The weekly chart shows a bullish false-break candlestick formation. Analyzing the support/resistance band on the 4-Hourly chart. A look into the 1-Hourly trend channel. False Break Candle The false break candle strategy is one we are familiar with at OneUp Trader, and for a good reason – its reliability! The pattern works because when the Read More…
The parabolic curve on the CL chart continues to act as support. A Potential inverse Head & Shoulders formation on the 4-Hourly time frame. Point of control volume profile acting as resistance. Daily Chart Recap From last week’s multiple tests of the parabolic curve, CL is repeating the same tests once more, with the price Read More…
Economists expect the RBA to raise rates by 25bps on Tuesday. The unexpected rise in Australia’s inflation could see the RBA reconsider its smaller hikes. The RBA might be forced to raise rates by 50bps to try and keep up with the aggressive Fed. Australian dollar (6A) futures prices have been falling ahead of Tuesday’s Read More…
Gold bears are targeting lower prices. Spinning top from yesterday’s session on the Daily chart. Price retraces to test the neckline of a head & shoulders on the 2-Hourly chart. Recap From Earlier This Week On Monday 24th, we looked at the slight bounce in Gold prices out of the minor support potentially forming a Read More…
The US dollar reverses losses, making gold more expensive for overseas buyers. The US economy makes an unexpected recovery in Q3. US consumer spending fell to 1.4%, indicating reduced demand. Gold (GC) futures prices declined in choppy trading as a gain in the dollar offset support for the precious metal. Gold had been rising on Read More…
A recap of the Bullish Parabolic curve. CL looking more Bullish Potential targets of $90 & $93.64 are still probable. The Parabola The parabolic curve mentioned in last week’s analysis has been tested on five different sessions now, with each attempt being bought up, resulting in bullish candlestick formations on the daily chart. This indicates Read More…
