Crude Oil
Weekly and Monday analysis for Nasdaq, Oil, and GoldNASDAQ
NASDAQ closed lower, finding support at the 5-day moving average. Last Friday unfolded as expected, with a correction to the 5-day line being part of the wave pattern, making a sell-oriented approach the best strategy for the day. The downward wave emerged in the afternoon rather than during the pre-market, resulting in extended consolidation. On the weekly chart, it formed a bullish candle, reaching the upper range of the box zone; however, the MACD has yet to fully cross above the signal line.
This week, the area between the 3-day and 5-day moving averages (20,800–20,600) could act as a short-term pullback buying zone. If this area fails to hold and prices close lower with a bearish candle, the market might revert to maintaining a wide-ranging box zone. Therefore, it's crucial to close the week with a bullish candle to confirm a buy signal.
On the daily chart, the MACD and signal line are positioned above the zero line, indicating that buying pressure could persist. However, the Bollinger Bands are narrowing, suggesting that significant additional surges are unlikely. A short-term correction perspective is advisable. If prices fail to decisively break above the 3-day moving average near 21,950, a correction to the 10-day moving average should be considered.
The 240-minute chart shows the emergence of a long bearish candle forming a double top. If Friday’s low at 21,844 is breached, there’s a strong likelihood of filling the gap created on January 22. The MACD and signal line still show a significant gap from the zero line, so there could be support and a rebound at the lower levels. In summary, while a short-term sell perspective is advisable, buying opportunities could emerge near the gap-filling zone around 21,700 during pullbacks.
OIL
Oil closed higher at $74, finding support and forming a bullish daily candle for the first time in six trading sessions. This bounce establishes a foothold at the key support level of $74. On the weekly chart, prices found support at the 5-day moving average. Although the MACD has crossed above the zero line, the signal line is still slightly below it.
If a bullish candle forms this week, it will confirm a buy signal on the weekly chart, favoring buy-oriented strategies. On the daily chart, prices could rise again, finding support at the 20-day moving average. However, the sharp downward angle of the recent decline from $79 and the ongoing sell signal from the MACD indicate that any rally may face resistance and pullbacks.
If prices rebound to the $77–$78 range, there is a high probability of a pullback. The $74–$79 range is likely to hold, with a period of consolidation allowing moving averages to converge. On the 240-minute chart, bullish divergence is forming near $74, and the MACD is on the verge of generating a buy signal. A buy-oriented strategy on pullbacks is advisable.
GOLD
Gold closed higher with an upper shadow on the daily candle. On the weekly chart, prices reached the upper Bollinger Band. The MACD, however, has yet to achieve a golden cross above the signal line, keeping the sell signal intact. A strong rally with a long bullish candle would be required to confirm a buy signal.
If additional upward momentum fails and prices start to decline, the MACD may turn downward again. The current gap between the MACD and signal line suggests that an immediate buy signal might not be achievable. On the daily chart, buying pressure remains strong, and as long as the 10-day moving average holds, a one-way buying trend is likely.
On the 240-minute chart, resistance is evident at higher levels, and divergence in the MACD could occur. It’s advisable to avoid chasing prices higher. Given the staircase-like upward movement, a buy-oriented approach on pullbacks is recommended.
This Week’s Key Events:
FOMC meeting (Wednesday)
Tesla and Meta earnings reports (Wednesday)
Apple earnings report (Thursday)
Expect heightened volatility on Wednesday and Thursday. Good luck with your investments this week!
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21,850 / 21,785 / 21,720 / 21,630 / 21,530
-Sell: 21,970 / 22,010 / 22,055 / 22,105
OIL - Range-bound Market
-Buy: 74.15 / 73.40 / 72.80 / 72.40
-Sell: 75.20 / 75.95 / 76.40 / 77.10
GOLD - Bullish Market
-Buy: 2,774 / 2,768 / 2,762 / 2,752
-Sell: 2,782 / 2,793 / 2,799 / 2,816
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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Light Crude Oil Futures (CL1!): Setting New LimitsWe’ve been patiently waiting for an entry at $58, but the market hasn’t reached our level. After reassessing the chart, we believe it’s now more profitable to play CL1! as a long following what appears to have been a fake breakout.
Recent developments, including Trump’s declaration of a national energy emergency to “unlock the liquid gold under our feet” and prioritize U.S. oil and gas development, could bolster bullish sentiment in the energy sector.
If our wave count is correct, we are currently in intra wave 2 of wave ((iii)). If this setup holds, a target of at least $115 seems achievable. We are placing our limit order and will patiently wait to get filled.
Key Levels at the moment:
Support Zone: $67.70–$64.40
Resistance Zone: $85–$88
Today analysis for Nasdaq, Oil, and GoldNASDAQ
The NASDAQ closed higher, supported by the 3-day moving average on the daily chart. After a recent surge, it has reached the upper Bollinger Band, with both the MACD and signal line crossing above the zero line, confirming a buy signal. However, due to the sharp rally, there is potential for a pullback today. If the price retraces to the 5-day moving average, it could consolidate within a range, allowing moving averages to converge.
Should the NASDAQ fall further, the key question is whether it will fill the gap near 21700. If the gap remains unfilled and the price breaks higher, the daily buy signal would stay intact, potentially accelerating bullish momentum.
On the 240-minute chart, the sell signal remains active despite a rebound. Selling at higher levels is preferable, while watching if the MACD avoids falling below the zero line and instead forms a golden cross with the signal line. Focus on dip-buying and selling at resistance, keeping the potential for a pullback to the 5-day moving average in mind.
CRUDE OIL
Crude oil closed lower, falling below the $75 level. It ended near the midpoint of the large bullish candle from January 10 ($74.66) after further downside pressure. This week’s decline reflects President Trump’s push to lower oil prices.
Currently, crude is near the 20-day moving average and within the $74–$75 support zone, which aligns with the weekly 5-day moving average. This area is suitable for swing trading and dip-buying strategies.
On the daily chart, the MACD has crossed below the signal line, creating a short-term sell signal. However, the significant divergence from the zero line suggests that crude may consolidate with bullish candles before attempting another upward move.
On the 240-minute chart, the MACD has not yet formed a golden cross with the signal line, but selling pressure has weakened significantly. If a golden cross occurs, a strong rebound could follow. Avoid chasing shorts and focus on buying dips at key levels.
GOLD
Gold rebounded from key support levels, closing flat with a lower wick on the daily candle. The daily chart shows that bullish momentum remains strong, making dip-buying at major support levels the preferred strategy.
Gold touched the upper Bollinger Band on the weekly chart before pulling back, indicating that a clear trend may not emerge until next week.
On the 240-minute chart, a sell signal formed at the recent high, with the MACD divergence leading to a sharp decline. While the price is recovering, the sell signal remains active, increasing the likelihood of another pullback.
Gold appears to be consolidating within a range, building energy for the next leg higher. Today, focus on box-range trading with selling at resistance and buying at support. Be mindful of major economic data releases before the main session, and manage risks carefully. Best of luck with your trades, and have a successful end to the week!
■Trading Strategies for Today
NASDAQ - Bullish Market
-Buy: 21980 / 21910 / 21870 / 21790 / 21720
-Sell: 22040 / 22075 / 22110
Crude Oil - Range-bound Market
-Buy: 74.10 / 73.40 / 73.00 / 72.40
-Sell: 75.10 / 75.70 / 76.20 / 76.75 / 77.10
Gold - Bullish Market
-Buy: 2750 / 2743 / 2737 / 2731
-Sell: 2770 / 2774 / 2779 / 2785
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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Prime Buying Opportunity for Crude Oil Nearing
Crude oil is currently consolidating around the $75 level. A glance at the daily MACD reveals a close but no crossover of the MACD and signal lines. A bearish close today could signal a downturn, but a bullish close would likely see the MACD resume its upward trend.
Since its correction from $79, the price has been holding above the midpoint of the January 10th bullish candle at $74.66. This level, also coinciding with the 5-day moving average on the weekly chart, is a crucial support zone. Given the significant volume accumulated in the first week of January, this presents a compelling opportunity for aggressive swing trading.
Today's oil inventory report is expected to act as a catalyst for a bullish reversal. While the market is bearish on oil supply expansion due to Trump's election, technical analysis suggests further upside potential. We recommend adopting a buy-on-dip strategy.
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Today analysis for Nasdaq, Oil, and GoldNASDAQ
The NASDAQ closed higher on news of President Trump’s plans to expand AI investments. It surged strongly to the upper Bollinger Band on the daily chart, lifting the MACD above the zero line. However, a gap formed due to Netflix's earnings report, and there is a possibility that this gap could be filled during future corrections.
While the signal line remains below the zero line on the daily chart, indicating the potential for a pullback, strong buying momentum on the 240-minute chart suggests the NASDAQ could rise further to the 22200–22300 zone. A sell-off might emerge only if the MACD on the 240-minute chart dead crosses the signal line, signaling a shift to a bearish trend. There is also upside potential to 22250, the upper boundary of the weekly chart, so it's wise to keep this level in mind.
For now, focus on buying dips, but keep an eye on the transition from an uptrend (positive alignment) to a downtrend (negative alignment) on the short-term charts. If the 240-minute MACD dead crosses, it could signal a correction, so monitor the price movements closely.
CRUDE OIL
Crude oil closed lower, consolidating in a box range near the $75 level. The large bullish candle from January 10 serves as a key reference point, with the midpoint of that candle acting as a support level.
For a rebound on the daily chart, a bullish candle needs to form. Currently, the MACD is closely aligned with the signal line. If the MACD avoids a dead cross and turns upward, there’s a high chance of a third bullish wave. Keep an eye on the upcoming crude oil inventory data to see if it triggers a trend reversal.
On the 240-minute chart, the MACD is attempting to cross above the signal line in the oversold zone, showing a potential for a rebound. With prolonged consolidation around $75, a strong upward move could follow any breakout. Avoid chasing shorts, and if the price drops to $74, it could provide a great buying opportunity.
GOLD
Gold closed higher, breaking above the 2760 resistance level. This breakout opens the possibility of further gains to the upper Bollinger Band on the weekly chart, around 2780. However, the divergence between the MACD and the signal line on the weekly chart makes a further golden cross less likely, meaning a correction could occur in the next week or two.
On the daily chart, the bullish trend remains strong, making it advisable to avoid short positions. The 240-minute chart shows a third bullish wave following a golden cross of the MACD, supporting further gains. Ideally, continued strength above 2780 would prevent a divergence from forming on the MACD, which could lead to a sharp decline if unaddressed.
For now, use 2760 as support and focus on range-bound trading while monitoring for a potential breakout above key levels. Always be prepared for volatility and manage risk carefully.
Positive market momentum is being driven by new government policies and plans, including tariffs, the Stargate Project, and expanded AI infrastructure investments. These developments could act as catalysts for further gains. Stay updated on these issues, and as always, manage your risks carefully. Best of luck with your trading today!
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21920 / 21870 / 21790 / 21720
-Sell: 22035 / 22075 / 22135 / 22230
Crude Oil - Range-bound Market
-Buy: 75.10 / 74.70 / 74.30 / 73.60
-Sell: 75.70 / 76.20 / 76.75 / 77.10
Gold - Bullish Market
-Buy: 2759 / 2754 / 2748 / 2738
-Sell: 2771 / 2778 / 2783 / 2794
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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Today analysis for Nasdaq, Oil, and GoldNASDAQ
The NASDAQ closed higher, combining two days of movement into one candle. As anticipated, it rose during the pre-market session but declined during the main session. The daily chart formed a bullish candle, confirming yesterday's buy signal. The bullish trend on the daily chart is likely to continue, but with the current significant gap between the 3-day and 5-day moving averages, a pullback followed by renewed buying pressure is expected.
It is essential to focus on dip-buying rather than chasing prices. However, keep in mind that the weekly chart still shows a sell signal, and both the MACD and signal line on the daily chart remain below the zero line, indicating the possibility of a reversal to a bearish wave at any time.
On the 240-minute chart, the buy signal is intact, and the upward trend continues. However, there is no significant improvement in market liquidity. A strong bullish candle that breaks the box range is needed, but such a move has not yet materialized. Therefore, pre-market sessions may show mixed movements. Selling at resistance levels for box-range trading is advisable. Be mindful of potential volatility due to executive orders from President Trump, which could lead to sharp price swings.
CRUDE OIL
Crude oil closed lower, finding support at the $75 level. As mentioned previously, the $74–$75 range aligns with the 5-day moving average on the weekly chart and serves as a critical support zone, making it a favorable area for dip-buying.
With a 400-tick drop from the $79 high and no dead cross between the MACD and signal line on the daily chart, there is a high probability that oil will rebound as the MACD supports the signal line. On the 240-minute chart, the MACD and signal line have dipped below the zero line, which could accelerate selling momentum. However, the 60-period moving average on the 240-minute chart continues to slope upward, suggesting that selling should be avoided and buying at key support levels is a better approach.
GOLD
Gold closed higher, leaving a lower wick near key support levels. On the weekly chart, resistance remains overhead, but the daily chart indicates that the trend could continue upward, making dip-buying a favorable strategy.
The MACD and signal line on the daily chart remain in an upward trajectory, and a breakout above the 2760 resistance level could open the way to 2780. On shorter timeframes, consolidation followed by a golden cross of the MACD and signal line is evident, while the 240-minute chart has also confirmed a golden cross.
Although further upside is likely, the significant divergence between the MACD and its previous peaks on the 240-minute chart increases the probability of divergence after a substantial rally. Therefore, refrain from chasing prices after a sharp rise and instead focus on buying dips near key support levels while monitoring the breakout above 2760.
Market volatility is intensifying due to President Trump’s remarks. Similar patterns were observed during his first term, as his statements, often made via social media, caused significant fluctuations in the futures markets. Ensure proper stop-loss levels and manage risks carefully in this volatile environment.
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21770 / 21710 / 21630 / 21590 / 21530
-Sell: 21880 / 21940 / 22040 / 22110
Crude Oil - Bullish Market
-Buy: 75.10 / 74.60 / 73.60 / 73.00
-Sell: 76.30 / 76.70 / 77.10 / 77.50
Gold - Bullish Market
-Buy: 2751 / 2743 / 2738 / 2731
-Sell: 2767 / 2777 / 2782 / 2787
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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WTI tests resistance after bouncing from $75"We will drill, baby, drill"
That's what Donald Trump said yesterday and is what makes me think oil is headed lower in longer-term outlook, or at best upside should be limited in long-term.
In short-term a lot can happen of course, but right now the path of least resistance appears to be to the downside.
WTI has been trending lower in the last few days and broken some important support levels. These levels have turned into resistance. For example: $77.00.
Earlier, prices dipped to test the first major support area around 75.00, and it bounced from there. But thanks to Trump's bearish oil policy, we could see the selling resume.
At the time of writing, WTI was testing another broken support level around the 75.80 to 76.05 area. Will we see the sellers return here?
By Fawad Razaqada, market analyst with FOREX.com
Today analysis for Nasdaq, Oil, and GoldNASDAQ
The NASDAQ closed early due to the U.S. market holiday, and yesterday’s and today’s daily candles will merge into one. As anticipated, the U.S. market showed an upward trend, but it is likely to exhibit sideways or downward movement during the pre-market and regular trading sessions today.
While the daily chart has generated a buy signal, confirmation will only occur if today’s candle closes as a bullish one. With significant resistance levels overhead, the market needs a strong bullish candle to widen the gap between the MACD and signal line. Failure to generate such a rally may lead to repeated resistance at the upper levels and increase the likelihood of a downturn.
On the 240-minute chart, no sell signal has been generated yet, but the market appears to be absorbing overhead supply. If a MACD dead cross emerges, the buy signal on the daily chart may fade, potentially reversing the trend to bearish. Avoid chasing prices and refer to yesterday’s detailed pre-market analysis for further context.
CRUDE OIL
Crude oil closed lower, correcting down to the 10-day moving average. After a brief consolidation at the $76 support, it declined further. The $74–$75 range serves as a critical support level and aligns with the 5-day moving average on the weekly chart. Buying on dips within this range is favorable. However, it is advisable to enter at lower levels, as rebound risks make shorting less viable.
On the 240-minute chart, the MACD is falling towards the zero line, steepening its angle against the signal line. Even if oil rebounds from key support levels, it may face further selling pressure, as a MACD golden cross appears unlikely. Since yesterday’s expected downtrend materialized, today’s strategy should focus on cautious dip-buying at lower levels.
GOLD
Gold closed lower, finding support near the 5-day moving average as anticipated in yesterday’s analysis. The strong pullback to the 5-day moving average provides a reasonable entry point for buying on dips. However, the weekly chart indicates potential for further downside, suggesting short-term positions to manage risk effectively.
On the 240-minute chart, a sell signal has emerged as a head-and-shoulders pattern broke its neckline. A further drop below 2730 could lead to additional downside toward the 2718 support level, where dip-buying may be considered. The MACD and signal line remain significantly below the zero line on the 240-minute chart, increasing the likelihood of a rebound at key support levels.
Avoid aggressive short-selling and note that the broader trend remains bullish, as gold's daily chart exhibits strong buying momentum. Focus on buying near major support levels during pullbacks for a favorable risk-to-reward ratio. Manage your risk carefully and best of luck with your trades today.
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21660 / 21620 / 21570 / 21510 / 21480 / 21350
-Sell: 21780 / 21880 / 21940 / 22005
Crude Oil - Bullish Market
-Buy: 75.70 / 74.95 / 74.50
-Sell: 77.50 / 77.85 / 78.25 / 78.65 / 79.10
Gold - Bullish Market
-Buy: 2726 / 2716 / 2708 / 2700
-Sell: 2738 / 2747 / 2753 / 2758
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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CL Bearish Outlook Look like after price took out BSL at the PDH from 80.16 it has moved lower and has been targeting PDLs. There is a nice discount D BISI that I believe price will trade into and if price is truly Bearish then it will trade right through the D BISI CE level and find minimal support and then the next area of focus could be the double bottom at 72.70
Lets continue to watch price and see how it delivers.
Weekly and Today analysis for Nasdaq, Oil, and GoldNASDAQ
NASDAQ closed higher, breaking above the upper trendline resistance on the daily chart. On the weekly chart, the sell signal is still active, and the MACD has yet to cross above the signal line. Therefore, even if the market rises early this week, it could potentially retreat again. This underscores the need to avoid chasing highs.
On the daily chart, a buy signal was generated with today’s candle, but it is not confirmed by yesterday’s action. If today’s session ends with a bearish candle, the buy signal could disappear. For a sustained upward move, today must close with a bullish candle and create a clear buy signal. Furthermore, for this signal to be meaningful, the signal line must move above the zero line, with a wider divergence between the MACD and the signal line driven by additional gains.
On the 240-minute chart, a long bullish candle has created a potential third wave up. Breaking through the upper trendline is significant, but whether this uptrend will continue remains uncertain. Additionally, with U.S. markets closed today for Martin Luther King Jr. Day, today's and tomorrow’s daily candles will be combined. Expect sideways movement with a bullish tilt today, with the main market session tomorrow likely determining the direction. Focus on buying on dips while avoiding chasing highs.
CRUDE OIL
Crude oil closed lower, forming an upper wick on the daily chart. On the weekly chart, the price is significantly distanced from the 3-day and 5-day moving averages, suggesting that this week could see consolidation or a pullback from the $79 resistance level.
On the daily chart, crude has fallen below the 5-day moving average, now trading within a range between the 5-day and 10-day moving averages. The $74–$75 range represents an attractive buy zone during a pullback. This area aligns with the weekly 5-day moving average, making it a critical level to watch.
Around $76, where the 10-day moving average lies, significant support exists on intraday charts. Observing whether this level holds on the first test is crucial. On the 240-minute chart, the MACD remains significantly above the zero line, favoring continued buying on dips. The first key support is around $76, and the second is in the $74–$75 range, where the MACD could attempt another bullish crossover. Be mindful of reduced trading volumes due to the U.S. market holiday and focus on range-bound strategies.
GOLD
Gold faced resistance near the 2760 level, closing with a doji candle. On the weekly chart, the MACD is diverging from the signal line, suggesting that further upside may face resistance around the 2785 level. If the MACD on the weekly chart fails to form a golden cross, a pullback may occur.
On the daily chart, the strong buy trend remains intact, favoring a buy-focused strategy. However, on the 240-minute chart, a potential dead cross could signal short-term corrections. With U.S. markets closed today and tomorrow, gold could dip to the 5-day moving average, creating buying opportunities during pullbacks.
For today, short-term selling at highs with a focus on key support levels for buying on dips is recommended. Sideways movement during pre-market hours may continue, with tomorrow’s main session likely setting the next direction. Stick to box-range trading and take advantage of key opportunities if prices reach critical levels.
With U.S. markets closed on Monday, reduced trading volumes make box-range trading strategies more effective. Use this time to prepare for potential opportunities at key levels. Stay diligent with risk management, and have a successful trading week ahead.
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21510 / 21480 / 21350 / 21310 / 21270
-Sell: 21650 / 21740 / 21780 / 21880
Crude Oil - Bullish Market
-Buy: 76.90 / 76.30 / 75.70 / 74.95
-Sell: 77.80 / 78.25 / 78.60 / 79.00
Gold - Bullish Market
-Buy: 2730 / 2723 / 2719 / 2715
-Sell: 2747 / 2753 / 2758 / 2762 / 2777
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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OUR TRADE TODAY ON OILToday, we took 3 trades, A profitable and 2 in loss.
I will share the 3 of them so I share with you the other side of trading with only few people show which is losses.
Our trade on OIL went as expected, but the other one on NASDAQ and GOLD didn't go as planned which left me and my clients with couple $ up. And that's normal since we're still in profit on the weekly and monthly basis.
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Today analysis for Nasdaq, Oil, and GoldNASDAQ
NASDAQ closed lower, facing resistance near the 20-day moving average. It struggled at the midpoint of the long bearish candle formed on January 7 (21570), which coincides with the upper trendline resistance originating from the December 16, 2023 high (22450). The market's direction—whether it breaks above the upper trendline resistance around 21500 or reverts to the center of the downtrend—remains to be seen.
On the weekly chart, a sell signal has been triggered. On the daily chart, the significant gap between the MACD and signal line suggests a higher likelihood of continued downside. However, after consolidating around the center of Wednesday's large bullish candle, the market may trade sideways for a few days before determining its next direction.
On the 240-minute chart, both the MACD and signal line are above the zero line. After consolidating in a box range, the market may see a bullish third wave supported by the MACD holding above the signal line. Alternatively, a dead cross could form, signaling a shift to bearish momentum. For today, a range-bound strategy focusing on selling at highs and buying at lows is appropriate. Note that Fridays can often bring choppy price action.
CRUDE OIL
Crude oil closed lower after facing resistance at the upper monthly boundary. On the daily chart, the significant gap between the price and moving averages increases the risk of pursuing long positions at higher levels. If oil breaks below the 5-day moving average, the 10-day moving average or the $74–$75 range could act as support. A pullback to these levels would provide an opportunity for buying on dips.
The recent month-long rally has caused the MACD and signal line to diverge significantly above the zero line, supporting a buy-on-dip strategy during corrections. However, as mentioned previously, a sell signal has appeared on the 240-minute chart, along with MACD divergence, suggesting a higher probability of additional downside. The recent $79 rally could represent the head of a head-and-shoulders pattern, with the right shoulder acting as resistance upon a rebound. Below $76, strong support exists, so box-range trading near critical levels is recommended.
GOLD
Gold closed higher, supported by declining Treasury yields. The daily chart confirms a fully established uptrend, making it advantageous to focus on buying during pullbacks. Treasury yields, which have been inversely correlated with gold, are also showing sell signals, suggesting further downside in yields and strength in gold.
If gold breaks above the 2755 level, it could test the weekly chart resistance at 2788. However, resistance at this level may prevent the weekly MACD from forming a golden cross, leading to a consolidation phase over the next few weeks. On the 240-minute chart, strong buying momentum suggests a bullish third wave that could replicate the prior move from 2625 to 2735. With the clear daily trend and one-way price action, this is a favorable period for swing trading to maximize profits. Traders should consider this an opportunity to grow their accounts.
This week included major events like the CPI report. Next Monday, Donald Trump will officially be inaugurated as U.S. President. Given past market volatility during Trump's presidency, expect heightened price swings ahead. Always adhere to stop-loss levels and manage risks diligently. Wrap up the week well, and best of luck in your trading endeavors.
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21150 / 21090 / 21020 / 20940
-Sell: 21330 / 21370 / 21420 / 21490
Crude Oil - Bullish Market (March futures)
-Buy: 77.50 / 77.00 / 76.20 / 75.70 / 74.90
-Sell: 78.55 / 79.00 / 79.35 / 80.30
Gold - Bullish Market
-Buy: 2738 / 2729 / 2722 / 2715 / 2700
-Sell: 2757 / 2765 / 2772 / 2780 / 2788
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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OUR TRADE TODAY ON USOILMy clients and I today too 2 trades, one on Oil and the other one on Nasdaq, we entered after that the market gave us a reversal point to target the liquidity level, which the market filled later in the day.
I didn't post it since we had to focus on recovering the losses silently, since we did, I'll be reposting again.
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Today analysis for Nasdaq, Oil, and GoldNASDAQ
The NASDAQ closed higher, digesting the release of the CPI data. On the weekly chart, it faced resistance at the 5-week moving average, forming an upper wick. After a downtrend early this week, the market rebounded significantly. On the daily chart, the index rose to around the 20-day moving average but has yet to see the MACD cross above the signal line, making it premature to confirm a buying signal. Even if the uptrend continues, it would be prudent to wait for a golden cross in the MACD before committing to a buy position. Moreover, there is significant resistance from prior supply zones, making a sell strategy around higher levels valid.
On the 240-minute chart, as mentioned previously, a failed dead cross led to a rebound, forming an inverse head-and-shoulders pattern. The MACD is trending upwards and diverging from the signal line. However, since the signal line is still below the zero line, a sideways consolidation phase may be necessary before a sustained move higher. Today, it is advisable to focus on range-bound trading within a box, managing risks carefully with sell strategies at higher levels.
OIL
Crude oil closed higher as it absorbed inventory data and the pipeline shutdown news. On the daily chart, it found support at the 5-day moving average and broke strongly above $78 (March futures), the upper boundary of the monthly chart. However, the sharp upward move has created significant gaps between the moving averages, suggesting the potential for a corrective phase today.
On the 240-minute chart, a buy signal has triggered a sharp rise, but the MACD has not yet surpassed its previous high. A failure to rally further could create bearish divergence. A significant correction and support at previous resistance levels, such as the $74–$75 range, could present a buying opportunity. Meanwhile, profit-taking may dominate as the market digests the recent rally. A box range approach with buy strategies on dips and sell strategies at higher levels is recommended.
GOLD
Gold closed higher after digesting the CPI data. On the daily chart, both the MACD and the signal line have moved above the zero line, signaling a confirmed buy trend. Further upside is expected, as it has also broken above the resistance line of a triangular consolidation pattern. A buy-focused strategy remains valid.
On the 240-minute chart, a buy signal preceded continued gains. Should the MACD and signal line diverge further, this would increase confidence in the uptrend. Even if gold consolidates instead of continuing to rally, the signal line above the zero line indicates a neutral-to-positive outlook. Considering that the 10-year U.S. Treasury yield is showing signs of peaking and pulling back, gold’s strong upward trend is worth monitoring closely. As numerous data releases are expected today, stay cautious and trade wisely.
■Trading Strategies for Today
NASDAQ - Range-bound Market
-Buy: 21325 / 21270 / 21190 / 21140
-Sell: 21440 / 21500 / 21550 / 21590
Crude Oil - Bullish Market (March futures)
-Buy: 78.10 / 77.50 / 76.90 / 76.30
-Sell: 79.70 / 80.10 / 80.80 / 81.30
Gold - Bullish Market
-Buy: 2717 / 2709 / 2700 / 2696 / 2690
-Sell: 2726 / 2732 / 2738 / 2745 / 2754
These strategies apply only during pre-market hours. Profit-taking and stop-loss levels are as follows: Nasdaq: 15 points, Oil and Gold: 20 ticks.
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CRUDE OIL TO HIT $160?! (UPDATE):Oil prices have now broken above the trendline that started forming back in September 2023! We've seen a strong bullish rejection from our green support zone + trendline breakout.
Currently up 850 PIPS (12% ROI) in profit from our support zone. Keep an eye out because rising Oil prices will create havoc in the markets!