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USOIL Will Move Higher! Buy! Please, check our technical outlook for USOIL. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 70.05. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 72.85 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
TVC:USOILLong
by SignalProvider
1
GOLD (XAUUSD): Important Zone to WatchThe Federal Reserve's rate decision and FOMC meeting negatively impacted gold prices yesterday, leading to a bearish trend. Observing the 4-hour time frame, we can see how the pair responded to a downward trend line during the day. The market had been consolidating within a broad range for nearly a month. However, following the Fed's announcement yesterday, there was a significant downward movement that confirmed a break below the support level of this range. With the broken structure and a prominent downward trend line now defining the supply zone, we can expect further bearish movement, potentially reaching down to 2580.
TVC:GOLDShort
by linofx1
4
### Technical Analysis: Gold One-Day Swing Trade Idea 19/12/2024*Market Overview:* Gold is currently exhibiting a bearish sentiment, with recent price action closing below the daily chart's 20-period simple moving average (SMA). This technical setup indicates that sellers dominate the market, and we are positioned to capitalise on potential further downward movements. *Key Technical Levels:* 1. *Bearish Scenario:* - *Current Price Action:* As the price remains below the 20-period SMA, we look for a potential downside break from the established triangle pattern. This breakout could signal a continuation of the bearish trend. - *Targets:* - *First Target:* *2535* – This level aligns with the anticipated wave C completion in the ongoing corrective wave structure. - *Second Target:* *2485* – A deeper price retracement could further validate the wave C scenario. - *Wave 3 Consideration:* Should gold decline below the 2350 area, we may enter wave 3, suggesting strong momentum for continued bearish movement. This could imply a rapid downward trend and provide a solid trading opportunity. 2. *Bullish Scenario:* - *Resistance Levels:* - *20-Period SMA:* a daily close above this moving average could indicate a shift in market sentiment, signalling caution for bearish positions. - *Breakout Level:* If the price breaks above *2666*, it would suggest a potential bullish reversal. This level must be carefully analyzed for trading decisions. - *Upside Targets:* - *First Target:* *2716* - *Ultimate Target:* *2850* – A close above 2721 may propel gold toward new all-time highs. *Trading Strategy:* - *Shorting Opportunities:* Focus on initiating short positions around *2652* or *2613*. These levels coincide with the anticipated price retracement areas within the bearish framework. - *Monitoring Key Levels:* Closely watch for price interaction with the 20-period SMA and the upper boundaries of the triangle pattern. Any decisive movement above these will require a reassessment of bearish positions. *Risk Management:* Consider utilizing stop-loss orders just above the 20-period SMA or the breakout level. *Conclusion:* The current bearish trend in gold, reinforced by the daily close below the 20-period SMA, suggests promising short-term trading opportunities. Should the price break down from the triangle pattern, we may see targets around *2535* and *2485. Conversely, a beyond **2666* could signal a strong bullish reversal, urging caution for existing short positions. Traders should remain alert and ready to adapt strategies based on these levels and market movements. *Disclaimer:* This analysis is intended for informational purposes. Research or consult with a financial advisor before making any trading decisions. Safe trading, everyone!
OANDA:XAUUSDShort
by SRFXGlobal
XAU/USD - Gold Long trades"After yesterday's sharp decline in XAUUSD, the market is showing signs of stabilization, creating potential opportunities for long trades. Key support levels have held firm, suggesting bullish momentum could resume as buyers step in. We must closely monitor price action for confirmation, targeting a potential recovery towards key resistance zones. As always, proper risk management is essential. Let's see how this plays out!" The bullish side breakout of 200 EMA in the 15-minute and 5-minute charts can be a good sign of a market uptrend. Entry 1st zone - 2630-2640 Entry 2nd zone - 2673-2683 Entry 3rd zone - 2726-2736
OANDA:XAUUSDLong
by Harkaran_Singh_Karan
WTI OIL entered a new bullish pattern on a 4H Golden Cross.WTI Oil (USOIL) just formed a Golden Cross on the 4H time-frame while at the same time it rebounded on the former Lower Highs trend-line. This technical shift from a Resistance level turning Support, signifies the emergence of a new Channel Up pattern. The pattern's first Higher High was priced on the 71.45 Resistance (1) and if the current Higher Low holds at the bottom of the Channel Up, we expect an equally powerful Bullish Leg for the next Higher High. As a result we expect it to hit at least Resistance 2 and our Target is $72.80. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
Closing both of orders with excellent ProfitAs discussed throughout my yesterday's session pre-Fed commentary: "Fundamental analysis: My earlier Selling signal was confirmed on Hourly 4 chart under prolonged weakness and Price-action respecting the trendline guarding the downtrend (very Bearish formation) as Hourly 1 chart is already an aggressive Descending Channel (width opened on Williams) that should reach it’s next Lower High’s (currently Trading slightly below Triple Top's formation) and Oversold state near my take Profit of #2,627.80 Support in extension. If the bands are widened Traders may witness #2,622.80 pivot point test on the correction back down after current upside extension but not Lower. In any case I will update my Targets or levels of Profit taking if I decide to exit earlier than #2,622.80 Support in extension to be in accordance with the Daily chart’s period. My position: #2,648.80 was excellent re-Sell point and regarding Fed Rate decision, I expect Rate to be Lowered and hawkish stance on the aftermath which can make Gold suffer even more." I have closed my both #2,648.80 and #2,638.80 orders, first one on #2,633.80 and second one (#2,638.80 entry point) on #2,600.80 benchmark. My Fed Rate decision expectations were spot on as I guessed nicely that Rate will be Lowered and hawkish stance on the aftermath. Technical analysis: As Gold rebounded back towards well known Hourly 4 chart’s Neutral Rectangle once again within Symmetrical Triangle forming on Daily chart, this is very cautious market at the moment. Yet again, I see no firm reasons for current Buying bias on Gold to be sustainable, as #2,648.80 - #2,652.80 Resistance zone should price in local Top’s and reversal area (optimal re-Sell zone). After observing Gold’s Price-action near market closing (first similar closing since May #15), do not expect much from today’s session as long as DX isn't pressured by disappointing numbers. My position: I will await for area to be engulfed and only then make my move. Yesterday's session Profits were great edition to previous week's Profits as I don't have any urge to rush and engage any kind of order however will monitor the Price-action patiently until opportunity arise. I expect Gold to remain pressured.
OANDA:XAUUSDShort
by goldenBear88
2