We have a large descending channel, which appears to be forming a smaller ascending channel as part of a correction.
Once the correction is confirmed and completed, it could provide a good opportunity for a short position.
However, if the lower boundary isn't broken and the price moves higher, we’ll hold off and wait for a new structure to form.
Oil has been stuck in a prolonged range, and a breakout in either direction is becoming increasingly likely.
The overall trend remains bullish, as there’s been no confirmed trend reversal yet.
📌 Key Scenarios:
A break to the upside would signal continuation of the bullish trend.
A break below the range could confirm a potential trend reversal.
📈📉 To avoid...
If the euro is indeed set to weaken — as we anticipate based on the current signs of trend exhaustion — this could be a solid trigger for a short position.
However, if the breakout fails to confirm, it may turn out to be a fakeout, potentially leading to a bullish reversal instead
Gold has been stuck in a range for about 92 days, and recently, price action within the range has become increasingly compressed.
This tightening suggests that a breakout in either direction could lead to the beginning of a new long-term trend.
Trump came out with a fake piece of news to create some volatility for himself.
But the trend went back to its original path, and in my opinion, the downtrend will likely continue.
