Is WTI about to conquer new peaks?

19 December, 2016

WTI

Starting off with Oil, we’ve got back to broken resistance zone located in the range of 51.30-52.10. Oil closed last week above that level, thus filling the gap which formed last weekend due to the decision declared by OPEC regarding curbing the oil production.

Reverse head and shoulders pattern has formed in the hourly chart; therefore, it is a good option to buy away from the broken neckline or at the market opening price. But don’t forget to place a big stop loss.

Buy Limit 52.25, Stop Loss 51.00, Take Profit 1 = 55.00, Take Profit 2 = 60.00.

USD/JPY

The currency pair has broken an important weekly resistance (head and shoulders neckline) with a white candlestick pattern. This means that we should buy the pair until getting back to the level 116.14. As you can see, we should wait for the candlestick pattern to form in the daily chart. At that, the goal is visible at the level 123.00.


Source link  
Dollar strengthens on Fed talk

The dollar retreated from four-and-a-half month lows after the speech of Fed’s chair Janet Yellen, who noticed a stable economic recovery...

Is it the end of the US stock rally?

The demand for safe haven assets is declining, as the US stock market that was doomed to collapse remained stable. Investors are ready to jump...

Was populism defeated in Netherlands?

The Dutch voters resolutely put a brake on the populism wheel spinning across the globe such as the right-centrist party of Rutte, as election results showed his primary opponent Geert Wilder went up by a sizable margin...


US oil vs. OPEC - who will win?

US crude oil stockpiles soared for the ninth week in a row according to the EIA report...

Is Euro gaining momentum?

As for the Euro, we have pulled away from a strong level of 1.0522 forming a bearish trap...

Investors sail to safe harbours

The Dollar index flattened as Trump gave a speech ahead of the Congress meeting. The president left the market without any clues on the taxation issue saying it is postponed till the cancellation of Obamacare, which has been the biggest reform in healthcare...


Where is black gold heading?

The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech...

Is the European Union viable and needed?

The US dollar has erased the advantage gained earlier this week against its major opponents, as uncertainty hovers over the outcome of the tet-a-tet between Trump and Shinzo Abe...

The best investments for hedging political risks

Gold approached the broken level of 1241.40 + 50% Fibonacci level. Now, the price slowed down right next to our resistance area, therefore...

  


Share: