US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
OIL: downswing imminent
2020-06-25 • Updated
Fundamentally, we have the following layout. In the oil market, there is relative silence and neutral mood. Globally, investors are cautious about the second-wave virus hit. Together, these factors make the oil price hang in the channel between $35 and 40$ like in limbo. Therefore, it is unlikely that it moves far beyond that channel until the global mood fundamentally improves.
In the short-term, if the price insists on testing the resistance of $40, we will have a high likelihood of a further drop closer to the middle of the channel at $37.5 as per the technical chart formation. Previous candles dropping sharply to the lower side of the channel confirm that this is indeed a possibility.
Therefore, watch how WTI price behaves the following hours – it may well drop to previous support levels within the current channel.
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WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
