Analysis of the latest trend of crude oil market: Analysis of crude oil news: The reason for the decline in oil prices is that the market is increasingly concerned about weak global demand, and the ongoing tensions in the Sino-US trade war have exacerbated this concern. Yesterday, US President Trump announced that tariffs on all countries except China would be uniformly reduced to 10%, and the implementation would be delayed for 90 days, and oil prices rebounded sharply. This decision caught the market off guard, and the oil price, which had plummeted nearly 7% at the beginning of the session, quickly reversed. Brent crude oil futures rose $2.66 to close at $65.48 per barrel; WTI crude oil futures rose $2.77 to close at $62.35; the lowest intraday prices were both the lowest since 2021, and then recorded the largest single-day rebound of the year. However, the rebound did not continue during the Asian session on Thursday, and it still fell back. In the short-term, in the stage dominated by emotions, beware of a second decline. Analysis of crude oil technical aspects: From the daily chart level, the medium-term trend of crude oil fell below the lower edge of the range, and oil prices touched around 60. The moving average system turned and diverged downward, and the medium-term objective trend direction was downward. Due to the downward trend caused by tariffs, we should pay attention to its continuity and further determine that the medium-term downward trend will fall to 55 or even 50. The short-term (1H) trend of crude oil rebounded strongly upward due to the news, and oil prices returned to around 62. Oil prices have crossed above the moving average system, and the short-term objective trend direction has entered a transition period. The bullish momentum has been strong. It is expected that crude oil will continue to rise with this wave of bullish momentum during the day, with a weaker increase than the previous day. On the whole, today's crude oil operation thinking is based on David's suggestion to rebound low and long, supplemented by rebounding high. The top short-term focus is on the 62.0-63.0 first-line resistance, and the bottom short-term focus is on the 59.0-58.0 first-line support. TVC:USOIL FX:USOIL FOREXCOM:USOIL
LTC was unable to maintain its support zone and has now reached lower price levels and it continues.
As previously identified, XEN continues to develop within a well-defined descending broadening wedge. The current price action is testing a key support zone, and its ability to hold here is crucial to avoid a deeper move toward the projected bearish target at the wedge’s lower boundary. Our tactical plan is a quick long from current levels, with stop loss positioned just below the recent swing low. The target is set near the major supply zone, which represents the most significant sell-off resistance on the chart. A rejection at that zone could trigger a sharp return to the critical support area. Watching closely—let’s see how price unfolds.
The S&P500 index (SPX) is making a remarkable comeback following the non-stop sell-off since mid-February as, following the tariff 90-day pause, it is staging a massive rebound just before touching the 1W MA200 (orange trend-line). Since that was almost at the bottom of its bullish channel while the 2W RSI hit its own Higher Lows trend-line, this can technically initiate a 2-year Bull Cycle similar to those that started on the October 2022 and March 2020 bottoms (green circles). The fact that the current correction has been almost as quick as the March 2020 COVID crash, may indicate that the recovery could be just as strong. In any event, it appears that a 7200 Target on a 2-year horizon is quite plausible, being close to he top of the bullish channel, while also under the 2.0 Fibonacci extension, which got hit during both previous Bullish Legs. ------------------------------------------------------------------------------- ** Please LIKE ?, FOLLOW ✅, SHARE ? and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ?????? ? ? ? ? ? ?
Just as anticipated, Gold market made a clean sweep through the 3100s, fueling momentum in its bullish structure. Current sentiment sets the stage for a continued rally, with eyes now locked on the 3160s as the next key zone.follow for more insights , comment , and boost idea
The price perfectly fulfilled my previous idea . It reached the target. OANDA:XAUUSD broke and closed above the swap zone around 3050, which was also Monday's high. The price is now testing the zone above the 3100 level, and I anticipate a potential pullback following the recent bullish extension. Given today's high-impact news, the market may drop from the resistance zone. If the price forms a retracement toward the support level, where we have an upward trendline and swap zone, there is a good chance of the price to rebound. Another scenario could be sideways movement, as we previously observed sideways action at this zone when looking to the left. Overall, I expect a pullback followed by continuation. My goal is resistance zone around 3145 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ??
We can almost say that 4800 has been touched and given that the downward movement was very fast, this wave is most likely the A-wave of a triangle and the upward waves that are forming after the 90-day suspension of the stalls are considered as a corrective wave. Previous SPX Analysis https://www.tradingview.com/chart/SPX/5HfnzrCf-S-P-500-resistance-levels/
In 4hr chart. $11.5 - 12.4 or higher, next earnings will take it out from chart, $15..?
BINANCE:SOLUSDT We are currently tracking a developing (B) wave as part of a larger corrective structure. The move up from the local low unfolds as a classic 5-wave impulse (yellow), where wave 3 is completed, wave 4 is forming as an A-B-C flat correction, and wave 5 is still expected to follow, completing wave (C) of (A). After that, we anticipate a drop into wave (B) of the corrective sequence before a potential final push into the green target zone to complete wave (C) of (B). Once this entire correction is done, the expectation remains for a larger 5-wave decline to complete the macro structure. Wave count stays valid as long as internal rules of Elliott Wave Theory are respected.
NZDUSD has a break in corellation with AUDUSD, the SMT divergence while staying above opening price, so i will choose the NU shorts over the AU