Will Crude Oil Break $85?Crude oil is seeing bullish momentum in price following the pullback we saw between
October & December 2021. Price pulled back to the weekly 50 simple moving average
where it found support and has seen a nice impulsive move up this month.
Since the low that was formed in April 2020, where the price of oil temporarily
reached $0, there has been an uptrend in play, forming higher highs and high lows.
Despite the pullback in December being the deepest during the recent trend, it still
managed to avoid breaching the previous low formed in August 2021. This is another
sign we are seeing a bullish trend in play.
We are now anticipating a breakout of the recent high at $85, and if this level is
broken, we could see price reach the $100 round number.
As for now, we need to let price dictate the next move.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Commodity
GOLD!! SCALP/SWINGTRADE!!! ACTIVEBearish Shark Pattern on 1 hour.
long on a bullish engulfing candle at the touch of the channel.
looking for 1.618 as target.
Entry: $1818.93
Stoploss: $1811
Target: $1833.50
NATURAL GAS!!! BULLISH SWING TRADE!!! ACTIVE!!Natural Gas has now done an 46% pullback. almost 50%
Great for reversal.
It has respected horizontal support.
It has printed bullish engulfing candle.
Bullish divergence .
Entry : $3.899
Stop loss: $3.10
Target 1: $4.6
Target 2: $5.4
Target 3: $7.8
Btw I use a modified shark or cypher pattern and trade it to the 1.618. Use your own caution.
XAUUSD SHORT TO 1736 (ENTRY 2)This here is a sell to buy trade. I am already in a sell from 1829 so this will be my second entry. I still expect one more wave down towards 1735-1710 in order to grab liquidity for the year. After that move is complete, Gold will be ready for its yearly Bull run. Possibly even possible to create a yearly high now that the long term correction is about to be finished.
If you look back on my profile and see my further analysis, this here is an ALTERNATIVE ANALYSIS. My main analysis is Gold shorts down towards 1570.
I will be catching this move on behalf of myself & my Account Management investors. All my socials are available on my TradingView profile.
GOLD SHORT FROM 1856 (ALTERNATIVE ANALYSIS)If you go back on my page and look at my previous analysis, you will see that I am already in a sell from 1829 and running in decent profits. However, Gold is currently giving mixed signals with its consolidation and slow market moves. If Gold pushes up from here, my alternative analysis would be to short it from 1856 down towards 1740 as my FIRST target.
All my socials are listed on my page. I will be catching this move on behalf of myself & my Account Management Investors.
XAUUSD SHORT TO 1739I am looking at a possible shorting opportunity all the way down to 1740. I am waiting for a retest off the bearish order-block (1817-1819) created during the melt off yesterday (03.01.2022). ONLY if this bias plays out, after price finds support around 1735-1710, I will be looking to open long positions long term all the way back up 1974, then towards an ATH.
I will be catching this move on behalf of myself & my Account Management Investors.
US OIL with room to moveDon't forget to click on the follow button for more daily detailed analysis,
Here we have our updated US OIL charts.
We are still looking short further down to targets after our first ones were hit. RE enter shorts on rise up.
Price TGT is noted by our eclipse symbols on chart.
Gold Go down first and then go up fastMonthly in Red, Weekly in Blue, short term(8 hours) in Pink and 45 mnts in Black
Very simple case. We are in a stage where the probability of going upward is high. But this idea is about 45 mnts
Eventually I see the gold at 1832 but shall we take every drop of water available, of course yes when possible.
Because it has run fast 1750 to 1814, it must retrace towards 50% and 61.8% of 45 mnts which is in Black and with a support from weekly fib level 23% around 1775 area.
Agree so far???
What next? once it reaches 1775 area, No evaluation is needed because it will then try to go to the confluence of weekly , monthly and daily fib level which is 1830.
Please let me know what you think. gold is considered as complicated, is it really?
GOLD - Wyckoff Price Cycle!Hello TradingView Family, this is Richard, and if you like this idea, kindly support with a like or a comment.
I found GOLD chart as a great practical example of Wyckoff's Theory.
GOLD is overall bullish trading inside the brown channel and it is currently sitting around the lower bound/brown trendline acting as non-horizontal support.
So we are looking for trend-following buy setups. Unless of course, the bears manage to break below 1750, which would invalidate the idea.
As per Wyckoff Price Cycle, we are currently in an accumulation phase. For the Markup to start, we need the bulls to prove control by breaking the blue channel upward.
As per my trading plan:
Since the blue channel is already valid, I will be waiting for a momentum candle close above the last major high in gray to buy.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Silver (XAGUSD) - Support, Resistance, Trendlines - 2021 - DaySilver (XAGUSD) - 2021 Support Resistance, Trendlines (Daily Chart):
-Resistance Price Levels (colored horizontal lines above current price)
-Support Price Levels (colored horizontal lines below current price)
-Trendline Resistances (diagonal yellow lines above current price)
-Trendline Supports (diagonal yellow lines below current price)
note: chart is on log scale.
USO (US Oil ETF) - Support, Resistance, Trendlines - 2021USO (United States Oil Fund ETF) - 2020 to 2021 - Support, Resistance, Trendlines:
-Resistance Price Levels (colored horizontal lines above current price)
-Support Price Levels (colored horizontal lines below current price)
-Trendline Resistances (diagonal yellow lines above current price)
-Trendline Supports (diagonal yellow lines below current price)
note: chart is on log scale.
UNG (Natural Gas ETF) - 2021 - Support, Resistance, TrendlinesUNG (United States Natural Gas Fund) - 2021 - Support, Resistance, Trendlines:
-Resistance Price Levels (colored horizontal lines above current price)
-Support Price Levels (colored horizontal lines below current price)
-Trendline Resistances (diagonal grey lines above current price)
-Trendline Supports (diagonal grey lines below current price)
note: chart is on log scale.
XAUUSD LONG TO $2300 (ALTERNATIVE SCENARIO)As many of you who follow me, know by now I am short on Gold down to 1570 long term as my main bias. I have even uploaded the analysis on my page which you can go back on see. However, this here is an alternative analysis and has a likely chance of coming into play. After last years strong bullish momentum, Gold has spent most of this year within a correction phase which now seems to be complete according to the Elliot Wave Theory.
Gold is now in it's final stages before making its next big move. I am expecting one more micro push down on Gold towards the 1745-1735 price, before we see Gold start pushing back up again. Don't forget, this is an ALTERNATIVE to my Gold short analysis. I am still holding both my long (1742) and short (1870) positions hedged against each other, in accordance to all the previous analysis I have uploaded on my page (feel free to go check them out).
I will be catching this move on behalf of myself & my Account Management investors within my private fund. Drop a like and follow if you would like to see more analysis uploaded.
Wheat is going to start Wave.5If this down-trend is Wave.4, I am waiting to reverse and take profit!
A continuous short trend for BRENT OIL!At the end of the last week and after the sudden emersion of omicron coronavirus, the price of oil faced a dramatic decrease! In the beginning of this week, after a slight consolidation upward, it has fallen even more dipper than the point which was closed previous week.
Right now in this position I guess that the upward correction is about to finish and in minimum case the fall to its last area is possible.
Bulls are getting ready in Silver?!?Yes, it seems like the bulls are getting ready to attack!
IF the silver price overcomes the 23.6 % Fib level and 50's MA with a sustained close around 23.30 USD, it would be time to fasten your seat belts.
IF XAG/USD doesn't overpower this critical resistance area and is making a move to the south, I would take another short trade into consideration. But this situation needs to be re-evaluated.
Zinc | Bullish sign for this Winter 2021MCX - Zinc offers 2 opportunity to ride the bullish trend. From the seasonality historical data, it has been always witnessed that by the end of November price starts accumulating demand the demands of the market.
As represented in the above chart, wait for the price to come near our area of interest and wait for other bullish conformations.