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XAUUSD - 15m Sell SetupXAUUSD - Daily Sell Setup 🔻 After a strong and extended rally, Gold (XAUUSD) has reached an overheated level and is now showing signs of short-term exhaustion. We’re eyeing a $30 correction, which translates to nearly 300 pips of opportunity for short sellers. 📉 Current Price: ~$3,307 🎯 Target: ~$3,277 With momentum slowing and candles printing hesitation, this could be a great time to catch a quick pullback. Ideal for short-term traders who thrive in volatility. 💡 Manage your risk, don’t chase — wait for confirmation before entry. 💸 Ready for 300 pips? Follow us and ride the wave with precision! 🚀
OANDA:XAUUSDShort
by Sober_Trading
1
XAUUSD - Possible top formation on gold ?XAUUSD probably topped as I expected around 3200 - 1 fib extension from low 1046 to high 2075 and higher low 1614 (started to short at the precedent low 3157) big daily bearish divergence on RSI as well maybe double bottom in 1 or 2 weeks then will go all down till september thats my forecast daily POC/and back to 0.618 fib extension is my target ~ 2500 (around -20% move) ____ any new ATH could bring gold to next fib extension at around 3850 Cheers
PEPPERSTONE:XAUUSDShort
by onemorewine
Gold Sell and Buy Trading PlanH4 - We had a strong bullish move with the price creating a series of higher highs, higher lows structure This strong bullish move ended with a bearish Divergence While measuring this strong bullish move using the Fibonacci retracement tool we have two key support zones that has formed (marked in green) So based on this I expect short term bearish moves now towards the Fibonacci support zones and then continuation higher. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 --------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by VladimirRibakov
2
SPY/QQQ Plan Your Trade For 4-15 : BLANK pattern day.As I stated in this video, last night I looked through the data and could not find any reference for this pattern going back more than 11 years. Same thing for tomorrow's pattern. That means these are very RARE pattern setups and we'll have to watch to see how price action plays out today. If there were no reference points over 11+ years of Daily price data (more than 2500 Daily Price Bars), then this is something very unique. I believe today will act like a Reversal Bar. Potentially rallying off a lower opening price and setting up a type of Gap Lower Rally type of pattern - but that is just a guess. At this point, trade smaller quantities until we see how price reacts this morning. Gold and Silver make a BIG MOVE overnight - breaking above the $3300/$33 levels I suggested were critical psychological levels. This is an INCREDIBLE rally in metals (thanks, China). At this point, if you were long metals like I was, you can thank me all you want. Be aware that metals will likely pause a bit above this psychological level, then start to move higher again. The next big target is $3600-$3750 for Gold. Bitcoin is doing exactly what I stated it would do - rolling into a top as demand for BTCUSD wanes. I believe the next low for BTCUSD will be closer to $60k-$63k. Pay attention. Going to be a good day for everyone holding Gold/Silver/Miners CALLS (like I kept suggesting). GOT SOME. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
AMEX:SPYLong
by BradMatheny
25
Long-term forecastGold technical analysis Daily chart resistance 3350, support 3200 Four-hour chart resistance 3320, support 3245 One-hour chart resistance 3320, support 3280. Gold rose more than 2% in a single day, and the price was outside the upper track of the Bollinger Band. There is a short-term overbought repair demand, but the overall upward trend remains unchanged. Look for buying opportunities near support. If the NY time period breaks through 3320 and reaches a new high again, the short-term target will be 3350; if it falls below 3280, it may probe the support near 3245. 3000/3100/3200/3300 The historical stage highs are broken again. 3300 will be a new starting point, and the next stage target is 3400 Therefore, today's strategy continues to follow the trend, buy after standing firm at 3320, and look at 3350. After falling below 3280, follow the sell, and the target is near the previous high of 3246.
OANDA:XAUUSDLong
by ActuaryJ
XAUUSD Technical Analysis Update 🔹 Timeframes Observed: H1, M30, and M15 Gold (XAUUSD) has officially broken the trendline on all three lower timeframes — 1 Hour, 30 Minutes, and 15 Minutes — indicating a clear shift in market structure towards the downside. 🔹 Key Support Level: The next critical confirmation of bearish continuation will occur if price breaks below the $3116 support zone. A clean break and retest of this level can serve as strong validation for further downside movement. 🔹 Target Zones: If the bearish momentum sustains, price may head towards the following levels: 🎯 Target 1: $3195 🎯 Target 2: $3172 🎯 Target 3: $3132 🔹 Stop Loss: To manage risk effectively, a recommended stop loss is placed at $3250. This helps protect against unexpected price spikes or false breakouts. 🔹 EMA Confluence: The 21 EMA on the M30 timeframe has been broken, adding another layer of confirmation to the bearish bias. This EMA break often signals a shift in short- to mid-term trend direction. ⚠️ Important Note on Fundamentals: While technicals currently show a bearish setup, it's essential to monitor fundamental drivers closely — including economic news releases, central bank statements, tariffs, and geopolitical events — as any significant development can invalidate technical patterns and shift market sentiment instantly.
OANDA:XAUUSDShort
by Pipsview_Analysis
XAUUSD Gold Analysis XAUUSD formed a symmetrical triangle pattern (converging trendlines), followed by a breakdown of the ascending trendline, suggesting bearish momentum. Price has broken below the ascending support trendline and is currently testing a minor consolidation zone, indicating potential for further downside. 🔻 Bearish Setup: Entry Point: Current price around $3,223.36, just below the broken ascending trendline. Ideal sell entry confirmation has occurred with the break of the ascending trendline support. 🎯 Downside Targets: Target 1: $3,194.752 This level aligns with previous structure support and is the first take-profit zone. Target 2: $3,176.149 A deeper support zone formed by previous price action. If price continues bearish momentum, it will likely react here. Target 3: $3,132.646 This is a major support zone and the final take-profit level based on the chart. Reaching here would confirm a full bearish move. 🛑 Stop Loss Placement: $3,247.014 Placed above the upper resistance trendline and recent swing high. If price breaks above this level, it invalidates the bearish pattern. 📈 Key Chart Details: Candlestick Behavior: Multiple rejections at the upper trendline suggest strong resistance. Volume: Volume spike at the breakdown level would further confirm bearish bias (not visible in the current image, but important to monitor). Risk-Reward: The setup shows a favorable risk-to-reward ratio, especially if holding till Target 3. ⚠️ Potential Considerations: Watch for fakeouts or retests of the broken trendline. A retest of $3,230-$3,235 could occur before further decline. Monitor economic news/events like U.S. inflation, Fed announcements, or geopolitical tensions as they heavily impact gold. ✅ Conclusion: This is a high-probability short setup for XAUUSD, with confirmation from: Symmetrical triangle breakdown, Lower highs, Clear downside targets, Well-defined stop-loss. If bearish momentum continues and fundamentals align, gold could slide toward $3,132, completing the full projected move.
OANDA:XAUUSDShort
by Pipsview_Analysis
1
Gold Skyrockets Like It's 2011: Are We There Yet?Gold has been on a powerful run since breaking above the 2100 resistance level in March 2024. After just one year of relentless gains and a return of over 60%, it has become one of the top-performing assets. But the big question now is: how far can this rally go? To the moon? It's difficult to predict how far prices can climb during these kinds of parabolic moves. In 2011, the final green monthly bar alone rose 17% from open to high. These FOMO-fueled surges often lead to euphoric tops followed by painful bear markets. So, are we there yet? Since Richard Nixon ended the dollar's gold backing and introduced the modern fiat system, gold's status as a safe haven has become even more prominent. Whenever there are heightened risks, whether geopolitical, fiscal, or related to the fiat money system, investors tend to flock to gold. The 2011 rally was a clear example of this. After the 2008 financial crisis and the quantitative easing that followed, gold became the go-to asset for both preserving value and speculative opportunity. A similar pattern has unfolded following the COVID-19 shock. The Federal Reserve returned to aggressive quantitative easing, while both the Trump and Biden administrations increased fiscal spending, including direct payments to households. This surge in money supply and concerns about fiat stability, along with rising government debt, helped trigger another major gold rally. With the added risk of a trade war, the rally has accelerated further, pushing gold beyond 3300 and creating a situation that closely mirrors 2011. Looking at the money supply-to-gold ratio and the US federal debt-to-gold ratio, gold now appears to be testing trendline levels. Its recent surge has made metrics like M2 and federal debt seem relatively smaller, which may be a sign that the rally is approaching exhaustion. Still, history shows that final euphoric moves can stretch even higher before a true top is formed. Rather than trying to predict the peak, it's often better to wait for signs of price stabilization. Gold typically offers a second opportunity, often forming two peaks with the second lower than the first, before entering a bear phase. In 1980, gold fell more than 60% within two years. After the 2011 top, it declined nearly 40%. Even if the retreat expected to be milder this time, gold could still offer a 20% or greater downside opportunity once the top is in. Smart money has already started to take profits gradually. Net managed money positions in the COT report have decreased by 40% since January, as we discussed in our earlier post:
FRED:M2SL
by ftdsystem
Gold follows the trend. Buy after a pullbackGold opened sharply higher in the Asian session and hit a new record high. It broke through the 3230 mark in the late trading and stabilized. The price continued to rise in the trend and broke through the adjustment range of yesterday. There was no technical trend during the day. The large-volume rise occurred in the Asian session, and the price continued to hit a new record high. As investors turned to safe-haven assets amid the uncertainty brought by the continued tariff plan of US President Trump, additional tariffs could exacerbate the ongoing trade war and slow global economic growth. As global stock markets bottomed, the pressure on gold finally eased, and the precious metal eventually rose sharply to a record high. This rise was very fierce because everyone rushed into the gold market, hoping to use it as a safe haven against the stagflation caused by the trade war. From a more macro perspective, gold is still in an upward trend because currency yields may continue to fall because the threshold for rate hikes remains very high. Potential risks include another sharp sell-off in the stock market or a hawkish stance from the Federal Reserve. In the short term, given that gold's long positions are too concentrated, if the trade war eases, gold prices are likely to experience a deeper correction, so it is necessary to pay close attention to developments in this regard. The current environment still supports the rise of gold, but the road to gold price rise will not be smooth, and there may be a temporary correction in the middle. Gold Asian session safe-haven directly broke through the new high, and the short-term adjustment of gold ended. Finally, the adjustment was completed in a volatile manner. This kind of strong bullish market with a breakthrough will basically not have a big decline. Since gold has chosen to break upward, it will follow the trend. Any decline in gold is an opportunity to buy. The 1-hour moving average of gold began to turn upward. If the 1-hour moving average of gold continues to diverge upward, then the gold bulls will continue to exert their strength. After gold breaks through 3245, then gold 3245 has formed support in the short term. Buy on dips when gold falls back to 3245. After gold surges in the Asian session, you must wait patiently for the opportunity to pull back. If it falls back to around 3245, you can continue to buy. Key points: First support: 3253, second support: 3240, third support: 3225 First resistance: 3280, second resistance: 3300, third resistance: 3315 Operation ideas: Buy: 3245-3248, SL: 3236, TP: 3280-3290; Sell: 3293-3295, SL: 3304, TP: 3250-3240; The recent investment risk is extremely high, and the real-time trend can change at any time. Please be cautious about trading signals.
OANDA:XAUUSDLong
by Jun-GoldAnalyst
USOIL Today's strategyWith the combination of oversupply, weak demand, technical factors, and geopolitical uncertainties, there is a high probability of a short-term decline in USOIL prices. Investors should closely monitor the dynamic changes. USOIL sell@61.5-62 tp:60.5-60 I hope this strategy will be helpful to you. When you find yourself in a difficult situation and at a loss in trading, don't face it alone. Please get in touch with me. I'm always ready to fight side by side with you, avoid risks, and embark on a new journey towards stable profits.
TVC:USOIL
by H_C_12
GOLD Massive Short! SELL! My dear subscribers, My technical analysis for GOLD is below: The price is coiling around a solid key level - 3304.2 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 3283.9 My Stop Loss - 3314.6 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
TRADENATION:XAUUSDShort
by AnabelSignals
3
"COCOA" Commodities CFD Market Bearish Heist (Swing/Day Trade)🌟Hi! Hola! Ola! Bonjour! Hallo! Marhaba!🌟 Dear Money Makers & Robbers, 🤑💰✈️ Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the "🏉COCOA🏉" Commodities CFD Market. Please adhere to the strategy I've outlined in the chart, which emphasizes short entry. Our aim is the high-risk Pink MA Zone. Risky level, oversold market, consolidation, trend reversal, trap at the level where traders and bullish robbers are stronger. 🏆💸"Take profit and treat yourself, traders. You deserve it!💪🏆🎉 Entry 📈 : "The vault is wide open! Swipe the Bearish loot at any price - the heist is on! however I advise to Place sell limit orders within a 15 or 30 minute timeframe most recent or swing, low or high level for Pullback entries. Stop Loss 🛑: 📌Thief SL placed at the nearest/swing High or Low level Using the 4H timeframe (8800) Day/Swing trade basis. 📌SL is based on your risk of the trade, lot size and how many multiple orders you have to take. Target 🎯: 6800 (or) Escape Before the Target 🏉"COCOA"🏉 Commodities CFD Market Heist Plan (Swing/Day Trade) is currently experiencing to move bearishness.., driven by several key factors.👇👇👇 📰🗞️Get & Read the Fundamental, Macro, COT Report, Seasonal Factors, Sentimental Outlook, Intermarket Analysis, Future trend targets.. go ahead to check 👉👉👉🔗🔗 ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 💖Supporting our robbery plan 💥Hit the Boost Button💥 will enable us to effortlessly make and steal money 💰💵. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🤑🐱‍👤🤗🤩
PEPPERSTONE:COCOAShort
by Thief_Trader
Gold surges to a new high, market analysis and operation layoutToday, the price of gold has been rising all the way in the Asian session, reaching a high of around 3317. From the perspective of the general trend, the overall trend of gold remains bullish. The high point we see now is only a temporary high point. It is very likely that the European and American sessions will break through again in the later period, so don't blindly guess the top. At present, the relative low point has risen by nearly 80 points, and there is a trend of further hitting new highs. Once it breaks the high again, it will continue to hit the 3330-50 line. Therefore, we still maintain the main decline in intraday trading. If the European session maintains a small sideways fluctuation, then the US session will most likely launch an upward attack again. What needs to be focused on at the moment is the extent of the bulls' callback repair. In view of the current volatile market, a drop of tens of dollars may only be a normal adjustment of the bulls, not a trend reversal. At present, the lower support can refer to the low point of 3280, which can also be used as an important reference for European market operations. The top short-term focus is on the first-line resistance of 3330-3350, and the bottom short-term focus is on the first-line support of 3275-3280. Bros, when you keep up with the pace of trading, you must control the risks reasonably. Intraday gold operation suggestions sell 3330-3340 TP 3320-3310 buy 3280-3290 TP 3310-3330 If you agree with this point of view, or you have a better idea, please leave a message in the comment area. I look forward to hearing different voices. OANDA:XAUUSD CAPITALCOM:GOLD FOREXCOM:XAUUSD FX:XAUUSD
OANDA:XAUUSDLong
by GoldHunter_Allen
3
WTI Oil H4 | Approaching a multi-swing-high resistanceWTI oil (USOIL) is rising towards a multi-swing-high resistance and could potentially reverse off this level to drop lower. Sell entry is at 62.71 which is a multi-swing-high resistance. Stop loss is at 65.90 which is a level that sits above the 61.8% Fibonacci retracement and a pullback resistance. Take profit is at 57.01 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (tradu.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (tradu.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Global LLC (tradu.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
TRADU:USOILShort
by Tradu
GOLD Is Bearish! Short! Take a look at our analysis for GOLD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 3,290.99. Taking into consideration the structure & trend analysis, I believe that the market will reach 3,179.46 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
TRADENATION:XAUUSDShort
by SignalProvider
1
GOLD soars over $50, heading for new ATHSpot OANDA:XAUUSD surged, with an intraday gain of more than $50, now trading around $3,281/oz to fresh all-time highs. OANDA:XAUUSD hit a record high as the Trump administration launched investigations that could widen the trade war, boosting demand for safe-haven assets, Bloomberg reported on Wednesday. U.S. President Donald Trump on Tuesday launched an investigation into the need to impose tariffs on critical minerals, the latest move in the widening trade war. According to a White House fact sheet, the executive order signed by Trump on Tuesday directs the secretary of commerce to initiate a Section 232 investigation under the Trade Expansion Act of 1962 to “assess the impact of imports of these materials on the security and resilience of the United States.” On Wednesday, gold traders will focus on U.S. retail sales data for March, as well as speeches from Federal Reserve officials, primarily Chairman Jerome Powell. Technical Outlook Analysis OANDA:XAUUSD After gaining support from the 3,200USD price level, which is an important support for readers to pay attention to in the weekly publication, gold has skyrocketed towards the weekly target level of 3,295USD. Currently, there is no resistance that can prevent the gold price from heading towards 3,295USD, and the uptrend is still absolutely dominant on the technical chart. In terms of momentum, the Relative Strength Index is just approaching the overbought zone and is not giving any signal of a possible correction in the short term. Therefore, in terms of momentum, gold can still continue to increase in price. During the day, the upward trend of gold prices will be noticed again at the following positions. Support: 3,245 – 3,223 – 3,200 USD Resistance: 3,295 – 3,300 USD SELL XAUUSD PRICE 3315 - 3313⚡️ ↠↠ Stop Loss 3319 →Take Profit 1 3307 ↨ →Take Profit 2 3301 BUY XAUUSD PRICE 3223 - 3225⚡️ ↠↠ Stop Loss 3219 →Take Profit 1 3231 ↨ →Take Profit 2 3237
OANDA:XAUUSDLong
by Xayah_trading
2
Gold Hits New ATH Amid Escalating US–China Tensions📌 Gold Hits New ATH Amid Escalating US–China Tensions: How Far Can It Go? 🧨📈 Gold has reached another all-time high (ATH) as geopolitical tensions between the United States and China intensify. Markets have become incredibly sensitive, reacting sharply to political rhetoric and economic policy shifts from the world’s most powerful leaders. As investors grow increasingly uneasy, gold continues to serve its role as a safe haven — but the real question now isn't whether gold will rise, but rather: how high can it go? 🌍 Geopolitical Sensitivity at its Peak A single tariff threat or retaliation can trigger gold to surge by $30–$50. Conversely, a pause in policy or a diplomatic “cool down” can cause price to drop hundreds of points. In this environment, political narratives are driving markets more than technical setups. This is one of those rare moments where fundamentals and news flow completely overshadow traditional chart signals. Even textbook candle confirmations are losing reliability — clean bullish closures are often followed by equally strong bearish rejections. 📊 Key Levels to Watch Support Zones: 3,280 / 3,268 / 3,258 / 3,240 / 3,230 Resistance Zones: 3,292 / 3,302 / 3,310/ 3330 ⚙️ Trading Zones 🔽 Sell Zone: Entry: 3,330 – 3,332 SL: 3,336 TP: 3,325 → 3,320 → 3,315 → 3,310 → 3,300 📈 Buy Zone #1: Entry: 3,270 – 3,268 SL: 3,264 TP: 3,274 → 3,278 → 3,282 → 3,286 → 3,290 → 3,300 📈 Buy Zone #2: Entry: 3,240 – 3,238 SL: 3,234 TP: 3,245 → 3,250 → 3,255 → 3,260 → 3,264 → 3,268 → 3,274 → 3,280 → OPEN ⚠️ Final Thoughts & Risk Advisory With geopolitical tensions rising and volatility surging, trading gold requires extra caution. Avoid chasing momentum blindly — even strong confirmations can flip without warning. This is a market driven by emotions, news headlines, and global uncertainty, not just technicals. Always stick to your trading plan, and more importantly: respect your SL/TP at all times. 💬 How are you approaching gold in this macro environment? Share your views below – are you holding long or fading the rallies? 👇👇👇
FOREXCOM:XAUUSDLong
by MMFlowTrading
1
OIL go UPWTI crude oil has recently shown signs of stabilizing after a period of volatility driven by geopolitical tensions and shifting demand expectations. While supply concerns and OPEC+ decisions continue to influence price movements, the broader macroeconomic indicators—such as signs of a soft landing in the U.S. economy and resilient global demand—are starting to create a more bullish environment. In my view, WTI is likely to start strengthening from current levels. The technical setup suggests a potential reversal, with support holding and momentum indicators turning upward. If prices break above key resistance zones, we could see a sustained move higher. Overall, I believe it's a good time to consider a long position on WTI.
TVC:USOILLong
by xMoranTomx
Oil slumps as demand outlook dims and supply risesMacro: - Oil prices stay weak as trade war fears weigh on global growth and energy demand. - The IEA cut its 2025 oil demand growth forecast to just 730k bpd, the slowest pace in five years, down from 1.03 mln. - Meanwhile, OPEC+ output is rising, with Saudi Arabia set to boost exports to China in May and Russia maintaining steady production, fueling oversupply concerns. Technical: - USOIL is in a clear downtrend fueled by lower highs and lows. The price is below both EMAs, indicating persistent downward momentum. - If USOIL closes above the resistance at 63.30, the price may retest the following resistance at 65.80. - On the contrary, remaining below 68.30 may pave the way to retest the support at 57.25 and 53.85, respectively. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
FX:USOILSPOT
by DatTong