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WTI Crude Oil Outlook: Eyeing Potential Demand Zone RecoveryWTI crude oil is currently trading around $68.25 as of this Tuesday, following a significant gap-down opening to start the week. The move lower was largely influenced by easing tensions in the Middle East, as recent developments suggested a more contained military approach, which alleviated fears of a broader conflict that could disrupt oil supply. Upcoming U.S. Economic Data: GDP and Nonfarm Payrolls in Focus The U.S. economic calendar this week includes key data releases, beginning with the flash Gross Domestic Product (GDP) report for Q3 on Wednesday, projected to show an annualized growth rate of around 3%. A stronger-than-expected GDP figure could bolster the USD, adding pressure to USD-denominated assets like crude oil, as a stronger dollar makes oil more expensive for holders of other currencies. Following the GDP report, Friday’s Nonfarm Payrolls will provide additional insight into U.S. labor market conditions, which could further influence dollar strength and, subsequently, WTI prices. Technical Analysis: WTI Trading in Demand Zone From a technical perspective, WTI crude is currently positioned within a demand zone, where buyers could be eyeing a recovery of Monday's gap-down. This demand zone represents a critical area where traders are observing whether buying interest will drive prices higher to close the gap. A recovery attempt here, with a tight stop loss, could offer a favorable risk-to-reward setup, particularly if data later in the week doesn’t significantly strengthen the USD. Conclusion The WTI crude oil market remains vulnerable to geopolitical developments and U.S. economic data this week, with a stronger USD potentially capping any recovery attempts. However, should the upcoming data align with current estimates or underperform, there may be room for WTI to rally from its demand zone, attempting to reclaim some of the lost ground from the recent gap-down. Traders may want to monitor these key levels and events closely, as they could provide both direction and confirmation for near-term price movement in WTI crude oil. ✅ Please share your thoughts about WTI in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
BLACKBULL:WTILong
by FOREXN1
1
THE KOG REPORT - UpdateEnd of day update from us here at KOG: We wanted price to reject the high and give us the short into the red box defence during the early session levels 2730-35. We did get that move but it was achieved via the gap on open giving traders a couple of opportunities to take the long trade from the level following the path. We're yet to complete the first bullish target but we're on our way so we'll stick with the plan! Based on the structure and range at the moment we're not discounting another dip into the low but will look for pull backs into the 2735 region to hold to continue the move upside. Support 2735, resistance 2750 could give a reaction for the short scalp. Keep an eye on the red boxes, pinned below, they're working really well. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
Cardano (ADA): Looking For Another Fill of CMECardano has nicely filled the previous CME, which we caught in a 1-hour timeframe. Now we are looking again at the ADA coin, where we see another CME has formed. With that being said, we are looking for this CME to be filled one way or another. Ideally we should see a claim of the upper FVG zone, from where we should see the dominance of sellers and a further movement to the lower zones, but if we fail to break from 200EMA, we will see an early claim of CME! Swallow Team
by SwallowPremium
2
Lingrid | NZDCAD bearish MOMENTUM in the MarketThe price perfectly fulfilled my previous idea. It reached the target zone. FX:NZDCAD is currently making lower lows and lower closes, indicating a strong bearish momentum. The price has been oscillating around the psychological level of 0.8300. Typically, markets tend to consolidate near key levels before a breakout, and given the overall bearish trend, it seems plausible that we could see a bearish impulse leg. I anticipate that the market may break below the previous day's low (PDL) and continue its movement downward, making further lower lows. If the price breaks convincingly below the PDL level, that could confirm the bearish sentiment and potentially lead to an acceleration in the downward trend. My goal is support zone around 0.82550 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
4
AUDCAD - 4hrs ( Sell Trade target Range 100 PIP ) 🟢 Pair Name :AUD/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money 🟢 Key Technical / Direction ( Short ) Bearish Type : Mid Term Swing ——————————— Bearish Break 0.91450 Area Reasons - Major Turn level / D - Visible Range hvn - Inner Trend - Major Channel Middle Band - Day Low break - Week low Break Bullish Reversal 0.90000 Area Reasons - Major Turn level - Visible Range Hvn / Poc - Week low Area / P - Pattern Target - Fibo Golden
Short
by GoldenEngine
1
GME GameStop - Short Squeeze in the Making!If you haven`t bought GME before the previous breakout: Now you need to know that GameStop (GME) is creating a buzz in the options market, especially as it gears up for an exciting week ahead! After experiencing an astronomical increase of over 121X in less than four months in the past, GME has captured the attention of traders and investors alike. This dramatic surge in price has raised speculation about the potential for another gamma squeeze, reminiscent of the impressive rallies seen in the past. With calls at the $125 strike price set to expire on January 17, 2025, there's palpable optimism in the air! The notable volume of these calls suggests that investors are positioning themselves for a significant move. Traders are eager to capitalize on the momentum that GME has built, especially with historical patterns indicating that such surges often lead to increased volatility and price spikes. The options chain for this Friday looks extremely bullish, with an uptick in activity signaling strong demand for GME calls. The convergence of high open interest and the upcoming expiration date has the potential to ignite a new wave of buying pressure, further fueling the chances of a gamma squeeze. As more traders enter the market, the cascading effects of rising call prices could push the underlying stock higher, benefiting those who are well-positioned in the options market!
NYSE:GMELong
by TopgOptions
Stand StillHey guys and girls, Here is an updated chart from my (Feb 29, 2024) post. Sometimes I add a bit to what I have thought. let's do some math here: Technical Section: minute: Wave 4 = 50% of wave 3 ($ 49k) that was the end of it Wave 3 is greater than 161.8% of wave 1 ----> Wave 5 = 261.8 % of wave 1 ----> Target = $ 89528 minor: Wave C = 123.6% of wave A ----> Target = $ 92115 Conclusion: There is only one possibility for the long-term outlook. BTC is about to go vertical! Appendix: Stand pat! (Feb 29, 2024) Dec 28, 2022 (This is what I am basing mine on for the bull market!)
KRAKEN:BTCUSDLong
by BTC-XLM
17
GBPCAD Eyes a Strong Rebound from Key Support ZoneThe GBPCAD pair has recently broken through a significant resistance level and pierced a longstanding downward trendline, suggesting the beginning of a bullish trend shift. This breakout is a strong technical signal that hints at a potential shift in market sentiment, favoring the buyers. Observing price action on the daily timeframe, there’s a clear pattern of higher highs and higher lows—indicating persistent buying strength and steady momentum that continues to build with each new high. What’s particularly noteworthy is how the price approaches the psychologically important level of 1.8000. This round number often serves as a critical juncture for price action, as it tests both the conviction of the bulls and the resilience of the bears. Given the current upward momentum, this level could soon be surpassed, allowing the pair to break further into bullish territory. A retest of the recently broken resistance zone would further validate this bullish move, establishing the 1.8000 mark as a new support level that can launch further upward advances. Looking forward, my target lies around the resistance zone at 1.8070, where the next substantial price ceiling resides. This target aligns well with the bullish continuation patterns observed, as GBPCAD appears poised for sustained gains. Should this upward movement continue with strong support from market participants, we may see a definitive move toward the 1.8070 resistance, solidifying a broader trend reversal and setting the stage for potential long-term gains. In this bullish landscape, each new high reinforces a prevailing buyer-driven sentiment, making the breakout and retest scenario even more compelling.
Long
by lonelyPlayer0
3
Solana - We Will See A New All Time High!Solana ( CRYPTO:SOLUSD ) is preparing for an all time high breakout: Click chart above to see the detailed analysis👆🏻 After dropping -95% in 2022, Solana then rallied an incredible +2.000% and retested the previous all time high. Then we saw a quite long term but tight consolidation and just two months ago, Solana retested the lower support again. It is just a matter of time until we will see a breakout. Levels to watch: $120, $210 Keep your long term vision, Philip (BasicTrading)
CRYPTO:SOLUSDLong
by basictradingtv
5
The upcoming period may be a bit painful.First of all, I should state that I expect Bitcoin dominance to rise to the 60%-62% range and Bitcoin usually falls in september. If Bitcoin will fall and at the same time its dominance will rise that's means we may see a strong downtrend in altcoins. Ethereum has completed its Elliot 5 wave pattern from the bottom and and still in the correction waves. And I think a second wave Elliott correction is needed in the longer term uptrend. Afterwards, I think 2025 could be a very good year the market and there might be a chance to sell at good prices in 2026. * What i share here is not an investment advice. Please do your own research before investing in any digital asset. * Never take my personal opinions as investment advice, you may lose all your money.
by traderisso
1