bitcoin is on a parabolic run, this is the kinda trend where you don't wanna guess the top, btc has a habit of exceeding expectations, on the 4hr it hasn't touched the green band in 35 days! & is up 40% since last time it did. Same enthusiasm can be seen on the 1min chart. Anything is possible.
Hello colleagues. Double top pattern for oil. If price will break through the nearest resistance zone by Wednesday next week, then the target for oil is 36. but I advise using trailing stop loss as oil goes oversold and the countries of OPEC may announce additional cuts to normalize the situation. Fundamentally the previous growth was associated with hurricane...
Midterm forecast:
41.70 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 41.70 is broken.
Technical analysis:
The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
A peak is formed in daily chart at 43.65 on 10/15/2020, so more losses to...
First, let's talk about the previous update of crude oil. There, I have drawn the symmetrical triangle bearish pattern on the hourly chart of MCX's crude oil.
I had written for the day traders, " ...the last expected stop is at E. So, we may see crude oil at/below 2840 – 2820 level ".
THESE TARGETS HAS REACHED.
And for the short-term traders, I had...
Midterm forecast:
While the price is below the resistance 2075.05, beginning of downtrend is expected.
We make sure when the support at 1790.00 breaks.
If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 57 is not broken, the probability of price increase...
The downside break in prices is a possible opening for the re-entry on the downside. Watch for the risk level to hold. If prices do not re-enter back into the channel in the coming few hours, the downmove should sustain
