Introduction As a trader, having the right indicators in your toolbox can mean the difference between successful trades and costly mistakes. One of the most powerful and versatile tools available is the relative strength index (RSI indicator). Virtually every trader knows about the RSI, but are you using it to its full potential? In this Read More…
On Thursday, oil prices rose as the International Energy Agency and the OPEC producer group predicted robust growth in global oil demand. At the same time, severe winter weather disrupted US crude output. Moreover, the government reported a significant weekly decrease in crude inventories. There was a larger-than-expected draw in crude inventories, totaling 2.5 million Read More…
Weekly Chart Analysis: The weekly chart exhibits a consolidation pattern with a clear ‘Point of Control’ at approximately 1.09220. This level represents the price with the highest volume traded over the analyzed period and acts as a significant area of balance between supply and demand. The presence of a ‘Low Volume Node’ below this range Read More…
Weekly Chart Starting with the weekly chart, the E-Mini Russell 2000 Index Futures are oscillating within a defined trading range between approximately $1964.5 and $2000, with the ATH at $2463.7. The index is currently testing the upper boundary of this range. A convincing breakout above the range could signal a strong bullish sentiment, potentially targeting Read More…
On Wednesday, US crude oil prices fell sharply due to an unexpected increase in US crude stockpiles. The report raised concerns about demand in the largest oil market. WTI futures vs crude stockpiles (Source: Bloomberg, EIA) Despite an initial 1% gain, prices reversed direction following the US Energy Information Administration’s report. There was a surprise Read More…
Weekly Chart The weekly chart reveals a battle at a critical level for crude oil futures. A well-defined support zone at $71.50-$72.00 comes into focus, clearly marked by previous consolidation and the volume profile ‘point of control.’ This level represents a pivotal battleground between bulls and bears because it tells us that this is the Read More…
