Heading into overlap resistance?WTI Oil (XTI/USD) is rising towards the pivot and could reverse to the 1st support.
Pivot: 70.39
1st Support: 68.71
1st Resistance: 71.77
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?The Gold (XAU/USD has rejected off the pivot and could drop to the 1st support level.
Pivot: 3,032.57
1st Support: 2,998.40
1st Resistance: 3,047.35
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.
XAGUSD Channel Up aiming for the new Higher High.Silver (XAGUSD) has been trading within a Channel Up for exactly year (since the March 27 2024 Low). Its current Bullish Leg started on the December 31 2024 (Higher) Low after almost touching the 1W MA50 (red trend-line).
Once the price broke above the 1D MA50 (blue trend-line) on January 28 2025, it remained above it ever since, which is what happened on both previous Bullish Legs. We expect a +30% rise and a test of the 1.382 Fibonacci extension as the previous Higher Highs. Our Target is just below that at 37.000.
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Potential bearish drop?USO/USD is reacting off the resitance level whic is an overlap resistance level that line sup with the 161.8% Fibonacci extension and the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 70.39
Why we like it:
There is an overlap resistance level that lines up with the 161.8% Fibonacci extension and the 61.8% Fibonacci retracement.
Stop loss: 71.87
Why we like it:
There is a pullback resistance level that is slightly below the 88% Fibonacci retracement.
Take profit: 68.68
Why we like it:
There is an overlap support level that lines up with the 38.2% Fibonacci retracement.
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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.
Bullish bounce?WTI Oil (XTI/USD) is falling towards the pivot and could bounce to the overlap resistance level.
Pivot: 68.47
1st Support: 67.43
1st Resistance: 70.38
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?WTI Oil (XTI/USD) is falling towards the pivot and could bounce to the 1st resistance which is an overlap resistance.
Pivot: 68.47
1st Support: 66.88
1st Resistance: 70.38
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.
Bullish momentum to extend?The Gold (XAU/USD) has reacted off the pivot which acts as a pullback support and could rise to the 1st resistance which has been identified as a pullback resistance.
Pivot: 2,998.31
1st Support: 2,954.94
1st Resistance: 3,051.82
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.
Bullish rise?USO/USD has reacted off the support level which is a pullback support and could potentially rise from this level to our take profit.
Entry: 68.43
Why we like it:
There is a pullback support level.
Stop loss: 67.07
Why we like it:
There is a pullback support level.
Take profit: 70.43
Why we like it:
There is an overlap resistance level that line sup with the 161.8% Fibonacci extension.
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 The 4H MA50 makes all the difference.Gold (XAUUSD) is so far maintaining its long-term bullish trend and will continues to do so even on the short-term, as long as it holds the 4H MA50 (blue trend-line). There are three different Channel Up patterns involved and as long as the 4H MA50 holds, the (dotted) short-term Channel targets 3080 at least.
If the price breaks below the 4H MA50 and the dotted Channel Up, it would be best to close any buys and short instead, targeting the 4H MA200 (orange trend-line) at 2960. It has to be said that every time the 4H RSI traded downwards as it has since Wednesday, a stronger pull-back to the bottom of the long-term Channel Up took place, so that has to favor 2960.
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Could the Gold reverse from here?XAU/USD is rising towards the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 3,032.98
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 3,056.27
Why we like it:
There is a swing high resistance level.
Take profit: 3,005.17
Why we like it:
There is an overlap 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.
Could the price drop from here?The Gold (XAU/USD) has reacted off the pivot and could drop to the pullback support.
Pivot: 3,052.78
1st Support: 3,020.46
1st Resistance: 3,059.37
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.
Bullish continuation?The Silver (XAG/USD) is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 32.93
1st Support: 32.10
1st Resistance: 34.88
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 Major 25-year Resistance getting tested!Gold (XAUUSD) has been on a multi-decade uptrend since the 2000 bottom and shortly after the launch of its ETF. With the exception of the aggressive 2006 break-out, the majority of its price action has been inside the (blue) Channel Up but the use of the Fibonacci extension Channel allows us to catch the key levels of the post 2006 action too.
What's more important is that the market is testing the top of that (blue) Channel Up, i.e. the 1.0 Fibonacci level, for the first time since August 2020, which was a major market top and the start of a 3-year Bear Phase.
As mentioned, the only time this Resistance broke was in April 2006, when Gold truly turned parabolic. The question is, what will it be this time? A macro level bullish break-out to the Fib 1.5 extension or the more short-term dynamic of the top of the blue Channel Up and a rejection back to the long-term Support of 1M MA50 (blue trend-line)?
Tell us your thoughts in the comments section!
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Potential bearish drop?USO/USD has reacted off the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 68.43
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 69.26
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Take profit: 66.46
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 is about to top. What this means for stocks?Seven months ago (August 05 2024, see chart below) we gave our long-term view on Gold (XAUUSD) based on the similarities of the current Cycle with the previous one (before the 2020 High):
The market is now approaching our 3100 Target being up +24% since then. We will not go into the similarities between those two Cycles again. The market will complete on this price a +85.42% rise from the bottom, almost reaching the 3.0 Fibonacci extension.
This cyclical pattern shows that when Gold Tops (on its 3rd 1W RSI High) and starts its 4-year Bear Cycle, the S&P500 (blue trend-line) extends its Bull Cycle up until the moment Gold tests its Bear Cycle Resistance and Double Tops, which is when the S&P500 starts its own Bear Cycle and corrects.
Before Gold tops however, the stock market does experience a volatile phase, which is exactly what SPX has been through since January. This is a great signal telling us that Gold may indeed be headed towards a Cycle Top, perhaps even as early as a month from now.
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Bullish bounce off pullback support?WTI Oil (XTI/USD) has bounced off the pivot and could rise to the 1st resistance which lines up with the 38.2% Fibonacci retracement.
Pivot: 65.73
1st Support: 63.22
1st Resistance: 71.07
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.
Bullish momentum to extend?The Silver (XAG/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance.
Pivot: 32.93
1st Support: 32.10
1st Resistance: 34.88
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.
Potential bullish continuation?XAG/USD is falling towards the support level which is a pullback support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 33.30
Why we like it:
There is a pullback support level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 32.93
Why we like it:
There is an overlap support level that is slightly above the 50% Fibonacci retracement.
Take profit: 33.93
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.
WHEAT Approaching Key Support - Will Price Rebound to 550$?PEPPERSTONE:WHEAT is approaching a key support level, an area where buyers have previously shown strong interest. The recent bearish movement suggests that price may soon be testing this level, potentially setting up for a rebound.
A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would strengthen the case for a move higher. If buyers step in, the price could rally toward the 550$ target. However, a decisive breakdown below this support would invalidate the bullish scenario and could lead to further downside.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.
Best of luck , TrendDiva
Could the Gold drop from here?The price is reacting off the pivot which is a pullback resistance and could drop to the pullback support.
Pivot: 2,900.98
1st Support: 2,863.32
1st Resistance: 2,926.83
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 overlap support?The Silver (XAG/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance.
Pivot: 31.72
1st Support: 31.30
1st Resistance: 32.58
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 One more push to 3100 to price the Top.Gold (XAUUSD) continues to trade within its 2025 Channel Up, in fact the uptrend started a little bit sooner on the November 14 2024 bottom. As we've mentioned before and you can see again today, this is a recurring pattern which has been in effect since October 2022, the bottom of the Inflation Crisis.
This involves the market forming Channel Up patterns of around +20% price increase, which are supported by the 1D MA50 (blue trend-line) and when that breaks, they bottom around the 0.382 Fibonacci retracement level and then turn into a buy opportunity for the next Channel Up.
The 1D RSI Double Tops and signals the price (Channel Up) High. It's first Top is where Gold is right now, typically within the 0.5 - 0.382 Fib Zone. The only time it was above the 0.382 Fib, was when it rose by +22%. As a result, we expect a similar course and a price peak around $3100 but the most effective sell signal remains when the 1D RSI Double Tops.
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Bullish rebound off pullback support?USO/USD is reacting off the support level which is a pullback support that aligns with the 161.8% Fibonacci extension and could rise from this level to our take profit.
Entry: 67.16
Why we like it:
There is a pullback support level that lines up with the 161.8% Fibonacci extension.
Stop loss: 65.80
Why we like it:
There is a pullback support level that lines up with the 100% Fibonacci projection.
Take profit: 69.33
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
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