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!
GBP/USD: developing 'Pennant' pattern
2019-11-11 • Updated
The last 'Pennant' pushed the price lower. Meanwhile, it's likely to have a local upward correction. In this case, we should keep an eye on the nearest resistance at 1.2877 - 1.2904 as a possible starting point for another decline.
It seems like we're going to have a 'Pennant' pattern soon. If correct, the pair is going to test the closest resistance at 1.2877 - 1.2904 shortly. If a pullback from these levels forms little later on, there'll be a green light for a bearish price movement in the direction of the next support at 1.2851 - 1.2811.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!