Bears take over as CL’s price drops 12% in a week. The hourly chart shows the potential of a double-bottom formation. Bears Take Over In Monday’s article, we discussed two possible scenarios, the Bear case and the Bull case. Since then, CL has dropped 12% and has taken out the spinning top’s low. CL is Read More…
On Wednesday, Oil fell to its lowest level of the year. US crude output increased last week, reaching 12.2 million barrels per day, its highest level since August. US gasoline stocks increased by 5.3 million barrels over the week to reach 219.1 million. After falling to their lowest point this year in the previous session, Read More…
6E is still trading within the Multi-Year level we have been watching closely. MACD showing signs of bearish divergence. Morning star spotted on the monthly chart. Technicals Showing Bearish Sentiment Multi-Year Level The multi-year level we have been watching closely still has a tight grip on the Euro. You will remember from last week’s analysis Read More…
Introduction Daniel is a futures trader from Colombia who has adopted the momentum trading approach. He uses a combination of indicators such as the Keltner channel, simple moving averages, Renko bars, and order flow cumulative delta. Daniel is very disciplined in his approach and doesn’t try to achieve perfection. He has leveraged the OneUp Trader Read More…
Big US banks expect a poorer economy in 2023, warning of a looming recession. The S&P 500 collapsed for a fourth straight session on Tuesday after a two-month rally. China posted dismal trade figures for November, with imports and exports experiencing their largest monthly declines since 2020. Equities fell on Wednesday as investors became risk-averse. Read More…
Gold retracement gives a possible long reentry for the Bulls. Rising wedge pattern identified on the 4-hour time frame. Market overview as we approach the Fed meeting next week. Quick Recap Gold Futures pushed through the $1,780 level mentioned in our analysis on December 2nd. The price has retraced from a recent high of $1,822.9 Read More…
