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Oil still going up ? 1W analysis Hello everyone , as we all know the market action discounts everything :) The WTI/USD closed at 74.64 last week dropping from 75.28 but the market is showing great strength , and the bears trying to stay in control . The market seems to be moving in an upward channel between the range of 83 and 63 with no breakouts yet . no signs of a reversal pattern yet . for the daily basis seems like the price might drop a bit , but on a weekly chart the data is telling us that the market seems to be getting some momentum , where indicators are telling us the movement is still bullish , lets check that data : 1_Market price trending above then 10MA , 20MA and the EMA (bullish sign). 2_RSI at 71.31 sitting in overbought zone and showing great strength in the market (bullish sign). 3_MACD creating a positive crossover with the market price (bullish sign). Support & Resistance points : support Resistance 1_71.43 1_77.66 2_68.07 2_80.53 3_65.20 3_83.89 Fundamental point of view : Margaret Yang stated that : Crude oil prices pulled back slightly during Monday’s APAC mid-day session after rising 3.5% over the last two days. The emergence of the Delta variant of Covid-19 is threatening a new round of lockdowns around the world, casting a shadow over the outlook for energy demand. A stronger US Dollar also weighed on commodity prices. "Meanwhile, unresolved deadlock between Saudi Arabia and the United Arab Emirates (UAE) remains a wildcard in the oil market. Traders are worried that escalated disputes may reignite a price war among OPEC+ members and hammer oil prices. On the other hand, a resolution may lend support for prices to aim at higher levels. This is because the planned 400k bpd production hike marks only a small fraction of an estimated global supply shortfall of 3 million bpd by the end of this year." Oil and gas production is becoming a tedious business, like coal mining or nuclear power, after the hype of previous years. Weekly data shows an increase in drilling activity in the US oil and gas sector. However, new rigs are only enough to maintain production at 11m BPD since last September, after the peak in March 2020 above 13m b/d. Even two-year highs in prices and extremely favourable financial conditions on the markets do not inspire active expansion. Without the US as a contender for market share, the main balancing force is the OPEC cartel, whose overall policy is well within the new "standards" of boring oil producers: high dividends and slow-growing supply. If the production boom is behind us, we should expect a price boom along with a demand boom. Make sure to Follow and Like for more content This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view , not financial advice. If you have any questions please ask Thank you for reading.
FX_IDC:USDWTILong
by GabiDahduh
How Bitcoin will move in the coming weeks (Update)As I said in the previous post, I believe that Bitcoin needs to touch the $ 38,000 to $ 40 ,000 price range once again to continue its rise. Disclaimer! The content of this post is for educational purposes only and is not a buy or sale offer in any way. You can use its information to prepare your trading plan. But you have to do your own research. Trading is risky and requires experience and is not suitable for everyone. Only you can be responsible for your trading.
BITSTAMP:BTCUSD
by GIM-Traders
2
How Bitcoin will move in the coming weeksBitcoin price correction has been inevitable and predictable in recent weeks. I believe that Bitcoin needs to touch the $ 38,000 to $ 40,000 price range once again to continue its rise. Disclaimer! The content of this post is for educational purposes only and is not a buy or sale offer in any way. You can use its information to prepare your trading plan. But you have to do your own research. Trading is risky and requires experience and is not suitable for everyone. Only you can be responsible for your trading.
BITSTAMP:BTCUSD
by GIM-Traders
Short term recovery for DXY and the Dollar? Yesterday we saw Fed Chairman Jerome Powell speak rather dovish on the economic outlook and the position of the fed. Off the back of these comments, we saw the DXY climb above previous structure highs with momentum growing to the upside and breaking the 2021 highs. Currently, DXY has broken the high but will need to close and remain above to confirm the dollar strengths. We need to consider that the US economy is slowly starting to show signs of life again with vaccinations on the rise, more accessibility should see a boom. Predicting that the US economy will see signs of life in the 3rd or 4th quarter when interest rates may change.
TVC:DXY
by Youza
1
Cardano / TetherUS For Long-term and Swing TradesHI here we have ADAUSDT analyzed using complete Price Action method where its key levels lies on the Key Fibonacci projection levels where absolutes support and resistances are specified. as we can see currently the price has reached the extension zone of our Fibonacci projection level of 161.8% which is a very powerful sign of trend continuation and the next target can be 261.8% and ultimately 361.8%... we have zones and a projection time slabs where approximately we are expecting the market to reach by then. please comment your opinions
Long
by BitonGroup
2
EUR/USD - Ready for Strong correction or Trend Reversal ?Hello Traders, I pointed out a time cycle zone (two vertical lines) on the chart which shows a good time for starting a strong correction or reversal. I expect that Reversal lasts at least 10 to 12 candles. What do you think ? Make sure to Like and follow so you will receive notification of analysis update in a real time. Good luck P.S. Note that this analysis is my opinion and might be wrong. It is not a trading advice.
Short
by P_T_C
Time to go Long on USD/CAD?Fintech focus for November, 16, 2020 Fintech movers : The most well funded US fintech startup is SoFi, with $2.5 billion in disclosed equity funding. San Francisco-based personal personal finance platform offers an array with financial products, from an investment platform to home loans to student loan refunding. Donald Trump accepts defeat! Trump tweeted on sunday the 15th of November, that Biden won because the election was Rigged. It has been more than a week since major media platforms projected victory for the former vice president.
by shadowtrend
VIX: Nuetral leaning Long Over all weakening support for the broader markets, aside from media frenzied pharma and the NASDAQ's push behind earnings likely to see some sell off today. Directional movement showing bearish indications, will watch supports and resistances closely today along with charted trend lines on the cube. Initial overlay on 30d/3Hr analysis. Starting to see more volatility support as fear and uncertainty enter the space again. Watching 2y, 10y Bonds, copper, crude as well as rough rice as indicators for bearish plays. Expecting some reversal on precious metals primarily gold, may be a good time to pick up some short positions over the next 2-3 days.
TVC:VIX
by foxtech