Crude holds key support symmetryTiming relationship next week should prove critical Crude Oil - Medium-term Forces vs. Long-term Forces I have been touching upon a similar theme in most of my writings over the past couple of weeks. We are at a point in the markets where some pretty strong medium-term term trends have developed against opposing longer-term trends (copper, USD, stocks to name a few). Are we going to see the ...
Talking Points: AUD/USD Technical Strategy: FlatAussie hits 8-month high but RSI divergence warns of downturn aheadWaiting for technical confirmation, passage of event risk to enter short The Australian Dollar resumed the push upward against its US counterpart after brief one-day respite, rising to the strongest level in eight months. The emergence of negative RSI divergence warns of ebbing upside momentum however, hinting a ...
The price of WTI Crude Oil has moved close to the opening range high of 2016 at $38.36. Looking at the global counterpart to WTI Crude Oil of ICE Brent Crude, it is up ~10% on the year after hitting 12+ year lows in early February. Now, on the back of weakening US Dollar, the metals, and energy markets are overwhelmingly in the positive for the year with Gold up nearly 20%. Amazingly, the move higher in US Oil from 26.03 on February 11 ...
Daily price is on primary bearish market condition with the local uptrend as the secondary bear market rally: the price is breaking Senkou Span line (which is the virtual border between the ranging bearish and the primary bullish trend on the daily chart) for the bullish reversal to be started. The symmetric triangle pattern was crossed to above for the possible breakout, and Absolute Strength indicator is estimating the ranging condition to be continuing. ...
Daily price was crossed 200-day SMA/100-day SNA area for the bullish reversal with Fibo support at 0.6773 as the next target for the bullish trend to be continuing: "The New Zealand Dollar is attempting to renew upside momentum against its US namesake as prices broke upward to the highest level in nearly two months. The currency mounted a swift advance following an unexpectedly strong set of trade figures.""Near-term resistance is at 0.6746, the 50% Fibonacci expansion, ...
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