2019-11-11 • Updated
Trade ideas
BUY 55.70; TP 58.00; SL 54.50
BUY 52.90; TP 54.50; SL 52.50
Let’s analyze oil. Since the end of December, the price of WTI has substantially recovered. It managed to rise above 50-day MA at 50.80. The price action resembles an inverted ‘Head and shoulders’. However, the pattern will be confirmed only above 55.60 (38.2% Fibo of the October-December decline). The targets will be at 58.00 (100-week MA) and 59.55 (50% Fibo). We’ll keep an eye on the chart to see if such a recovery actually takes place.
In the near term, there’s a positive position of MAs on H4. A return to the 53.00 area will likely attract new demand and let the price recover to 54.50.
The downside scenario will become possible if the price slides below 52.00. In this case, it will test support at 50.80.
Notice that if you want to trade WTI, choose WTI-19H, WTI-19J or WTI-19K in your MetaTrader (File - CFD Futures).
Saudi Arabia and Russia, two of the world's largest oil producers, have decided to extend cuts to their oil production to support oil prices and boost income. This move comes despite weakened demand due to the sluggish economy.
Oil prices fell to a three-month low following the release of US inflation data which was in line with expectations. The annual inflation rate of 6%...
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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...
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