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Oil Market doing extended -3 The market is doing an extended wave -3 - probably to fill the gap on charts to $40-$42 Always buy the small support ledge that forms between <38.2%-61.8%> pending every minor motive wave that extends on the 1hr chart (can be Elliot detailed on the 15 min) Accumulate to close all at $40 Currently compile 1/2 contract longs at:- 10k $36.10 10k $36.05 10k $36.00 10k $35.95 10k $35.90 10k $35.85 SL / Hedge at $ 34.50 (-$1.5 away on average). TP @ ($4 on average) Take Care & Stay Safe.
TVC:USOILLong
by Summerset
Broad Ascending Triangle Wave 4BBuy a coming retraction into wave-c of this ascending triangular formation. place limit buy orders to accumulate 1.2 standard contract per $ 10000 account Buy 10k @ $ 31.30 Buy 10k @ $ 31.40 Buy 10k @ $ 31.50 Buy 10k @ $ 31.60 Buy 10k @ $ 31.70 Buy 10k @ $ 31.80 Buy 10k @ $ 31.90 Buy 10k @ $ 32 Buy 10k @ $ 32.10 Buy 10k @ $ 32.20 Buy 10k @ $ 32.30 Buy 10k @ $ 32.40 TP @ $ 34 (Wave-d) SL / sell stop hedges @ $30.40.Position average $ 31.85 - Risk -$1.45/ Standard contract. Reward $ 2.15/ Standard contract Take Care & Stay Safe
TVC:USOILLong
by Summerset
Short Accumulation in Oil Futures - Wave 4BAccumulate shorts into the Right shoulder of the formation Size = 1 standard contract per $ 10000 Account - distributed as follows limit short 10k @ $32.50 limit short 10k @ $32.60 limit short 10k @ $32.70 limit short 10k @ $32.80 limit short 10k @ $32.90 limit short 10k @ $33.00 limit short 10k @ $33.10 limit short 10k @ $33.20 limit short 10k @ $33.30 limit short 10k @ $33.40 Take profits 500 pts from each entry. Take profit zone < $27.50 to $28.40 > SL / Hedge equivalent amount of buy stops 150 points from position average @ $ 34.50 Projected Position average around $32.95 Take Care & Stay Safe.
TVC:USOILShort
by Summerset
2
SPX500 Reacts Off of Resistance Level on DailyFurther to our previous article , the SPX500 has reacted from overhead resistance. The index is now challenging its black 20-day SMA support. If it crosses below and the SMA turns down this will be bearish development. We are also watching the daily RSI to see if it slips to the bearish side of 50. The right chart shows the hourly time frame. Here, the EMAs are in bearish mode and the RSI is below 50 (green ellipses). If the EMAs show further angle and separation, the index will be heading lower.
FX:SPX500Short
by FXCM
1
UKOIL: Downtrend Bid + Retracement LongFirst off, please don't take anything I say seriously, as always this is on opinion basis. That being said, let me get into a few key points I want to make. Oil is about to go back down on the demand curve and have increased resistance, especially in indexes and/or options trading. This is mostly due to price corrections and a result of the sentiment going on from people reacting to the Covid19 pandemic. The demand curve going down = oil going down = price corrections as a result of impacted news. It is that simple, and this is why I predict a small imminent bearish period for UKOIL, but a huge upswing investment opportunity.
TVC:UKOILShort
by gamer456148
SPX500 Struggles To Overcome ResistanceThe left charts shows the daily time frame of the SPX500. We note that it is above its 20-day SMA and that the RSI is above 50. These are bullish, however, the index has struggled to overcome the 2,900 level (red shaded horizontal). The right chart shows the hourly time frame. Here, the EMAs are rolling over and looking to cross down and the RSI is threatening to move to the weaker side of 50. The market is nervous ahead of the Fed statement at 6:00 pm GMT and the press conference after. If the EMAs cross and develop angle and separation the index will be retreating from the overhead resistance.
FX:SPX500Short
by FXCM
3
Natural Gas | More DownsidePlease support this idea with LIKE if you find it useful. Overall we are moving in a Descending Channel and the previous rejection can lead us to the lower boundary being retested. On closer look we see the price is under Ichi Cloud resistance zone and 50 MA dynamic resistance. Also price producing bearish engulfings, which confirms the decline. Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advice.
OANDA:NATGASUSDShort
by Anpu
6
COPPER OUTLOOK - XCUUSDCopper has been trading in a bearish channel since 2011 right after bouncing off from the ascending resistance of the ultimate bullish channel. The first corrective wave in the blue bearish channel ended last year and price failed to break out to the upside. A critical price level has been broken and this will potentially expose the copper price to a further downside. I had forecast this short setup last year and I have now updated my chart. My first and second price target at $2.32/lb and $1.98/lb respectively were successfully achieved last week. If price breaks my 161.8% fib level, I expect price to reach my third target at $1.29/lb.
OANDA:XCUUSDShort
by Timgucci