US oil prices are rising due to worries about the conflict in the Middle East getting worse. Tensions are keeping prices up, even though OPEC+ plans to increase oil supply soon. Oil is currently testing resistance at $75.15, with the next price targets at $77.20 and $78.45. Support levels for oil are at $74.00 and $71.00.
Silver (XAG/USD) is looking for direction near recent highs. precious metals supported by geopolitical concerns. Resistance at $32.30 is closing the path towards the $32.65 high. Supports at $31.40 and $30.95.
BOS means Break of Structure . It happens when the price of an asset (like a stock or currency) breaks past a key support or resistance level, indicating a potential change in the market direction. Key points: Uptrend BOS: If the price breaks above a recent high, it could mean the start of an upward trend. Downtrend BOS: If the price breaks below a recent...
a Change of Character (CHoCH) signals a potential shift in market dynamics, often indicating a reversal from the prevailing trend. This concept is particularly valuable as it helps traders discern when the momentum is shifting, offering a strategic point to consider adjusting their positions.
The Evening Star pattern is a technical analysis tool that signals an upward price momentum's reversal to bearish momentum. The pattern rarely appears, but it is considered a reliable bearish indicator. The Morning Star pattern is also a trend-reversal pattern, which is bullish and gives a buying signal.