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Commoditysignals

XAUUSD Double bullish break-out. One last level to go.Gold (XAUUSD) offered us a great double trade following our previous analysis, as first it was rejected on the 4H MA50 (blue trend-line) back near the multi-year Support and the rebounded back to the Lower Highs trend-line of the August High: Now the price broke above both the 4H MA50 and the Lower Highs trend-line and as expected, is consolidating around the Pivot Zone. The last time it did so for that long was from July 22 to July 27. With the 4H MA50 holding as Support, the price then had a 2-week aggressive rally to the 1808 High, which is now our Resistance. We expect a similar consolidation before another strong rally. The 1D MA50 (red trend-line) is now the Resistance to beat which will break that consolidation. Notice also how the RSI on the 1D time-frame has been rising since the September 01 low on the Oversold Zone. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSDLong
by TradingShot
1
XAUUSD Rejected on the 4H MA50. Trading plan ahead.Gold (XAUUSD) closed its 3rd straight red week on Friday which erased all of the gains of the mid July - August gains. On our August 16 Gold post, we expected some relief but of course this selling is heavier than expected: Still, as long as the multi-year Support of 1680 holds, a new rebound to at least the 1800 Resistance Zone is possible. However, the price needs to break above the 4H MA50 (blue trend-line), which rejected the short-term rebound yesterday and preferably the Lower Highs trend-line since the August 10 High. Added pressure is given by the Pivot Zone, which is now acting as Resistance (previously a Support). A bullish factor is the fact that the 1D RSI hit its Oversold Zone. A break above the 4H MA50 can target the 4H MA200/ 1D MA50 (orange and red trend-line respectively) cluster and after a potential re-test of the 4H MA50/ Lower Highs trend-line as a Support this time, then target the 1800 Resistance on the medium-term. On the other hand, a break and weekly closing below the 1680 Support, can turn the trend Bearish long-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
Why Crude Oil is Trending Higher Again, Breaking Above US$100In this tutorial, I will explain both its fundamental and technical reasons for crude oil likely to break above and stay above US$100. I am having two portfolios at all times, one for long-term investing and the other for short-term trading. For the long-term I am mindful the current global inflationary pressure is real and it may last many months or even years ahead. Therefore, my current investment mandate: • U.S. stock markets – To trade them • Commodities – To buy them Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. For your reference: NYMEX Crude Oil $0.01 = US$10 Example: From $94.00 to $100.00 (10000-9400) x US$10 = US$6,000
NYMEX:CL1!Education
by konhow
1
XAUUSD on a Support. Trading plan ahead.Gold (XAUUSD) has been pulling-back on Lower Highs since the August 10 High. It is trading below all short-term MA periods, the 4H MA50 (blue trend-line), the 4H MA200 (orange trend-line) and the 1D MA50 (red trend-line). However having hit the 4H Oversold Zone and the (red) pivot, which is the high volatility range, it is likely to rebound. Best to engage with longs only if the 1D MA50 breaks, which had the last rejection on August 25. A break below the Pivot Zone should test the 1680 level (multi-year Support). Only a break above the 1D MA200 (green trend-line) should be capable of restoring the long-term bullish trend. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
4
Hawkish Fed message extends greenback rallyEUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI ▶️ Last week, despite possible economic ramifications, Federal Reserve Chairman Powell reiterated the central bank’s priority to control inflation. As such, the US dollar continued its dominance over other currencies. USD/CAD rose to 1.3033, just reached 1.3065; USD/JPY added 100 pips to 137.52, then climbed to a month-high of 138.53. Parity once again eluded the Euro, EUR/USD declined from 1.0064 to 0.9961. Fueled by energy security fears, some European Central Bank members also agreed with Chairman Powell’s comments to bring further rate hikes. Meanwhile, GBP/USD fell to 1.1747, currently at 1.1668. The AUD/USD pair met resistance at the 0.700 level and returned to 0.689, Australian retail sales figures in July were at 1.3%, considerably more optimistic than the 0.3% forecast. Gold futures prices were held back by a strong dollar, closing at $1,749.8 an ounce and dropping over $20. Investors are still speculating about the possible outcomes of the Iranian nuclear deal and the OPEC+ meeting in September, WTI crude futures mostly traded flat at $93.06 a barrel. Bitcoin dived below the key level of $20,000 to a closing price of $19,771.8. More information on Mirtrade website.
by Mitrade_official
WTI OIL Bullish divergence could give one last pumpThe WTI Crude Oil (USOIL) has been trading within a structured Channel Down pattern since the March 08 market High, following the immense growth after the COVID 2020 demand crisis. We have covered the Higher Lows zones since the November 02 2020 Low (green circle) and the March 23 2021 Low (blue circle) extensively over the past months on the higher time-frames, but this time we will focus on the Bullish Divergences forming on the lower time-frames (t-f). The chart is on the 1D t-f, as well as the RSI with the MACD on the 8H t-f. As you see, the price is currently testing the August 11 High, which is its short-term Resistance and happens to be also on the 1D MA200 (orange trend-line), which rejected Oil on that particular High. A break above it would be on its own a strong bullish break-out signal on the short-term. The 1D MA50 (blue trend-line) is just above the MA200. On the flipside this means that it will form a Death Cross pattern, which is technically a bearish formation, for the first time since the Feb 25 2020 Death Cross, which preceded the COVID crash. With the Nov 2020 Higher Lows Zone (dotted lines) though right below, the Death Cross effect may be postponed for the short-term. Especially by having the 1D RSI forming the same bullish break-out pattern as with April 2022, which was the Lower Low formation that initiated the rebound to the Lower Highs trend-line of the Channel Down. The Bullish Divergence is more evident on the 8H MACD with them being on Higher Lows while Oil has been on Lower Lows since June 22. Technically the Channel Down should make a new Lower High within 110.00 - 115.00. A break below it though, should finally test the March 23 2021 Higher Lows zone (dashed lines). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
5
XAUUSD Successful rejection as expectedIt was only last week where we first called for some relief following Gold's (XAUUSD) 4 straight green weeks rally: The rejection has been successful and the price is now approaching the Pivot Zone (red) made of a similar fractal back in August - September 2021. The 4H MA50 (red trend-line) has crossed again below the 1D MA50 (blue trend-line) for the first time since April 27. The same happened on September 16 2021 (red flag). This short-term pull-back shouldn't alter the medium-term bullish trend, as shown by both the 1D RSI, which remains on Higher Highs and the 1D MACD (histogram on Higher Highs and Higher Lows, but on Bearish Cross). Perhaps it would be best to wait for a break above the 1D MA50 again for a safer buy. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
WTI OIL 3rd week below the 1W MA50. Critical Support below.The WTI Crude Oil (USOIL) opened the week yesterday on the 3rd straight 1W candle below the 1W MA50 (blue trend-line). Last time that such streak took place was in early November 2020! It is therefore easy to understand that if this level is not recovered, Oil may enter a new Bear Cycle. On the short-term we ideally want to see a candle closing above the 1D MA200 (red trend-line), in order to trigger a buy signal, targeting the Lower Highs of the March Top. Until then, the short-term price action calls for further selling towards the November 2020 Higher Lows trend-line. A closing below should be enough to trigger a bearish extension to the March 2021 Higher Lows. The 1W RSI has been trading within a Channel Down since March 2021 and is close to its bottom. That is an indicator showing that if it starts reversing, we may see a rebound (at least on the medium-term) on the November 2020 Higher Lows. We will follow with many updates until then. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
XAUUSD on 4 straight green weeks. Some relief next?Gold (XAUUSD) has completed four (4) bullish 1W (weekly) candles in a row since the mid July bottom. This is its longest green weekly streak since December 2021. Having broken last week above the Lower Highs trend-line from the March 08 Top, Gold quickly re-tested its 1D MA50 (green trend-line) as a Support. The overall long-term outlook hasn't changed since our July 08 idea: The next Resistance to overcome is the 1D MA200 (yellow trend-line) - 1W MA50 (blue trend-line) cluster, which happens to be just above the 0.382 Fibonacci retracement level. We may not get a real move for months, as Gold has previously traded sideways within the 1750 Pivot line and that Resistance cluster, from late June 2021 to early February 2022 and the Ukraine - Russia war that helped it to fundamentally break upwards. So it is our opinion that unless XAUUSD closes above the 0.5 Fib level, a lot of low risk sideways opportunities exist within roughly 1750 - 1830. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
WTI OIL Rejection on the 1D MA200.The WTI CRUDE OIL (USOIL) is trading within a Channel Down since June 29, following quite closely the outlook we presented 1 month ago, as it hit the 1D MA300 (red trend-line) target: As you see, it has been below the 1D MA50 (blue trend-line) all this time and the longer it does, the more likely it is to print a Lower Low within the Channel Down on the dotted long-term Higher Lows trend-line around 82.00. This is further enhanced by today's rejection on the 1D MA200 (orange trend-line). If however it breaks above the 1D MA50, look for a reversal towards the Lower Highs of March 08. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:USOILShort
by TradingShot
3
XAUUSD Make or break time for the bullish case after a long timeGold (XAUUSD) continues to trade within the Channel Up we discussed last time, having hit on Thursday the 1D MA50 (blue trend-line) for the first time since April 22: It has only been a month since we laid out the symmetrical levels on the long-term and how 1680 would be targeted but remained the long-term Support. The rebound since July 21 has been strong and having broken above the 1D MA50, Gold is making a case for finally reversing the long-term bearish trend: As you see on today's chart, the final hurdle is the Lower Highs trend-line that started from the March 08 Top. Both the 1D RSI and the MACD show that the we've broken above momentum Resistances and the buying pressure is pilling up. A favorable R/R strategy would be to sell with an SL on the March Lower Highs if the 4H MA50 (red trend-line) breaks, and target the 1725 level, which is top of the Pivot Zone. If the price breaks above the March Lower Highs, we'll have the final confirmation for the shift to a bullish trend long-term, with a first target on the 1D MA200 (orange trend-line) and second the 0.5 Fibonacci retracement level at 1875. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
WTI OIL heavily bearish eyeing a level untouched since Dec 2021!WTI CRUDE OIL (USOIL) eventually followed the rough projection we made three weeks ago and made a Lower Low as it failed to break above the 1D MA50 (blue trend-line) again: This has created a new Channel Down on the medium-term, which after closing below the 1D MA200 (orange trend-line), it is now eyeing the 1D MA300 (red trend-line) for the first time since December 02 2021! As we outlined in our previous analysis though, the downtrend is unlikely to stop there and most likely will hit the November 2020 Higher Lows trend-line around 82.00 - 83.00 before giving a relief (at least) rally. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
TVC:USOILShort
by TradingShot
1
GASOLINE Head and Shoulders likely to turn long-term bearishGasoline (RB1!) has been rising since the March 2020 bottom on a straight Channel until late February 2022 where war and inflation worries turned it parabolic as illustrated by the use of the Fibonacci Channel extensions. Following the June 06 market top, a Head and Shoulders (H&S) pattern was formed that hit (and so far rebounded on) the 1D MA200 (orange trend-line), a level touched for the first time since December 23 2021. A break below the Support, should target the lower extension of the 1D MA300 (green trend-line), if not a retest of the Shoulder Resistance and potentially rejection on the 1D MA50 (blue trend-line) would initiate the 1D MA300 drop. This trend-line has been Gasoline's Support since December 08 2020. This however may be the perfect opportunity to break it finally as the H&S pattern typically end such parabolas in fashion to at least the 0.618 Fibonacci Retracement level. Interestingly enough, that happens to be currently on the 1W MA200 (red trend-line). -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYMEX:RB1!Short
by TradingShot
1
NATURAL GAS testing the 1D MA50 support.It has been almost 1.5 month since we last updated our Natural Gas (NG) thesis: As you see the symmetry within this long-term Bullish Megaphone worked perfectly and our sell hit the 1D MA200 (orange trend-line) - 1D MA300 (green trend-line) Support Zone and rebounded. If you took that last buy and you haven't booked profits already, it may be a good time to do so if the current Support on the 1D MA50 (blue trend-line) breaks. The reason is the Double Top formation created on the July 26 rejection. If the 1D MA50 breaks, target again the 1D MA200 at least. This long-term pattern has been very consistent and there seems to be no reason to change that until it breaks either direction. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYMEX:NG1!Short
by TradingShot
1
XAUUSD turned to a Channel UpGold (XAUUSD) broke above its 4H MA200 (orange trend-line0 today for the first time since June 23. It has done so by forming a Channel Up pattern since the rebound on the 1680 Support. That was a projection we clearly outlined on our long-term analysis at the start of July: Right now the next Resistance that buyers are targeting is the 1D MA50 (red trend-line), which has been intact since April 22. Most likely this will coincide with a test of the March 08 Lower Highs trend-line, where a break above will be a major bullish break-out and should start filling the higher Fibonacci retracement levels. If you haven't bought already and are looking for a confirmation signal, do so after the 1D RSI breaks above the June 10 Resistance. On the other hand, any rejection on the 1D MA50 or the March 08 Lower Highs trend-line, will be a sell signal (short-term) towards the 4H MA50 (blue trend-line). -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
1
WTI OIL testing the top of its 1 month Channel Down.WTI Oil (USOIL) broke today above the 4H MA50 (blue trend-line) again after a three day stay below it and is approaching the Lower Highs (top) trend-line of the Channel Down it started after the June 14 High. On 4H RSI terms as well, it looks like the V-shaped Lower Highs test of June 29 - July 05 that ultimately led to a sharp sell-off towards the bottom of the Channel. As a result our strategy is to take this favorable R/R sell trade as long as the top of the Channel holds and target the Support (also the 1W MA50 (green trend-line)) at 91.00 and if we get a 1D candle closing below it, then target the multi-year Higher Lows trend-line (dotted line) at 80.00. This pattern is invalidated if the price breaks above the Channel Down and a buy signal will be waiting above the 4H MA200 (orange trend-line), targeting the March 2022 (war) Lower Highs trend-line at 120.00. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
TVC:USOIL
by TradingShot
XAGUSD At the bottom of the 2 year Channel DownSilver (XAGUSD) has been approaching the bottom of the long-term Channel Down that has been trading in since the February 01 2021 High. This makes it an automatic technical buy targeting first the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) in extension. This is depicted on the 1D RSI as well which is rising after breaking below the 30.00 oversold level. As long as the bottom (Lower Lows) trend-line holds, the price action is a buy. If it breaks, we may see the price drop as low as the -0.382 Fibonacci extension, which is the symmetrical move that happened during the March 2022 war extreme. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
FX_IDC:XAGUSDLong
by TradingShot
1
Intensified recession mood as US bond yield curve remains invertEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 XAU 🔽 WTI 🔼 Almost three weeks of an inverted US bond yield curve has led investors all but confirm the recession, and sluggish GDP data on Thursday could be the nail in the coffin. The latest price to yield readings of the two- and ten-year Treasury notes were at 3.0081 and 2.785, respectively, which remained inverted since 6 July. Meanwhile, major currencies have retrieved lost ground against the greenback. EUR/USD has a minor uptick to 1.022, despite Monday's Germany IFO business climate index declining to 88.6, falling short of the 90.2 forecasts. GBP/USD returned above the 1.2000 level to close at 1.2042. AUD/USD rose and stabilized at 0.6950 level, reaching a closing price of 0.6953. The Australia Consumer Price Index will be available on Wednesday morning to reveal recent price level changes. USD/CAD slumped to 1.2848, after slowing at the 1.2850 level. The jury is still out on gold being the proper hedge option for the possible recession, gold futures retreated from a high of 1,733.3 to 1,719.1. WTI oil futures gained $2 to $96.7 a barrel, lower than expected gas demand in the ongoing US driving season has eased the supply shock impacts. More information on Mitrade website.
by Mitrade_official
XAUUSD is a buy again but act cautiouslyWe have been bearish on Gold (XAUUSD) since the March (war) peak and especially since the start of the month have been warning of a potential $100 collapse: This time however we have a number of indicators pushing the scale in favor of (short-term at least) buying again after 2 months. The chart on the left is on the 1D time-frame, while the one on the right is on the 4H. As we see on the 1D, the RSI started to find Support while trading within a Channel Down since April. This could be similar to the March 2021 bottom that made a short-term rebound to 1755. With 4H showing the price action since July 06 within a Channel Down but the 4H RSI on Higher Lows (bullish divergence), we are waiting for a break of the 4H MA50 (blue trend-line on the 4H chart, red on the 1D) to target 1755. A new break above 1760 constitutes a new bullish break-out signal towards the 4H MA200 (orange trend-line) - 1D MA50 (red trend-line on the 4H chart, blue trend-line on the 1D chart) cluster. After that we have to evaluate based on the macro-economics at the time. There are the Fibonacci retracement levels involved for a longer-term approach. A rejection on the 4H MA50 or the 1760 Resistance, are both short-term sell signals. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
FX_IDC:XAUUSD
by TradingShot
4