Crude Oil Technical Analysis: Has Oil Topped Yesterday?

Just like all good and bad things alike come to an end, so do “never-ending” rallies. Crude oil declined well over 5% today, which might mean that we already saw the end of the rally.

But did we certainly see it? Will crude oil be trading lower shortly?

Crude oil reversed without moving to the 50% Fibonacci retracement. It did encounter a resistance, though. The resistance was the highest daily close that we saw in the first half of March, right after the huge price gap.

That (March 10th) closing price was $34.36 and crude oil closed at $33.92 yesterday, after temporarily rallying to $34.66. This means that crude oil attempted to move above the above-mentioned resistance, and that it had failed.

This is a bearish sign, especially since it was followed by a sizable overnight decline.

Still, it’s not a proof that the next sizable decline is already underway – not yet. The close below the 38.2% Fibonacci retracement would make subsequent declines very likely, but given that the 50% retracement and the intraday, mid-March highs were not reached, it seems that crude oil could still launch another intraday rally before truly topping.

The monthly crude oil chart also suggests that crude oil hasn’t reached its key resistance level just yet, and therefore it’s not particularly likely to have topped right now.

Has crude oil topped yesterday? That’s quite possible. The answer as to whether it does or doesn’t justify opening a trading position.

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Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager

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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Crude Oil Forecast – It’s Make Or Break For the Oil Bulls

Just like the precious metals market, black gold ended the previous week with a sizable upswing. The rally continued in the early Monday trading, as crude oil moved decisively above its previous April highs.

The breakout above the April highs is a sign of strength, but it’s not been confirmed so far. Crude oil did close the previous week above the highest daily close of April, but it was just a little higher. The move is definitely bigger based on today’s pre-market upswing, but the breakout is still far from being confirmed in terms of time.

The next upside target is the 50% Fibonacci retracement level, which coincides with the mid-March top. However, if the breakout above April highs is invalidated, crude oil could decline all the way down to the $20 level or so, before pausing or bottoming.

Without enough bullish or bearish signs, we don’t think that entering an oil trading position is justified at this time due to the lack of either bullish or bearish confirmations. We expect to see more clues shortly.

Summing up, we might get an opportunity to enter long, or short positions very soon, and increase our 2020 profits, but such opportunity remains absent at this time.

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Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager

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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Is Oil On the Way Up Now?

Crude oil soared higher yesterday and also in today’s pre-market trading, which shows you why it was a good idea to remain cautious yesterday, even despite crude oil’s breakdown below the rising support line.

We previously wrote the following:

We saw a tiny breakdown on Wednesday, but it was not based on the decisive move lower, but rather based on the fact that time passed and the next daily candlestick started below the line. While this makes the outlook more bearish than on Tuesday, the breakdown is not confirmed and we think that the outlook is not bearish enough yet to justify opening a trading position at this time.

Unless crude oil moves sharply higher today, the breakdown will be confirmed, which will be bearish. However, since crude oil just managed to break to a new monthly high, the bearish implications of the above-mentioned breakdown will be nullified by the bullish implications of the breakout above previous May highs.

The above means that “when in doubt, stay out” phrase should now be applied, but at the same time, we think that a more decisive signal might present itself shortly. This is due to the proximity to the 38.2% Fibonacci retracement level based on the previous decline in crude oil. As this retracement is very close to the April highs at about $29 level, it means that this strong resistance area, which is confirmed by two resistance levels, might be able to either trigger a reversal or prove that crude oil is particularly strong right now – if it manages to break above it.

Summing up, depending on the way crude oil behaves relative to its nearby resistance level provided by the early-April highs and the 38.2% Fibonacci retracement based on the entire 2020 decline, we might get an opportunity to enter long, or short positions very soon, and increase our 2020 profits.

We encourage you to sign up for our daily newsletter – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!

Thank you.

Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager

* * * * *

All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Acting on the Prospects for the Oil Rally’s Continuation

In our previous analysis, we wrote about crude oil’s strength. We emphasized how it was able to break above its declining resistance line and open the day with a price gap, despite numerous previous signals that had been pointing to the downside. We wrote that this strength is likely to take crude oil to about $30 or so, because that’s where the next strong resistance was.

However, we also wrote that based on the triangle-vertex-based reversal, we’re likely to see some kind of reversal on Thursday or Friday, and given the current momentum, it seems likely that it will be a top.

Well, we did see a top.

Crude oil broke below the very short-term rising support line and it verified the breakdown by topping in a quite profound manner. What makes it significant, is the shape of the daily candlestick – it’s a shooting star reversal. The breakdown, the reversal, and the likelihood of seeing a top yesterday or today doesn’t necessarily mean that the final top for this rally is in.

However, it does mean that the easy part of the rally is over. And consequently, we are taking money off the table right away, and we’re waiting for another great buying (or selling) opportunity to present itself. As of today, it seems that we might get a slower rally up to $30 and then we could have a shorting opportunity, or we might see a decline to the previously broken declining support line that’s currently at about $18. Depending on the way in which crude oil moves next, we’ll adjust our trading tactics accordingly.

Summing up

The easy part of the rally is over, so we’re taking profits off the table.

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Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager

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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

Much To Our Delight, Oil Keeps Rising

In yesterday’s Oil Trading Alert, we opened a long position based on crude oil’s exceptional strength, and this position is already over $2 profitable. Crude oil is taking a breather today, but it doesn’t seem that this pause is the end of the rally. These are the three reasons why:

  1. Crude oil has just broken above the declining resistance line and it managed to do so despite quite a few bearish factors. It even broke higher with a bullish price gap, underscoring the strength of the bulls
  2. Crude oil has already consolidated a bit, even though it’s not visible on the daily chart.
  3. The really strong resistance level of about $30 was not yet reached.

The first and third reasons are clearly visible on crude oil’s daily chart below:

Given the strength with which crude oil broke above the declining resistance line and the fact that crude oil opened with a bullish gap yesterday, the next very short-term move will very likely be to the upside. The next particularly strong resistance level is based on the 38.2% Fibonacci retracement level and the April highs – at about $30.

Based on the triangle-vertex-based reversal, we’re likely to see some kind of reversal on Thursday or Friday, and given the current momentum, it seems likely that it will be a top.

As far as the second point is concerned, let’s take a look at the 4-hour chart.

Even though it’s not apparent on the daily chart, the above perspective allows us to see that crude oil has already consolidated in early May. This means that the rally is less excessive than it appears at first sight, and that a pause right now is not inevitable.

Besides, the price moves tend to be similar before and after consolidations. In nominal terms, crude oil gained about $10 before the consolidation (moving from about $10 to about $20), so gaining an extra $10 after the consolidation means a move from about $20 to about $30. Of course, in relative terms, a bigger rally would be likely.

Either way, the very short-term outlook for crude oil is bullish, in our view.

Summing up, despite numerous bearish factors, crude oil showed exceptional strength and soared clearly above the declining resistance line on Tuesday, which made the short-term outlook bullish. This is especially the case since black gold opened with a bullish gap, and then continued to rally. It seems that the open profits on our long positions in crude oil will become bigger shortly.

We encourage you to sign up for our daily newsletter – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!

Thank you.

Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager

* * * * *

All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

 

The Days of Sliding Oil

Let’s take a closer look at the chart below

chart courtesy of www.stooq.com

In our Friday’s Alert, we wrote the following:

(…) The gap closed the gap, and futures rose slightly above yesterday’s high. Despite this superficial improvement, the overall situation in either the short or very short term remains almost unchanged as crude oil futures are still trading inside the blue consolidation around the lower border of the orange resistance gap created at the beginning of the week.

Therefore, as long as we do not see a breakout above the upper line of the formation, or a breakdown under the lower border short-lived moves in both directions are likely.

The above chart reveals that although crude oil futures closed the gap created at the beginning of Friday, the bulls didn’t manage to hold gained ground. Today’s session started with another bearish gap that we have marked with red for your convenience.

The buyers tried to close it in the following hours, but they failed. A reversal followed, coupled with a tiny drop below the lower border of the above-mentioned blue consolidation.

What does it mean for the futures?

In our opinion, if the bears manage to push them even lower and close the day below the lower border of the consolidation, the way to the recent lows will be open. But taking into account the size of the consolidation, it’s very likely that we’ll see not only a test of the last week’s low, but also a fresh 2020 low at around $25.40.

Why this price point?

It’s that in this area, the size of the downward move would correspond to the height of the preceding blue consolidation.

Summing up, we might have a good shorting opportunity once crude oil closes below the recent lows, but at this point the risk to reward continues to favor staying on the sidelines.

We encourage you to sign up for our daily newsletter- it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!

Thank you.

Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager


All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Is Crude Oil Firmly on the Upswing Now?

It appeared that the bears firmly took the reins of yesterday’s session, but most of their gains were history before the closing bell.

Let’s start with the daily chart examination (charts courtesy of http://stockcharts.com and http://stooq.com ).

Crude oil opened yesterday’s session with the green bullish gap that’s slightly below the 61.8% Fibonacci retracement. Although the bulls took the commodity a bit higher after the market open, this strong resistance encouraged the sellers to act.

As a result, the price of black gold moved sharply lower and tested the strength of the pink bullish gap created in the previous week. As it turned out, the bulls were active in this area, and prices staged a comeback. This way, the buyers erased almost the entire earlier decline and closed the day slightly below the opening price.

As a result, the commodity created a bearish candlestick formation – the hanging man about which you could read more in our Tuesday’s alert. Nevertheless, as we mentioned in one breath, this is a single-candle formation, and as such it requires confirmation.

Did yesterday’s price action change anything in the oil short-term picture? In our opinion, not really, because light crude closed the previous session still below the 61.8% Fibonacci retracement.

Has there been any kind of a very short-term change in crude oil futures before today’s market open? Let’s take a look at the charts below to find out.

The futures opened today 8 cents above yesterday’s close, creating another bullish gap. This positive development triggered further improvement in the following hours, which resulted in a fresh weekly high and a climb above the bearish orange gap created on Tuesday.

This move also brought the futures above the 61.8% Fibonacci retracement.

However, as long as there is no daily close above this resistance, another reversal from here and a decline are likely – especially when we take into account these two factors. First, it’s the position of the 4-hour indicators – they are quite close to flashing their sell signals again. Second, it’s the proximity to the green resistance line, which runs parallel to the one based on last week’s lows.

Connecting the dots, should the futures move lower in the following hour(s) and the bears manage to invalidate the earlier small breakout above the 61.8% Fibonacci retracement, what would be the bears’ target? We’ll likely see a test of yesterday’s low and the above-mentioned green support line based on the last week’s lows in the very near future.

Summing up, it seems more likely than not that crude oil is going to decline once again, however given yesterday’s strength betting on lower crude oil prices seems too risky at this moment. Moreover, please note that the USD Index and crude oil have been moving in the opposite directions since the beginning of this year, and since the USD Index might be starting a pullback shortly, perhaps crude oil would move sideways or slightly higher before continuing to decline. When in doubt, stay out.

We encourage you to sign up for our daily newsletter- it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Stock Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!

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Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager


All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Oil Price Action – Like a Coiled Spring Already?

Yesterday’s bullish session has brought us new clues. Let’s dive and examine the strength of the evolving oil move higher.

We’ll start by taking a closer look at the daily chart (charts courtesy of http://stockcharts.com).

Yesterday, we wrote the following:

(…) the pink gap created yesterday remains in the cards, blocking the way to the north. Additionally, when we focus on the daily chart, we can see that similar price action took place on January 29. Back then, the futures (and also crude oil later in the day) also opened with a bullish gap, but the bearish gap created two days earlier stopped the bulls, triggering a decline in the following hours.

Will we see something similar this time as well?

In our opinion, as long as the pink gap remains open, the bulls and crude oil futures (and crude oil itself) are threatened by further declines. (…)

The situation has indeed developed in tune with the above, and crude oil pulled back after unsuccessfully attempting to close the pink gap, just like it did on January 29.

The bulls showed more strength this time, however. The green gap they created at the beginning of the day, remained out of the reach of the bears. It still serves as the nearest very short-term support.

Additionally, yesterday’s price action took the commodity back above the previously broken lower border of the declining red trend channel marked on the weekly chart below.

Let’s check the reflection of these developments in today’s premarket action.

Crude oil futures opened today with the yellow bullish gap, which triggered further improvement in the following hours.

This upswing is attempting to close the pink gap created on Monday. That’s encouraging for the bulls, and suggests that we’ll likely see the red gap created on February 3, 2020 tested later in the day.

This resistance was strong enough to stop the buyers five times in a row, which increases the probability that we could see another reversal and decline from here in the very near future. That could happen even later in the day after the EIA report. It’s worth pointing out that the American Petroleum Institute showed yesterday that US crude oil inventories rose sharply last week (by 6 million barrels for the week ended Feb. 7). That doesn’t bode well for higher oil prices – especially if today’s EIA report confirms higher than expected increase in crude oil stockpiles.

This scenario is also reinforced by the green zone based on the previous lows and the upper border of the blue consolidation, which both work to reinforce this resistance zone. Additionally, another move to the downside and a fresh 2020 low would be in line with the Elliott Wave Theory.

Nevertheless, nothing in the market is 100% certain that is why we must also take into account the growth scenario, especially since that the price of black gold is in consolidation. Therefore, should the bulls manage to close the day above the above-mentioned resistances, we’ll consider opening long positions.

Summing up, while oil bulls couldn’t close the nearest bearish gap yesterday, and formidable resistances remain, we might see a break either way shortly. As for the bearish break, the fundamental expectations of high EIA stockpiles report and Elliott wave analysis support that. As for the bullish break, the very short-term gap analysis speaks in favor. It remains to be seen though whether the bulls manage to close today above the key resistances. If they do, we’ll consider opening long positions.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Stock Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!

Thank you.

Nadia Simmons

Day Trading and Oil Trading Strategist

Przemyslaw Radomski, CFA

Editor-in-chief, Gold & Silver Fund Manager

Sunshine Profits – Effective Investments through Diligence and Care


All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Capitalizing on Plunging Oil as Iran Tensions Subside

As a result, the futures came back below the lower border of yesterday’s red gap, creating a very long upper shadow. This is clearly a bearish sign, suggesting further deterioration.

Should it be the case and the futures extend losses from here, we’ll likely see a decline to at least the nearest bullish green gap created in mid-December. This is where also the 38.2% Fibonacci retracement is, which together with the gap serves as the closest short-term support.

The situation indeed developed in tune with the above scenario, and crude oil futures declined sharply during yesterday’s session to our downside target, making our short positions profitable.

Despite this drop, the gap remains open and the above-mentioned Fibonacci retracement continues to serve as a support. These suggest that we could see a rebound from here in the very near future. Therefore, closing short positions and taking sizable profits off the table (as a reminder, we opened them when crude oil futures were trading at around $62.80) is justified from the risk/reward perspective.

Nevertheless, should we see a successful drop below these supports, we’ll likely reopen short positions. We may even reopen them at higher levels after the futures rebound.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Oil Trading Alert – this analysis’ full version. Apart from the specifics of our brand new position, it includes both the daily perspective and more details about which levels to watch and why. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

The Prospects of USD/CAD Rebound Continuation

Quoting our last commentary on this currency pair:

We noticed another move to the upside, which not only invalidated yesterday’s drop below the green line, but also the earlier breakdown below the lower border of the declining red trend channel. Both of these invalidations are bullish signs.

Additionally, the current position of the daily indicators suggests that further improvement is just around the corner.

The situation developed in line with the above scenario and USD/CAD managed to break above the upper border of the blue consolidation during yesterday’s session. Earlier today, the pair extended gains, making our long positions even more profitable.

As the buy signals continue to support the buyers, this observation of yesterday keeps being still valid:

Should this be the case and USD/CAD extends gains from here, the initial upside target will be the previously broken black line – that is the neck line of the head and shoulders formation.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in EUR/USD and USD/CHF. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Time for a Rebound in USD/CAD?

The first thing that catches the eye on the above chart, is the drop to the long-term green support line based on the previous lows.

When we take a closer look at the chart below, we can see that although the exchange rate moved a bit below this support line, the bulls responded by pushing the pair higher, resulting in the invalidation of the earlier tiny breakdown.

Earlier today, we noticed another move to the upside, which not only invalidated yesterday’s drop below the green line, but also the earlier breakdown below the lower border of the declining red trend channel. Both of these invalidations are bullish signs.

Additionally, the current position of the daily indicators suggests that further improvement is just around the corner. Should this be the case and USD/CAD extends gains from here, the initial upside target will be the previously broken black line – that is the neck line of the head and shoulders formation.

Taking all the above into account, opening long positions is justified from the risk/reward perspective. All details below.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in EUR/USD. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

USD/JPY – Light at the End of the Tunnel?

Let’s recall our Tuesday’s commentary:

Today’s downswing brought the exchange rate below the black support line that is based on previous lows. It suggests that further deterioration may be just around the corner – especially when we factor in the sell signals generated by the daily indicators.

If this is the case and the pair extends losses from here, where could the bears aim to go? We would likely see not only a test of the next green support zone based on the mid-November lows, but also a test of the lows created at the turn of October and November, which is where our initial downside target currently is.

There’s one more thing, and it’s the head and shoulders formation in the making. The exchange rate dropping below the lower black support line (that would be the neck line) could trigger a move even to around 107.32. This is where the size of the downward move would correspond to the height of the head-and-shoulders formation.

USD/JPY has indeed moved sharply lower after the breakdown below the black support lines based on the previous lows, making our short positions even more profitable.

This decline brought the exchange rate below the mentioned green support zone, which doesn’t bode well for the bulls – especially when we factor in today’s bearish orange gap.

While the buyers pushed the pair higher to trade above 108.00, the exchange rate is still trading not only below the upper border of the gap, but also below the previously broken green line. This suggests that today’s rebound could be nothing more than a verification of the earlier breakdown.

Additionally, there are no buy signals at the moment that could encourage the buyers to act. Connecting the dots, as long as the gap is open, another attempt to move lower should not surprise us. The downswing would be supported by the above-mentioned head and shoulders formation.

Therefore, we decided to move our stop-loss order lower to protect some of our gains, and move lower our downside target at the same time.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in EUR/USD and GBP/USD. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

The All-Out View of Oil’s Spike

The overall situation hasn’t changed much as crude oil is still trading inside the blue consolidation below three very important resistances (the red and orange bearish gaps and the 61.8% Fibonacci retracement), which form the key resistance zone for the coming week(s).

Additionally, the volume is decreasing on a monthly basis, which raises the probability of a reversal in the near future. Therefore, as long as there is no successful breakout above the mentioned consolidation and resistances, another move to the downside is very likely.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Oil Trading Alert – this analysis’ full version. It includes more details about which levels to watch and why. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Tools for Effective Gold & Silver Investments

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Taking Advantage of the AUD Bulls’ Waning Strength

We wrote on Monday that the recent AUD/USD upswing:

(…) brought the pair back above the two declining resistance lines, opening the way for further gains and to the resistance zone created by the 76.4% and 78.6% Fibonacci retracements.

Earlier today, the pair reached this area, and as the daily indicators haven’t flashed any sell signals, it increases the likelihood of further improvement and a test of the upper border of the rising green trend channel in the very near future.

The situation developed in line with the above, and the pair overcame the mentioned resistance line on Tuesday. The bulls however didn’t manage to keep all the ground gained, and a lower open followed earlier today. This means that a bearish gap has been created, invalidating the earlier breakout above the rising green trend channel.

This is certainly a bearish development that increases the probability of further deterioration in the coming days. But such price action will be more likely and reliable only if we see a daily close inside the channel coupled with the daily indicators generating their sell signals.

Should we see such price action, we’ll consider opening short positions.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in EUR/USD and USD/CHF. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Oil Upswing Attempt Gives Way to Renewed Selling

Although crude oil futures opened today with a bullish gap, the sellers took over and pushed prices down in the following hours. This suggests a high likelihood of closing the gap in the very near future.

Should we see such price action, the way for the prices to trend south will be open. The bears can then follow up with a test of the lower border of the purple consolidation and the next green gap, which is where our initial downside target currently is.

Summing up, crude oil ended 2019 with a bearish reversal, with the downswing supported by the extended position of the daily indicators. Regardless of today’s bullish gap, the sellers maintain control over today’s trading action, suggesting that the gap will likely be closed shortly. Our short position continues being justified from the risk-reward perspective.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Oil Trading Alert – this analysis’ full version. It includes not only the weekly and monthly analysis, but also more details about which levels to watch and why. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Tools for Effective Gold & Silver Investments

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Oil Reverses Lower Faster Than You Can Blink

Earlier today, crude oil futures opened the day with the bearish pink gap, invalidating yesterday’s breakout above the channel. This bearish development triggered further deterioration in the following hours, which means that our yesterday’s analysis is up-to-date also today:

The sizable red gap remain in play. It keeps supporting the bears and lower values of the futures in the coming week(s).

Let’s take a look at the weekly crude oil chart. The volume is progressively declining, raising doubts about the bulls’ strength going forward.

Let’s zoom even further out, and inspect the monthly chart.

The long-term perspective shows that recent weeks’ price action hasn’t really changed the overall situation much. Crude oil is still trading inside the blue consolidation below three key resistances (the red and orange bearish gaps and the 61.8% Fibonacci retracement), which form a major resistance zone for the coming week(s).

Additionally, the volume is decreasing on a monthly basis, which raises the probability of a reversal in the near future.

Therefore, as long as there is no breakout above the said consolidation, another move to the downside would not surprise us and reversal in the coming week(s) is very likely.

Taking all the above into account, we continue to think that lower values of crude oil and crude oil futures are ahead of us. Should it be the case and the futures move lower, the first downside target will be the green gap created on Thursday. If it is closed, the next target will be the lower border of the purple consolidation and the next green gap, which is where our initial downside target currently is.

Summing up, yesterday’s crude oil gains have evaporated in a flash as the red gap ahead coupled with the extended position of the daily indicators brought a reversal lower. The short position continues being justified from the risk-reward perspective, and it is supported by both the weekly and monthly perspectives.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Oil Trading Alert – this analysis’ full version. It includes more details about which levels to watch and why. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Tools for Effective Gold & Silver Investments

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Japanese Yen Goes From Strength to Strength. Not Unexpectedly

Let’s recall our yesterday’s observations as they’re still up-to-date:

the exchange rate is still trading below the rising green wedge, which suggests that another reversal may be just around the corner. This is especially the case when we factor in a potential head-and-shoulders formation.

Should it be the case and the pair moves lower from here, thus creating the right arm of the formation, the first downside target will be the support area created by the early December lows.

The situation has indeed developed in tune with our assumptions, and USD/JPY moved sharply lower after our yesterday’s Alert was posted.

Earlier today, the pair extended losses, making our short positions even more profitable. Today’s downswing brought the exchange rate below the black support line that is based on previous lows. It suggests that further deterioration may be just around the corner – especially when we factor in the sell signals generated by the daily indicators.

If this is the case and the pair extends losses from here, where could the bears aim to go? We would likely see not only a test of the next green support zone based on the mid-November lows, but also a test of the lows created at the turn of October and November, which is where our initial downside target currently is.

There’s one more thing, and it’s the head and shoulders formation in the making. The exchange rate dropping below the lower black support line (that would be the neck line) could trigger a move even to around 107.32. This is where the size of the downward move would correspond to the height of the head-and-shoulders formation.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in EUR/USD and GBP/USD. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

The EURO Upswing Paints an Upcoming Opportunity

Let’s recall our Friday’s analysis:

EUR/USD moved sharply higher earlier today, breaking out above the declining black resistance line that is based on its previous peaks. This move also brought us invalidation of the earlier breakdown below the lower border of the blue consolidation, while the Stochastic Oscillator generated its buy signal.

Taking the above developments into account, it seems probable that we’ll see further improvement and a test of the lower arm of the black triangle, of the upper border of the declining grey trend channel or even of the recent peaks at the upper border of the blue consolidation.

The situation developed in tune with the above, and EUR/USD reached both resistances on Friday and earlier today. The move also took the pair to both the red resistance zone and the 61.8% Fibonacci retracement, suggesting that we could see a downward reversal in the very near future.

But what about the daily indicators? The Stochastic Oscillator has generated its buy signal, and there is still some upside potential in it. The best course of action would be to observe the exchange rate and in case we would see reliable signs of the bulls’ weakness, we’ll consider opening short positions.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in GBP/USD, USD/JPY, USD/CAD, USD/CHF and AUD/USD. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Oil Keeps Testing a Major Resistance. For How Much Longer?

Should it be the case, and the futures move lower from here, the first downside target for the sellers will be yesterday’s green gap. If the bears close it, the next target will be the lower border of the purple consolidation and the next green gap, which is where our initial downside target currently is.

The situation has developed in tune with the above, and crude oil futures have indeed pulled back to our first downside target. However, the bears just couldn’t close the green gap, and the bulls took advantage, forcing a daily close above the upper border of the rising green trend channel.

This is certainly a bullish development, and the buyers followed through with more upside action. While crude oil futures moved above $61.90, the sizable red gap remain in play. It keeps supporting the bears and lower values of the futures in the coming week(s).

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Oil Trading Alert – this analysis’ full version. It includes not only the weekly and monthly analysis, but also more details about which levels to watch and why. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Tools for Effective Gold & Silver Investments

* * * * *
All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Swiss Franc – Is There Any Stopping It?

Earlier today, USD/CHF broke below the green support zone and the 61.8% Fibonacci retracement, triggering further deterioration and a breakdown below the recent lows.

This move opens the way to the next support area based on the 76.4% and 78.6% Fibonacci retracements, as the bears have the initiative.

We hope you enjoyed reading the above free analysis, and we encourage you to read today’s Forex Trading Alert – this analysis’ full version. There, we discuss also the current situation in EUR/USD and USD/JPY. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There’s no risk in subscribing right away, because there’s a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

Check more of our free articles on our website – just drop by and have a look. We encourage you to sign up for our daily newsletter, too – it’s free and if you don’t like it, you can unsubscribe with just 2 clicks. If you sign up today, you’ll also get 7 days of free access to our premium daily Gold & Silver Trading Alerts. Sign up for the free newsletter today!

Thank you.
Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski’s, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.