For those who trade gold futures, be in a sell position at the price indicated on the chart.
The upward trend in global oil demand is expected to continue, especially as the global economy gradually recovers, and the increase in fuel and heating demand may further push up oil prices. However, uncertainties on the global supply side, especially supply problems in Iran and Russia, will have a lasting impact on oil price trends. The increase in the number of drilling rigs in the United States indicates that US oil production has recovered, which may have an impact on market supply in the coming months. If the US energy production capacity continues to expand, oil prices may face downward pressure. In the short term, the crude oil market may maintain a volatile consolidation pattern, and market sentiment will be affected by the global political situation and the balance of supply and demand. Investors need to pay close attention to the situation in Russia and Ukraine, US trade policy, changes in global oil demand, and the dynamics of the Federal Reserve's monetary policy to seize future market opportunities. Crude oil hit a high and fell back at the weekly level, closing at a low level. The weekly level includes a negative inverted hammer line with a long upper shadow line. The weekly level has four consecutive negative lines, and the oil price short position has been continued again. The focus next week is whether the oil price will continue to break below the 70.0 area, and it is expected to open up the space below after breaking. Next Monday's crude oil plan: Rebound at 71.1 without breaking through once, target at 70.2-69.5, stop loss at 0.5 USD If oil prices break above $72.0/barrel, this will stop the expected bearish trend and push oil prices back to a mainly volatile trend. It is expected that oil prices will trade between the support level of $69.0/barrel and the resistance level of $71.2/barrel on Monday.
Alibaba has broken out strongly on the weekly chart, with the next resistance levels at $140 and $160. However, we are watching for a potential retracement in the coming week for a better entry point. Alternatively, waiting until after the earnings report may be a safer approach.
Warren Buffett recently invested in this stock, leading to a 6% surge after market hours on Friday. Support Levels: $170 (short-term support) $160 (major support – recent low) A close below $150/$160 could indicate further downside pressure.
SOL, The first major runner this alt season, it has been very lack luster as of late. I am just watching here. I have my sol bags, which I assumed would be no touch, but I may "touch" them if they can't break the $300 this season. I got in my sol a bit late and have it staked, so I am unsure at this time... Not financial advice, just for fun GTLA What do you see as the LOWEST sol goes in crypto winter?
First Range & Blue Box: This might indicate a price range or consolidation zone marked by a blue box, acting as a key support/resistance area. $800 Mark Crossover: If the price crosses above 800 and closes a candle above it, this suggests a strong breakout. Strong Top at $500: If the breakout is confirmed above 800, the next target or resistance level could be around $1500. Refined Trading Plan: First Range Breakout: If price crosses $800 and a candle closes above it, a strong upside move is likely. Target: $1500 (first major resistance) Momentum Continuation: If price breaks above $1500 and closes above it, further upside potential emerges. Targets: $3000 $4000 $5000 $8000 $10,000 Until a hard pullback occurs. Key Trading Considerations: Entry Confirmation: Wait for a strong candle close above resistance levels before entering. Stop Loss: Below the most recent breakout level (e.g., 1450 if entering after 1500 breakout). Trailing Stop Strategy: Move stop-loss to the previous level (e.g., if price hits 3000, SL moves to 1500). Hard Pullback Signal: A high-volume rejection wick at key levels. A strong red candle closing below previous support. Divergence on RSI/MACD indicating overbought conditions.
Palladium has found strong support around $850 and remains above the 200-day moving average (MA). A bullish RSI divergence has formed on the weekly chart, and $850, previously a resistance level, has now turned into support. However, a break and close below $850 would negate this bullish setup.
Gold has been bullish, and might be experiencing a correction. Even though there was huge selling pressure to close the week, it is too early to call it a reversal. Previous weekly low is anticipated as the draw on liquidity. Price might give a chance to join the mini downtrend at the 45 minutes breaker or at the 15 minutes base. However, we will see how price develops come Monday.
The EURJPY pair is one of the most interesting assets to watch. Overall, the long-term trend has shifted from strongly bullish to neutral since the highs of July 2024. However, we can observe that each successive bullish rebound is reaching lower highs. With the ECB lowering interest rates and the recent rate hikes by the Bank of Japan, a rebalancing is gradually taking place. As a result, at best, we can expect a range-bound movement between 156.00 and 164.00 in the coming weeks, and at worst, a sustained decline in the exchange rate in favor of the yen. Holding yen long-term is not attractive from a swap perspective, but in the short term, attempting bearish rebounds is more interesting. Here, I initiated a short trade, betting on a continuation of the downtrend after the pair rebounded from the 0.618 Fibonacci retracement zone. Historically, this level is significant and acts as resistance when trends establish themselves.
GBPCAD is testing support, and the support levels are rising. This means that the price has been bouncing higher from these levels each time. I believe that after this test, the price will bounce up again and move towards the resistance level, which is clear and straightforward. The fact that the support is holding and moving higher makes it more likely that the price will continue up, as the market seems to be gaining strength.