USOIL BULLS ARE STRONG HERE|LONG
Hello, Friends!
It makes sense for us to go long on USOIL right now from the support line below with the target of 71.76 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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LONG
GOLD and Silver Futures OUTLOOK for the week of Oct. 28, 2024Coming into this week we can see both Gold and Silver are trading away from bullish imbalances, also forming SMT's off those imbalances. We also see that both commodities have CISD's coming off the same lows. In my opinion Gold is showing relative strength, given the fact that it has a failure swing at the lows, while the contrary for Silver. My focus will be towards gold being the stronger pair to long in this scenario. Looking forward to a productive week. Bless.
BTC - a last dip before new ATH ?The chart is in 3H cause couldn't zoom out more with lower timeframes :((
Pattern recognition at its best
since the low of the 10 October, the price action is an extremely exact copy paste of march/April ATH :
- A significant top, ATH for the first pattern and 3 months high for last week
- first take profits, to 200MA 4H for the first pattern, to 100 MA 4H, 4 days ago
- 2nd wave and 3rd wave higher than the second (almost hit ATH), the second wave has been made and BTC will probably make the third tomorrow
in April this followed a correction. The pattern was bigger in April in % price and in time, so we should see shorter waves and lower price movements now.
The conditions for this to continue as the last time and to see the last dip is to have a 3rd wave going around 69K :
- if we break above 69k the pattern get invalidated
- if we stay to long time above .618 fib extension at 66K3 the pattern get invalidated
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Careful don't mind me, I'm neutral on this idea, and will not do anything before seeing a clear path. What changes now from April is that the halving was priced in way before so I'm seeing also lot of reasons why prices could just go above 69k and fly from now
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Last but not least, BTC is for the moment following the orange path from my precedent idea, putting my target for fall 2025 at 240K, but this can change a lot
Good Luck
Cheers
US30USD Will Go Higher From Support! Long!
Here is our detailed technical review for US30USD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 42,119.2.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 42,845.4 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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USOIL Will Go Higher! Buy!
Please, check our technical outlook for USOIL.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 71.62.
Taking into consideration the structure & trend analysis, I believe that the market will reach 73.20 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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NZDJPY Will Move Higher! Long!
Take a look at our analysis for NZDJPY.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 90.965.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 92.269 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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NZDCHF Set To Grow! BUY!
My dear friends,
My technical analysis for NZDCHF is below:
The market is trading on 0.5199 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.5217
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
SPX500USD Is Bullish! Buy!
Please, check our technical outlook for SPX500USD.
Time Frame: 8h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 5,836.4.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 5,891.1 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPUSD Will Grow! Buy!
Please, check our technical outlook for GBPUSD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.298.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.306 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
AUD/USD SENDS CLEAR BULLISH SIGNALS|LONG
Hello, Friends!
AUD/USD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 17H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 0.674 area.
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NZD/USD BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
We are going long on the NZD/USD with the target of 0.610 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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USD/CAD BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
It makes sense for us to go long on USD/CAD right now from the support line below with the target of 1.384 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band.
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Silver (XAGUSD): Anticipating a correction after new local highsTwo out of our three Silver positions remain active, with Silver reaching a remarkable high near $35. Today, we decided to fully close our second position, locking in substantial gains. The first position, initiated at $26.30, will remain open with a stop loss placed slightly below $26, aligning with the high-timeframe support and wave 1 level.
Given current analysis, a correction in Silver may be on the horizon after reaching the minimum target for wave 3. With increased Treasury yields and some profit-taking, Silver could face resistance in climbing further, especially considering the upward trend in yields.
While we cannot predict the exact speed of this potential downturn, if it unfolds as expected, we’ll look to re-enter with Silver certificates around the $30 to $28.30 range. The ideal correction would see a pullback toward the volume range high and a subsequent bounce within the 61.8%-78.6% Fibonacci zone, which we’ll confirm once wave ((a)) is established. Stay patient and focused, as volatility is expected to rise with the upcoming presidential elections.