chart has explained everything take note on the circle, it is the break out tho it's not strong, but it has done its job to prevent falling further. let see if this work, and if it changes to support from resistance trend line, 53.64 is the first resistance level to break in order to break further.
I saw a buy: 1. as you can see it is trying to break 4 times already, and it is yet to be broke. let's see if it can break it out at its 5th time, before breaking lower. 2. high highs appeared, market rejected the lower price and hence push to support level and above. 3. latest candle closed at 52.5 above, higher than support level.indicating the market...
As per the chart, it is unable to break the resistance, so only way is to south.
For those who are short biased, should be happy when they see such inverted curved shape from top to bottom. Good luck guys
107.45 is another major level to decide whether up or down. From the current point of view, bearish biased.
resistance met and got rejected, thus falling down. fundamentally, no-deal Brexit just got rejected, which is good news to GBP. wait for pullback and short it.
Now testing a decent support region, if sustaining 61.5-60.5 , a possible strong rebound might kick in next week towards 65-65.5 region. However, need to look into indices movement as well as most of them approaching crucial supports. If indices rebound next week, very likely we can see oil rebounding strongly as well. Vice versa.
As gold break both support and trend line shown in the chart, I am looking it to go south further until meet the next support line, which is 1446 level, if it did not go up and close at 1520 above tonight. Furthermore, Macd is crossing, signaling bearish coming in. here's the 3 scenarios will happen if: 1. Gold got strong support and push towards to 1520 and...
Testing resistance trendline, showing weakness as a bearish engulfing formed. Looking opportunity to short this pair for swing trading. All the best traders !
when the 4h chart close below 7782, then the H&S will formed and thus might rebounce to 7850 level, but not going to break it else the trend will change again. then we can enter at the rebounce and short it till the target green line.
oil is going to break all these levels easily sentiment is going to push the oil all the way up you can see a strong support on 53.9-54.5 level, and no lower low appears.
1474 as last support for the bullish on gold, let see if the market will close below 1474 or not. well at least it it can sustain on monday and tuesday. if it able to go 1545 and above, then no worries it is a super bull. this will depend on the Fed decision on Wednesday. Expecting no rate cut.
I have faith in oil, based on my technical analysis, and the sentiment now
let see the trend line could support it or not
Approaching collection zone, waiting for a valid reversal candle for the entry. So guys, make a guess, up or down ? :D
as long as 1.2275 is sustained, then the bull shouldn't be the problem USD will go weaker as trade wars and its yield curve issue. Trump will do everything to make the stock market goes well at least until 2020 in order to secure his position in the upcoming GE. He will make sure the USD go weaker so the indices and stock market look better