Silver's recent upmove looks complete and the initial move down from 24.86 seems to be in 5 waves, indicating that the down move may have started. If the wave count is right, we are looking for the next downleg to make its path upto $18. At this level the 2nd ABC will be equal the 1st ABC from the Aug high. This is a normal target area. Risk level is the...
USOil Symmetrical triangle pattern breakout 15 mins TF
According to this chart, gold is further advance. Intraday traders can see 49860 - 50000 levels soon. We may see 50200 - 50400 in extension before the weekend. If gold breaks the support trendline, gold can collapse up to the trend diversion point (from 49560 to 49400 levels). Speculators can enjoy both rides. Once it breaks the support trendline, I...
USOIL Symmetrical triangle pattern formation at 30 mins TF
XAU/USD just hit a Daily Resistance zone. First Stop will be Last Weeks Support zone.
USOIL Descending triangle pattern formation at 30 mins tf
just an update that silver is at trend line plane according to it
USOIL Parallel channel formation in 1 hour TF
Gold took support from Daily 200 Day Moving Average BUY GOLD ABOVE 48700, Day Closing Above This Level Will Make View Solid, Strict SL - 47500 (DCB), Target - 50300/51000
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1842.0). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . Gold (XAUUSD) is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic...
USOIL Descending parallel channel in 15 mins TF
NSE:BPCL A beautiful pattern with healthy corrections, makes BPCL a low-risk buy at CMP. Targets mentioned. Check my previous update on BPCL down below for support on smaller time frame. Thank you!
USOil monthly chart on 06-12-2020
Midterm forecast: 43.75 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased. A trough is formed in daily chart at 40.20 on 11/13/2020, so more gains to resistance(s) 46.30, 48.70, 50.70 and more heights is...
Midterm forecast: While the price is above the support 21.90, resumption of uptrend is expected. We make sure when the resistance at 26.00 breaks. If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is...
Crude levels ...07/12/2020 (1hr candle)