After breaking out above Weekly Horizontal Range Resistance (white line), Price has broken back into the preceding consolidation range.
Price has also closed below 61.8% Fib of the swing higher with momentum.
I EXPECT Price to bounce here, or at the bullish trendline.
THEN Price should find that Resistance at 0.906 (white line) should hold, offering a chance to...
Price has consolidated, forming an Ascending Triangle.
As Price is above the 200EMA, I anticipate a breakout to the upside and will seek confirmation of the breakout with a close above $42 (orange line).
Target #1: ~$45 (Closing the gap down from 6th March lows)
Target #2: $50 (Confluence zone of 61.8% from Jan highs + 127% fib extension from April lows)
Brent has made a new low and tested the 2001 lows at $16.65, forming a number of dojis
Should price rise, there is confluence with the 2016 lows at $27.13, as well as the 50% fib retracement of the recent move lower which I expect to provide some resistance and an opportunity to short this market, with a retest of the lows a very decent target (1k+ pips!)
Price has made a small bullish trend within the recent range (directly after a false breakout)
An inside bar has formed right at resistance (4H timeframe)
RSI not overbought
Both ADX and DMI+ above 25
The play is to take advantage of the likely breakout to the upside
*With tomorrow being the last day before the Easter break, it is possible we see very little...
Price has tested the range lows and following a poor inventories number made an attempt at the range highs
Momentum has stalled, as seen by the inside bars
The play is a confirmed breakout of the inside bars/the mother bar high
*With tomorrow being the last day before the Easter break, it is possible we see very little follow-through of bullsih price action.
Price bounced off the 61.8% Fibonacci retracement level and has been in a steady decline since then. Price has paused at Monthly support (purple dashed line) and formed an inside bar pattern. Whilst the trend is down overall, lower timeframes (hourly and lower) have changed trend.
Conservative targets would be a retest of the 38.2% fib level, with a retest of the...
After forming an inside bar pattern at range support (Daily timeframe), price is testing the highs of the narrow range candle from last Friday.
I expect a short term bullish move higher with some early resistance provided in the zone between the 38.2% and 50% Fibonacci retracement levels (Daily timeframe) and previous support structure at 118.462
Crude is of course in a massive downtrend, however since reaching the lowest previous support level (on tradvingView at least!) at $27.345 price has been rangebound.
Following the recent breakout to test $30, it has fallen back into the lower range, with another attempt to break out yesterday defended by the bears.
Price is close to testing range support levels...
Price appears to have started a new bullish rotation with some follow-through after the large outside bar on 1st Nov.
Price consolidated and broke to the downside on Friday, which was swiftly and powerfully rejected.
Expecting a continuation of the move higher, I am looking for a swing long (as seen on charts), with targets at:
Price has broken back into an area of former congestion (108.8 - 106.8) and has fallen to test the lower range after a double-top
Price action has now stalled and is showing some indecision, forming an inside bar.
Trading the break of the mother bar to the downside should see a restest of recent lows (see chart)
Price has been halted at resistance (previous swing highs)
Two bearish candles, including a doji suggest indecision and bearishness creeping in
Should price begin to fall, I expect a test of the 50% - 61.8% fib levels which has confluence with a significant support level (0.62690)
Should price test and hold, I will look to get into a long position.
Kiwi has double bottomed with no bullish follow-through.
Price is grinding away at long term daily support.
If support breaks with momentum, then there is a lot of air before the next support level, with a very strong weekly support level at 0.602 (the 161.8 Fib extension level)
Oil has fallen to pre-crisis (Houthi rebels/Iran attack) and filled in the original gap.
Price has closed just above the start of a large support zone (~400 pips)
The RSI2 is approaching oversold conditions
Whilst the dominant trend is certainly to the downside, this support zone has been defended by bulls in the past. This should give many opportunities to get...
There is decreasing volatility in this pair and a triangle is forming.
The Daily/Weekly timeframes are trending downwards and so I am leaning towards a bearish position.
I expect an attempt to breach 107, at which point I will be watching closely for a low risk short.
Price has broken below recent support around the 0.66500s
It has begun to retrace, giving a possible bearish continuation trade because:
- Former support should act as resistance
- 50% Fib level and 50EMA bringing confluence
- ADX above 20 and rising suggesting strength
Price has recently broken out of consolidation to the downside.
Price has now retraced to retest former support, which I anticipate acting as resistance. There is confluence with the 38.2 fib and the 20EMA.
~1:1 RR for conservative targets at $62 - $62.20s
Full extension of the move could see a retest of the lows from 12/06 around the $59.40s
I am looking for a long trade at current prices.
The 2-period RSI is overbought
Price recently broke out above, and is now retesting dynamic support on the 50EMA
A bullish inside bar has formed
Conservative targets at 108.4 - 108.5 range
NB: The daily and weekly candles suggest the longer term trend is bearish