Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
WTI Oil close to make a rebound around $48
2019-11-11 • Updated
WTI Oil has been bearish across the board, but in an overall picture it’s still riding a bullish structure since mid-July. Currently, it’s poised to test the Fibonacci demand zone established between the 47.91 and 47.16 levels (50% - 65%), where it could gather bullish momentum to resume the bulls’ path and if that happens, the next key target is placed at the 51.58 level, according to the Fibonacci retracement plotted in the H1 chart.
RSI indicator is at the oversold territory, strengthening the idea of a short-term rebound.
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Besides US Retail Sales data, Australian Unemployment Rate and New Zealand GDP this week will bring us Quadruple Witching – one of the four most important days of a year for futures and options!
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...