THEFOREXPROFIT

THEFOREXPROFIT May 12, 2023

Upon looking at the technical analysis of oil on a 1H time frame, it is clear that the index is following a descending triangle pattern. I believe the general trend will be a retest of the descending trendline for the second time after OPEC's decision to cut production. We observed the last drop in oil prices occurred after hitting the descending trendline...

THEFOREXPROFIT May 12, 2023

Looking at the technical analysis of Gold on a 1H time frame, it appears that the index is following an ascending triangle pattern. I believe the general direction will be towards hitting the 1950 -1930 levels to bring liquidity. Breaking these levels means breaking the upward channel, which would be extremely painful. A retest of the trend should occur. If the...

THEFOREXPROFIT May 12, 2023

A close look at the Dow Jones US30 index, as per the technical analysis on a 1-hour time frame, reveals that the index is currently following a descending triangle pattern and is now in a retest phase. If the levels of 33100 to 33030 are broken, we are gradually heading towards 31820-31740. However, if the index decides to retest the trend for the second time and...