CRUDE Oil Potential MovementsCRUDE oil has potential creating new high but it could be retest for a momment at $103 first.
Commodity
Gold Bullish Momentum!Last week I posted on Gold and highlighted the fake breakout of the September 2011
high at $1920. Despite February’s candle forming a fake breakout of this level,
we see strong moves above it again.
Price could end up closing below $1920 by the end of the month, but the buyers do
appear strong for now. When Gold trends, it usually lasts for months and years.
Before a trend can begin, however, we need to see a breakout of the consolidation high,
which is also the all-time high at $2075, and that was formed in August 2020.
With a strong bullish candle in February and another one so far for March, the momentum
could be building up to create new all-time highs. Gold is definitely on our watchlist.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
$USWS - A Cleaner Way To FrackAnother oil play. With a slightly greener way to frack in the spotlight.
U.S. Well Services, LLC, provides high-pressure, hydraulic fracturing services in unconventional oil and natural gas basins. Both our conventional (diesel) and Clean Fleet® (electric) hydraulic fracturing fleets are among the most reliable and highest performing fleets in the industry, with the capability to meet the most demanding pressure and pump rate requirements in the industry.
Considering the Russin oil embargo, this company should receive positive gains from companies needing equipment to frack heading forward. They also have a cleaner model that may be attractive to drillers.
The company cut a new deal as recently as a week ago. "Olympus Energy, U.S. Well Services finalize electric frac contract"
"“At Olympus, we actively seek out opportunities for improvement. The commitment to USWS’s Clean Fleet technology is a prime example of the team’s continuous efforts to reduce our environmental footprint, increase operational efficiency, and lessen any potential short-term impacts for the communities where we operate,” Mike Wahl, Olympus senior vice president and COO, said. “We’re proud to announce this partnership with USWS and to leverage their leading technology into our 2022 development program.”
The fact that USWS has moved toward a cleaner model will be attractive to investors in these drilling and fracking companies.
CORN Bullish Mid-Long Tern Outlook
Hello traders:
CORN has been moving up steadily since the late 2020, continue to impulse up and correct.
We now see a larger, higher time frame descending correction that has been consolidate for about 5 months
Latest development shows us a lower time frame double bottoms, and price has some LTF bullish price action.
Be on the look out for bullish continuation price action to form, and look for completion of the correction for the buys.
thank you
Ascending Triangle Setup on Silver, Target at 25.40Trend Analysis
The main view of this trade idea is on the 15-Min Chart.
Silver (XAGUSD) appears to be in an ascending triangle setup with the support trendline being created from the higher lows of 23.85 and 24.25. The resistance line of the setup is seen around 24.65. Completion of this target is projected to be at 25.40. A breakdown of the setup will be known if Silver falls below 24.20.
Technical Indicators
The technical indicators are displaying bullish signs for the commodity. The metal is currently trading above its long term moving average (200-SMA). Also, the Awesome Oscillator (AO) is green and trading above 0. The RSI indicates bullish price movement as well, with its level above 50.
Recommendation
The recommendation will be to go long at market, with a stop loss at 24.20 and a target of 25.40. This produces a risk/reward ratio of 1.64.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to XAGUSD.
XAUUSD ,Will the bulls continues its run on March beginning ?Gold against Dollar pair were dominated by bullish price action due to fundamental reasons, it touched the resistance at 1975 and comes back to 1889 down
and formed a bearish pin bar in Weekly chart,
At March begins , price may retrace upwards 1915 zone and expected comes down near 1840 zone
or if the price breaks down the support, it may goes down further
Analysis only for education purpose
XAUUSD ,Will the bulls continues its run on March beginning ?Gold against Dollar pair were dominated by bullish price action due to fundamental reasons, it touched the resistance at 1975 and comes back to 1889 down and formed a bearish pin bar in Weekly chart,
At March begins , price may retrace upwards 1915 zone and expected comes down near 1840 zone or if the price breaks down the support, it may goes down further
Analysis only for education purpose
Descending Triangle on Soybean Oil, Target at 3755Trend Analysis
The main view of this trade idea is on the 4-Hour Chart. The commodity soybean oil (SOYUSD) is in a descending triangle setup pattern. The resistance line is seen with lower highs on 7200 and 6495 respectively. The support line is observed around 5450. A breakdown in support will take SOYUSD towards 3755. A negation of this pattern will be seen if the commodity breaks above the resistance trend line, above 6490.
Soybean Oil is in a sell mode as it approaches support around 5450 on the longer termed Daily chart.
Technical Indicators
The technical indicators are bearish for SOYUSD. There has been negative crossovers on the short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The RSI is trading below 50 and there has been a negative crossover on the KST as the commodity’s price approaches support.
Recommendation
The recommendation will be to go short at market, with a stop loss at 6490 and a target of 3755. This produces a risk/reward ratio of 1.68.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to Soybean Oil.
Wheat Completes Head and Shoulders Pattern, Target at 865Trend Analysis
The main view of this trade idea is on the 15 Min Chart.
There appears to be a completed head and shoulders price pattern on the commodity Wheat. The left shoulder is around the low of 750.38, the head made a low of 750.38 and the right shoulder made a low of 757. The pattern is not at its original designation however appears to be a positive sign nonetheless. The neckline stands at the 779.37 and 779.87 highs. The completion of this pattern takes the commodity towards current price levels at the time of publishing. Expectations are for the trend in the commodity to continue towards 865. A stop loss order has been placed at 766, below Wheat’s neckline.
The Point and Figure Chart corroborates this bullish view. There was a close above the short (30-MA) medium (100-MA) and long (200-MA) moving averages. There has also been positive crossovers on these respective MAs. The Awesome Oscillator (AO) is above 0 and green and the RSI is above 50. The chart indicates that Wheat can rally towards 860.
The Daily chart shows a breakout of 804 resistance. Closing above this level indicates a bullish move for the commodity.
Recommendation
The recommendation will be to go long at market, with a stop loss at 766 and a target of 865. This produces a risk/reward ratio of 1.73.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to Wheat.
Looking for a strong move higher in cocoa, in wave (3)I expect that wave (2) ended and cocoa in his way for a new high for wave (3).
GOLD - Video Detailed Update!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for GOLD, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
GOLD approaching strong resistance area !!Razu Munikar,
Reconsidering my count here. A WXY corrective structure has ended for now and a lot of room to continue upside as i see. GOLD as per previous analysis has seen a pretty smooth upside move. But it's nearing a strong resistance area at 61.8% area. Will it break it or fake it? The breakout above it will create an all time high as per my analysis. (Do due diligence).
OIL intraday Long..Press the Follow Button to get More of my Daily Detailed Analysis. Also, if you do have any questions, please ask them in the comments section..
US OIL has arrived at some intraday support for Long Trades. This is ideal if you have previously been short OR are still holding shorts. These areas are ideal to take Alternate gains.
Long Term we are still looking to accumulate Trades on the Short side before Market sentiment changes.
Look to exit towards highs at KEY resistance that is newly formed.
XAUUSD , Gold price trending near a Strong ResistanceXAUUSD pair was dominated by buyers last week , hope it will continue even in Resistance zone of 1870 to 1875 , price may reverse from this area if it reverse , it has a strong chance to come back of 1827
Analysis only for education purpose
LONG TO 1864 (TP SMASHED)If you scroll through my channel, you'd see I previously uploaded the analysis for this Gold long to 1864 end of last week. Today we finally smashed our 600 PIP TP. Gold market has been absolutely crazy this week! I will be analysing the markets now for the week ahead and uploading it on my channel so feel free to drop a follow and let me know what you think.
All of my socials are listed on my TradingView profile. Feel free to follow my TradingView in order to keep up to date with all the latest analysis. Drop a like if you agree with this chart analysis or let me know what you think!
XAUUSD, with falling wedge pattern on 11 febFalling wedge pattern on XAUUSD pair, pushing the price upwards atleast 1832
GOLD SHORT TO 1774Possible shorts on Gold now down towards 1774-1767. We've approached a bearish orderblock with bullish momentum now dying down.
XAUUSD SHORT TO 1774I have re-analysed the market by looking at the overall bigger picture on Gold and here is my current short bias on Gold. We've seen Gold start a new mid-term uptrend these past 2 weeks shooting up roughly 500 PIPS. Price has started losing bullish momentum indicating that sellers will be stepping into the market soon.
This has given be a better picture showing that Gold will start heading down soon. I am expecting Wave 3 to end here and see a correction down towards 1820-1814 as Wave 4. Then one final wave up (Wave 5) towards 1837-1843 before we finally see Gold start melting towards 1774 in order to complete Wave C of the overall bullish correction.
All of my socials are listed on my TradingView profile. Feel free to follow my TradingView in order to keep up to date with all the latest analysis. Drop a like if you agree with this chart analysis or let me know what you think!
XAUUSD SHORT TO 1820Gold has been flying up since the start of the week and creating very choppy price action on the way. I am expecting a corrective phase from current market price, down towards 1820 in the form of an A,B,C Elliott Wave form in order to fill the imbalance.
All of my socials are listed on my TradingView profile. Feel free to follow my TradingView in order to keep up to date with all the latest analysis. Drop a like if you agree with this chart analysis or let me know what you think!
Oil short opportunityElliot impulse wave on the weekly is over, now we begin the correction wave. price action has reached the top of its megaphone channel. XLE, which is the most connected sector to oil also has major resistance at $70, and it rejected that just the other day. The last time XLE rejected at $70, it fell 50% over the following year. Very simple TA, but I mean C'mon, anyone could see this coming.
XAUUSD SHORT TO 1820Gold has been flying up since the start of the week and creating very choppy price action on the way. I am expecting a corrective phase from current market price, down towards 1820 in the form of an A,B,C Elliott Wave form in order to fill the imbalance.
XAUUSD SHORT TO 1774 UPDATEThis here is an update of our Gold short's from yesterday. Sells are still valid despite a minor break above the trendline as market is still hovering around Wave B. Wave B becomes invalid when price closes above 1837. As an Elliot Wave trader you need to learn to be flexible with your SL and know how to hedge positions.
I will keep updating this position on my TradingView page so feel free to give a follow and let me know what you think!
