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Rangingmarket

BRENT OIL price rangesOil prices have been rising since the end of December, rebounding as high as $75 (April 24) from the lows of $50. We can see the 50 and 200-day SMAs around the same area of $69. This area of $69-$70 can be considered as a strong support level and potential rebound point as long as there is no major news in regards to a globally slowing economy. Neutral outlook for now, with a possible tight range of a few dollar in the next couple of weeks, mainly between $69 and $72. Fundamentals that can have a big impact on this range and break it below or above: The Saudis announced that they will increase their supply to Asia which is seen as a counter-measure to compensate for the Iranian market losses. A sensible question would be if the OPEC will loosen up the production restrictions due to the oil supply issues coming from both Iran and Venezuela. Crude Oil stock changes, USA production as well as trade deal developments should also be monitored. To conclude, in case we see a break of the $70 level, the next point of interest would be $67 and then $65 which is the 100-day SMA. On the upside, $75 would be a strong resistance should $72 is broken decisively.
FX_IDC:USDBRO
by InvestmentPros
GBPCHF educationalHi traders, I will show you in this analysis how to trade ranging markets before the break out. After a long time of consolidating we will see a break ot, but how we can trade this and how we find the right setup. First draw the triangle an the boarder lines of the range. The border line of the range are the entry points for your stop orders, the opposite range line from your entry point is your stop. Your target on a long trade is the next resistance and on a short trade the next support line. So you must not watch all the time the charts. Risk management is the key to forex. Your Stefan Forex
by StefanForex
1
NZDUSD Neutral Move (RANGING)NZDUSD ------------------------------------------------------------------------------------------------------------------------------ Price has been in a 3 month range and there should be hopefully a decision by buyers or sellers as to what will happen. Last week sell-off showed strong bearish pressure within this range and a further decline should really see how NZD economy progresses overall as global economies are weakening currently. Now a common fallacy, retail traders have is that when price retests a level with many touches, the level is weakening, this is untrue. What really is happening is, sellers are getting more sell orders in as the first time the sell-off happened, not enough orders were completed or wanting to get in more orders before moving lower. From the 4hr channel, we see price respecting both outer boundaries and stays within the Weekly range. One would think that a big move is imminent, keep watch and see. I would wait at this point to see what happens next.
by ricky1270