Updated View On WTI Oil (18 Apr 2019)
Back Ground: Oil is in a strong trend and it is very likely to go UP higher. The medium-term tgt is $68.8 region.
If you want good entries, 62 and 58.4 will be nice.
Target(s): UP 64.4 (TP1), 68(TP2)
SHTF: It will use 56 as strong support region.
DYODD, all the best and read the disclaimer too.
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Yesterday’s data on US retail sales could be described as weak only. Sales dropped 0.2% in April (with growth forecast at 0.2%) therefore the dollar has suffered sales.
We recommended looking for points for selling the dollar yesterday because the afore-mentioned scenario was considered as fundamental one. Our position is unchanged – we short the dollar. First...
It's about time to soar?
Oil reconfirmed bottom in Wednesday and reveal long side is more possible than short, moreover, $63 is the key level oil need to breakout when uptrend is really in charge for following days.
By catching the opportunity of new rising, we should consider long oil at 62.20 and maintain the...
Well today i have some bad and good news. Which one would you want to hear first? I guess let's start with thee crappy news!
I somehow missed a 500+pip bearish move on oil. Like who does that? Anyway, it is not totally a bad thing. Because the good news is that it has created some nice structure in the market on which we can base future trades. My bias on oil...
since Gold crossed into negative sentiment at the end of February, RSI has yet to be oversold. Last time it has been oversold it was in the summer of 2018 between June and August.
Remember the Bull Run starded on Aug.16th, 2018? That was the last day Gold has been oversold.
Having said that, please note the 3S representing areas of supports for the...
XAUUSD is approaching our first resistance at 1302.263(horizontal swing high resistance, 100% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1266.727 (horizontal swing low support, , 61.8% Fibonacci extension ). Stochastic is also approaching resistance.
Natural Gas is contained within the neckline of the right shoulder of the 1W Head and Shoulders pattern that peaked last November (2018). The RSI on 1D is now approaching the 53.3800 level which has rejected any upside possibilities in the previous 3 times. We are expecting a similar development and target 2.400.
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Asset: XAUUSD ( GOLD )
Sell Stop Entry Price:1280
Take Profit: 1260
Stop Loss:1301(we will reduce the stop loss points once positions will be more favorable)
(we can adjust (limit, close or even reverse) the position before this price level is reached)