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OILUSD/H4 WTI oil fluctuates in the stable range of $70 - $80.OILUSD forecast on August 13, 2024: WTI oil is under pressure from the war and DXY is decreasing. Currently, the oil price has risen from the $71 region back to the $80 area. It is likely that oil will experience a correction before continuing its upward trend. The trading trend today is BUY. Key levels to watch are: 76.5, 78, 80, and 82. Recommended orders: Plan 1: BUY OILUSD zone 76-76.5 SL 75.5 TP 78 - 80 - 81. Plan 2: BUY OILUSD zone 77.60 - 78.10 SL 77.20 TP 79 - 80 - 81. Plan 3: SELL OILUSD zone 83.30 - 83.50 SL 83.80 TP 82 - 81 - 78.
NYMEX:CL1!
by wetdyerap
Gold Market Outlook: Bullish Trend Expected To PersistOur technical analysis and market indicators suggest that gold will continue to exhibit bullish behavior tomorrow, Identified buy level at 25 and 20, building on the momentum established in recent trading sessions. This optimistic forecast is supported by robust fundamental factors, including: - Strong investor demand for safe-haven assets - Central banks' continued gold reserves accumulation - Favorable macroeconomic conditions
FOREXCOM:XAUUSDLong
by sabellaFX
[INTRADAY] #BANKNIFTY PE & CE Levels(09/08/2024)Market Outlook for Bank Nifty: Opening: Expected to open with a gap up near the 50,500 level. Potential Reversal: After opening, a reversal at the 50,500 level could continue the bearish trend. Downside Potential: If a reversal is confirmed if banknifty starts trading below 50450 level, a downside rally of 400-500 points could occur after that. Extended Downside: The rally might extend by an additional 400-500 points if Bank Nifty trades below the 49,950 level. Upside Potential: Any upside rally is only anticipated if Bank Nifty sustains and trades above the 50,550 level.
NSE:BANKNIFTY
by TradZoo
Booking Holdings: Trend Reversal! The sharpness of the correction and the current structure lead us to consider the last high at $4147 as the end of the major wave (I) in blue. We now expect a countermovement in the green wave (II), which should end below the resistance at $4147. Following this corrective counter-move, we expect further declines. That being said, our alternative scenario (33%) calls for further record highs. In this case, we will still have to place the price in the blue wave alt. (I).
NASDAQ:BKNG
by MarketIntel
The doomsday retracementWow, what a week it has been. SPX down 3.5% and up 2.5% the day after. My thought is this backtrack is going to be the biggest retracement for the drop, just like we saw on bitcoin. APPL seems to have DOJ issues, NVIDIA chip issues in Taiwan... all seems to be lining up for potential lower for longer. My only buy this year will be TSLA. More on that. Goldilocks is not going to bring us back to pre-pandemic levels, rate cuts are not going to save the market. The narrative has already changed on July 17th when Trump said he didn't want to invade Taiwan, good luck buying after august.
EIGHTCAP:SPX500Short
by Osmanomics
1
Chainlink: Let’s go!LINK dropped significantly in the last seven days and even briefly undercut our turquoise Target Zone (between $8.20 and $10.90). However, as it was able to turn around quickly and only undercut the range by less than 1%, our count remains intact. We now see the turquoise wave 2 as completed and expect an upward push above the resistance at $20.85 in the further course. Investors could open long positions within our Target Zone. Stops could be placed around 1% below the lower edge. Should the bears push the price significantly below the Zone (37% likely), we will have to anticipate a lower low of the turquoise wave alt.2
BINANCE:LINKUSDLong
by MarketIntel
2
Uber: Turning PointUber has retreated deeper into our magenta Target Zone (coordinates: $68.19 - $52.89). Primarily, the same-colored wave (iv) correction should be in its final stretch. In order to convince us of a low, the price needs to develop a clear impulse to the upside. The entire range can be used to open long positions. As a hedge, a stop could be placed around 1% below our Zone. Following the correction, we primarily assume that the magenta-colored five-wave move should be completed above the resistance at $81.87 which should also mark the end of the turquoise-colored wave 3.
NYSE:UBERLong
by MarketIntel
2
Saudi wants production cuts, America doesn'tAlthough everyone is cutting down production, even SHELL, we are seeing the narrative of higher prices for longer. OPEC wants to cut beginning October 2024 until 25. This might be for a multitude of reasons, which makes it quite unclear what the goal is. After falling demand and easing in production, my narrative is that we might see prices fall instead of rise, even though we are trying to limit supply, I think markets are going to want to lower prices as energy scarcity becomes vulnerable and volatility will rise. Geopolitical risks has not eased. US SPR is lower than a quarter of its peak in 2021. My bet of dropping prices lies on that. As well as Trump having 70% chance of coming into office, I expect a welcoming gift from MBS giving us discounts on gas!
EIGHTCAP:USOUSDShort
by Osmanomics
Solana: SlumpedSOL retreated quite a bit last week. However, our primary scenario remains unaffected by this development. We continue to see the price in the final stage of the blue wave (i), in the context of which we expect a rise well above the resistance at $210.03. However, we must also keep an eye on our 25% likely alternative scenario, which will be activated by a slide below the $118.89 support level. This option sees the coin already in the blue wave alt.(ii) and would ensure a sell-off into our blue Target Zone (between $109 and $51.20).
BINANCE:SOLUSDLong
by MarketIntel