1M Chart (Monthly):
• Head and Shoulders: A potential bearish Head and Shoulders pattern is visible. The left shoulder forms near $94, the head at $110.59, and the right shoulder around $90.15.
• Fibonacci Retracement:
• 0.764 level at $94.40.
• 0.618 level at $84.39.
• 0.382 level at $68.20.
• Critical support lies near $58.19 (0.236 Fibonacci).
• RSI:...
1. Monthly Chart (12M Renko)
• Price: Currently trading at $42,282.90.
• Resistance:
• $46,219.80 (All-time high).
• Fibonacci 0.764 at $39,216.50, which acts as a support/resistance level.
• Support:
• $37,376.70 (0.702 Fib level).
• $31,382.40 (0.5 Fib level) represents a key support in case of a larger pullback.
• Outlook: A significant uptrend is...
Current Price: $69.29
Overall Bias: Neutral to Bearish (Short-term downside risk)
Key Observations:
1. 12-Month Chart (Long-Term):
• Price Action: WTI Crude is currently trading at $69.29, having retraced from a high of $98.59.
• Fibonacci Levels:
• The price is currently hovering around the 0.5 Fibonacci retracement at $73.80.
• 0.618 level (strong...
Overall Bias: Bearish with potential for a short-term bounce
Key Observations:
1. 1-Month Chart:
• Price Action: The long-term bearish trend is still intact. The price peaked at $9.177 and has since declined to the current level near $2.066.
• Support Levels: Major support is around $1.59. A break below could lead to a further drop.
• Resistance Levels: The...
Instrument: Brent Crude Oil (UKOIL)
Current Price: $73.66
Overall Bias: Bearish with the potential for a breakdown.
Key Observations:
1. 12-Month Chart:
• Pattern: The chart is forming a Head and Shoulders pattern, which is a classic reversal pattern suggesting a potential significant downturn.
• Neckline: The neckline is around the $73.67 level, which is...
