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Brent oil buyers need to defend $70.30 breakout to aim for $72.0Brent oil holds onto a weekly uptrend despite the previous day’s pullback moves. The British oil benchmark keeps the upside break of double-tops marked in May amid bullish MACD. As a result, the commodity buyers should stay hopeful to refresh the multi-month top, marked the previous day around $71.50. However, the following run-up needs validation from $72.30 comprising an early 2020 high. On the contrary, a confluence of May’s double-tops and a short-term support line near $70.30, followed by the $70.00 threshold, restrict the immediate downside of the black gold. In a case where the quote drops below $70.00, 100-SMA near $68.50 adds to the downside filters ahead of confirming a bearish trajectory towards the mid-May bottom surrounding $66.70.
TVC:UKOILLong
by MTradingGlobal
Bitcoin | Multiple Timeframes (1H, 4H, Daily & Weekly)We've been waiting for Bitcoin to move up since we saw Ethereum going ahead... We feel confident that it will follow and also hit a new All-Time High. The chart is once more starting to look good. We will focus on the signals... Bitcoin Daily (D) Timeframe (BTCUSD) We start with the daily timeframe, here is the chart: First, we can notice prices moving above EMA10, EMA21, and EMA50. EMA50 is a strong one now sitting at $54915+. Bitcoin trading above this level is strongly bullish. Below signals bearish. Daily candle closure above this level is needed for confirmation. The RSI is strong above 50 and we have a bullish cross on the MACD. All the classic signals in place but some still developing. We also have a falling wedge and an inverse Head & Shoulders pattern, all these points higher. Bitcoin 4H Timeframe On this timeframe, 4 hours per candle, we can see BTCUSD moving above all of the EMAs. MA200 is the black line. We are strongly bullish above this level. This also happened after a higher low with bullish indicators, the signals are telling us that we should see GREEN. Bitcoin 1H Timeframe Finally, the 1H timeframe, here we can see the pattern that is pointing to straight up. Bitcoin Weekly (W) Timeframe We can see BTCUSD moving back above EMA10. The weekly timeframe closes in just 2 days. Closing bullish would mean that we had very little to no retrace. Now, when prices start moving higher... What's your target? I am now aiming at $80,000 followed by $100,00K What Do You See For Bitcoin's Future? We see bullish Bitcoin in 2021 and beyond. We are seeing bullish long-term longer than most people expect. Things will not be what they feel like. Things will look and feel bad in some ways but turning good in the core. The good will bloom and shine. Cryptocurrency will help us level out the upcoming financial disaster that the conventional markets will be facing. Leave us a comment with your views, thoughts, and opinions on this. I love you now, forever & always. Thanks a lot for your continued support. This is Alan Masters. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
JSW Steel Extended 3rd and 5th Waves and Channel ResistanceStock has spectacular rally after March 2020 lows due to extended 3rd and 5th Waves. The channel has been drawn between mar 2020 lows and previous all time high. Now V of 5th is ending diagonal and Negative divergence seen on MACD. Break of lower channel line of ending diagonal would confirm downside which is expected to go 0.618 or more. Alternative to this analysis If stock moves past 460 it can head towards next Fibonacci extension points 485/524 DISCLAIMER:There is no guarantee of profits nor exceptions from losses. Technical analysis provided on the chart is solely the personal views of my research. You are advised to rely on your own judgments while taking any investing/Trading decisions. Past performance is not an indicator of future returns. Investment/trading is subject to market risks. Seek help of your financial advisors before investing/trading. Not recommended to take FnO positions based on this analysis I may or may not trade this analysis. Details in description. -------(((((Please 50 LIKES)))))-------
NSE:JSWSTEEL
by Niftydirection
Nifty Downside till 13000-13200 levels.Pattern formed overtime from March 2020 to January 2021. Support of 13750 on the lines have been breached. Now nifty is open to go down till 13000-13200. However, If 13800 on the upside is breached, then we can can see a rally till 14500. After that 15000 levels will be on the cards but lets restrict ourselves till 14500 for the time being. Markets are extremely oversold on RSI and MACD. Hence buying every dip will be a good option till February end. Long Term Bullishness is still intact. *(No Purchase/Sell Advice. Only for Educational/Data Sharing Purposes)
NSE:NIFTY
by pranjalprasun
GBPUSD bulls eye another confrontation with 1.3618/24 hurdle Despite recently easing from 1.3575, GBPUSD stays above a one-week-old ascending trend line amid bullish MACD. On the fundamental side, the passage of the Brexit deal and US coronavirus (COVID-19) stimulus also favor the Cable buyers. Though, a downward sloping trend line from December 17, currently around 1.3620, becomes necessary for the GBPUSD bulls to keep the reins. Following that, September 2017 peak close to 1.3660 and March 2018 low near 1.3710 will be in the spotlight. If consolidation moves break the immediate support line, at 1.3555, 200-SMA near 1.3350 and the monthly bottom close to 1.3190/85 could lure the GBPUSD sellers. However, the December 21 top around 1.3500 and last Tuesday’s low of 1.3303 can offer intermediate halts during the downside. To sum it all, GBPUSD may witness pullback in the short-term but the overall outlook remains bullish.
Long
by MTradingGlobal