. If price goes below 49$ I'd take further shorts. Price is retracing and touching both EMA's too