Potential bearish drop?The Gold (XAU/USD) has reacted off the pivot and could drop to the 1st support which has been identified as a pullback support.
Pivot: 2,626.87
1st Support: 2,585.55
1st Resistance: 2,664.92
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Commoditysignals
Bearish drop?USO/USD is reacting off the resistance level which is a pullback resistance that aligns with the 127.2% Fibonacci extension and could drop from this level to our take profit.
Entry: 70.64
Why we like it:
There is a pullback resistance level that lines up with the 127.2% Fibonacci extension.
Stop loss: 71.66
Why we like it:
There is a pullback resistance which lines up with the 127.2% Fibonacci extension.
Take profit: 69.35
Why we like it:
There is a pullback support level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Potential bearish drop?XAU/USD has reacted off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 2,627.88
Why we like it:
There is a pullback resistance level.
Stop loss: 2,655.19
Why we like it:
There is a pullback resistance level.
Take profit: 2,585.75
Why we like it:
There is a pullback sup [port level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Could the Silver drop from hereThe price is reacting off the pivot which has been identified as a pullback resistance and could drop to the 1st support level which acts as a pullback support.
Pivot: 29.83
1st Support: 28.81
1st Resistance: 30.73
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
XAUUSD Accumulation almost over. Strong rally expected to $3000.XAUUSD (Gold) is having the market worried lately as it hasn't made a new High since October 30. Instead it has been consolidating since the November 14 Low and even broke below the 1D MA100 (green trend-line) last week.
This is far from alarming though, as the long-term pattern remains a Channel Up since the October 06 2023 bottom and in fact the current level presents a strong long-term buy opportunity as a Higher Low formation of the pattern.
As you can see, each of the 3 Bullish Legs of the Channel Up have rallied by around +20% but first they consolidated after first breaking below the 1D MA50 (blue trend-line) for 1 month. Even the RSI sequences between their fractals are identical.
As a result, we believe that Gold may start the new Bullish Leg (4th) as early as late this week or next one and rally by at least +18.65% (rise of Bullish Leg 1), targeting $3000.
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Could the price reverse from here?The Gold (XAU/USD) is rising towards the pivot and could reverse to the pullback support.
Pivot: 2,673.21
1st Support: 2,556.21
1st Resistance: 2,719.79
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Heading into overlap resistance?The Silver (XAG/USD) is rising towards the pivot and could reverse to the 1st support which acts as a pullback support.
Pivot: 30.21
1st Support: 28.02
1st Resistance: 32.08
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the Gold reverse from here?The price is reacting off the resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 2,627.88
Why we like it:
There is a pullback resistance level.
Stop loss: 2,655.19
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Take profit: 2,585.75
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
GASOLINE sits 4 straight months on the Support. Expect reboundGasoline (RB1!) has been trading on the 4-year Support Zone for 4 straight months, forming a confirmed technical bottom. The September 09 Low was also on the Lower Lows of the long-term Falling Wedge, which makes the probabilities of a rebound even stronger.
At the same time, the 1W RSI bounced from oversold territory (below 30.00) and has stabilized back above its MA trend-line, confirming a bullish reversal. In addition, the 1W MACD just formed a Bullish Cross, with the previous 2 such formations since January 2023 aligning with the Wedge's Bullish Legs.
The previous Lower Lows bottom reached marginally above the 0.786 Fibonacci retracement level. As a result we remain committed to our long-term Target of 2.600 (below also the Lower Highs trend-line), which we expect to get hit within the next 4 months.
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Bearish drop off pullbacksupport?WTI oil (XTI/USD) has reacted off the pivot and could srop to the 1st support which acts as a pullback support.
Pivot: 69.65
1st Support: 68.56
1st Resistance: 70.71
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
WTI OIL entered a new bullish pattern on a 4H Golden Cross.WTI Oil (USOIL) just formed a Golden Cross on the 4H time-frame while at the same time it rebounded on the former Lower Highs trend-line. This technical shift from a Resistance level turning Support, signifies the emergence of a new Channel Up pattern.
The pattern's first Higher High was priced on the 71.45 Resistance (1) and if the current Higher Low holds at the bottom of the Channel Up, we expect an equally powerful Bullish Leg for the next Higher High.
As a result we expect it to hit at least Resistance 2 and our Target is $72.80.
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Bearish drop off 61.8% Fibonacci resistance?WTI oil (XTI/USD) is rising towards the pivot which is an overlap resistance and could reverse to the 1st support level which is also an overlap support.
Pivot: 70.60
1st Support: 69.25
1st Resistance: 71.44
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?The Gold (XAU/USD) is rising towards the pivot which is a pullback resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 2,665.31
1st Support: 2,628.12
1st Resistance: 2,690.20
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
XAUUSD still at the bottom of the 1 year Channel Up. Strong Buy.Gold (XAUUSD) has been trading within a 1-year Channel Up since the October 02 2023 weekly bottom. When it makes a technical Higher High and then pulls back, the pattern's Bearish Legs tend to be quite prolonged but at the same time always supported by the 1D MA100 (red trend-line).
The current Bearish Leg bottomed on the 1D MA100 on the week of November 11 2024 and made a technical Higher Low. Based on the previous two Higher Lows, the price may continue to consolidate until the end of the year before it breaks out again upwards but with the current level being so close to the 1D MA100, it makes it already a technical buy opportunity.
All previous Bullish Legs hit at least the 2.5 Fibonacci extension from the Higher High - Higher Low and the strongest rise has been +22.50%.
As a result, we can target $3100 as the Channel's next Higher High, which would be a +22.50% rise from the November bottom but still below the 2.5 Fibonacci extension.
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Heading into overlap resistance?WTI oil (XTI/USD) is rising towards the pivot which acts as an overlap resistance and could reverse to the pullback support.
Pivot: 73.08
1st Support: 66.98
1st Resistance: 78.05
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the price bounce from here?The Gold (XAU/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the overlap resistance.
Pivot: 2,657.81
1st Support: 2,627.26
1st Resistance: 2,713.51
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the price bounce from here?XAU/USD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 2,665.32
Why we like it:
There is a pullback support level that is slightly above the 61.89% Fibonacci retracement.
Stop loss: 2,620.34
Why we like it:
There is a pullback support level.
Take profit: 2,716.62
Why we like it:|
There is an overlap resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Falling towards 61.8% Fibonacci support?XAG/USD is falling towards the support level which is an overlap support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 30.68
Why we like it:
There is an overlap support level which aligns with the 61.8% Fibonacci retracement.
Stop loss: 29.82
Why we like it:
There is a pullback support level.
Take profit: 32.02
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Overlap resistance ahead?XAU/USD is rising towards the resistance level which is an overlap resistance and could reverse from this level to our take profit.
Entry: 2,714.61
Why we like it:
There is a pullback support level.
Stop loss: 2,758.14
Why we like it:
there is a pullback resistance level that aligns with the 127.2% Fibonacci extension.
Take profit: 2,667.31
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
XAUUSD consolidating awaiting the bullish break-out.Gold (XAUUSD) has been trading within a Channel Up pattern, with its most recent Higher Low being priced on the 1D MA100 (green trend-line). Since November 25, it has been stuck in range within the 1D MA100 and the 1D MA50 (blue trend-line).
As pre the RSI, this is a consolidation before the bullish break-out that will confirm the new Bullish Leg. A similar RSI consolidation around its MA trend-line was last seen during Gold's last Higher Low formation (June 07 - 27).
The break-outs Target was Resistance 1, so that is our Target again (2790). If however for any reason the price closes a 1D candle below the 1D MA100, we will be quick to take the small loss and on the counter go short, targeting the 1D MA200 (orange trend-line) at 2500.
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Bullish rise?The Silver (XAG/USD) has reacted off the pivot and could potentially rise to the 1st resistance which acts as a pullback resistance.
Pivot: 30.06
1st Support: 27.99
1st Resistance: 32.49
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards pullback support?USO/USD is falling towards the support level which is a pullback support that aligns with the 127.2% Fibonacci extension and could bounce from this level to our take profit.
Entry: 66.96
Why we like it:
There is a pullback support level that aligns with the 127.2% Fibonacci extension.
Stop loss: 65.52
Why we like it:
There is a pullback support level that lines up with the 127.2% Fibonacci extension.
Take profit: 68.66
Why we like it:
There is a pullback resistance level that lines up with the 50% Fibonacci retracement.
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PALLADIUM has started a massive 3-year rally. Don't miss it.We first published this Palladium (XPDUSD) chart exactly 4 months ago (August 06, see chart below) and it is the appropriate time to update it now:
As you can see, we gave the buy signal exactly on the market bottom which was in fact a Triple Bottom. The rebound broke above the 1W MA50 (blue trend-line), a Resistance that was unbroken since the week of October 10 2022, and technically confirmed the uptrend and the trend reversal from bearish to bullish. The pattern that is carrying this uptrend is a Channel Up and in November in fact, it respected both the Higher Highs and Higher Lows trend-lines.
As mentioned on that August analysis, Palladium formed the very same Channel Up after both previous major market bottoms (Bear Cycles) since the December 2008 bottom of the U.S. Housing Crisis. All Channel Up patterns (the current is the 3rd one), started after the 1W RSI formed Higher Lows against the price's Lower Lows, which is a Bullish Divergence. They broke out once the 1W RSI made the first pull-back on the Arc shapes you see on the chart, indicating a normalization on the initial buying pressure at the bottom.
Obviously, this is a recurring technical cyclical pattern, formed on a 6-year Cycle. With the use of the Sine Waves we can accurately display the previous bottoms (January 11 2026 and December 01 2008) and to a fair extent the tops (we can argue that those are formed on the 3rd Lower High (red circles) on the 1W RSI Lower Highs trend-line).
Needless to say, we still expect Palladium to reach at least the 'Russia-Ukraine war peak' at 3450 by mid 2026 - mid 2027. If you want to go beyond that, technically, it can extend as high as $4780, which would represent a +451.52% rise from the recent 2024 bottom. The previous two Bull Cycles rose by +533.56% and 451.52% respectively, which also represents they high degree of symmetry within Cycles.
In any event, the current levels remain a unique buy opportunity on a 3 year horizon if you are a long-term investor.
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