Technical Observation
Last week, Brent oil spiked upwards breaking above the weekly Resistance line 57.48. This commodity however failed to sustain this breakout, on the less time frames, the move above 57.48 was a false break, thus, if you went long on the previous rise above 57.48, you should exit this position. After exiting, wait for a minor pullback to the upper side, then pick a short position with your take profit fixed at the weekly resistance line 45.29. If this support is breached, then the price could plummet towards 40.00.0
Technical levels:
Resistance levels
R1: 57.48
R2: 53.90
Pivot
56.00
Support Levels
S2: 28.65
S3: 45.29
Trade Signal
Wait for a clear sell signal around 57.48.
Gas Review
Technical levels:
Last week, A false breakout was seen when the gas went above the resistance line 3.080, but failed to sustain this breakout. On the lesser time frames, this breakout was actually a false breakout and if you went long on this breakout, you should opt out of this buy position. Wait for a clear sell signal around 3.080 to pick a short position towards 2.790. If this Resistance, 3.080 is broken clearly, then I'll wait for a clear buy signal to long towards 3.5.
Technical Levels
Resistance levels
R1: 3.080
R2: 3.748
Pivot
3.07
3.07
Support Levels
S2: 2.798
S3: 2.581
Trade Signal
S2: 2.798
S3: 2.581
Trade Signal
Wait for a sell signal around 3.080 towards 2.2790.
Buy Bitcoin towards 5000.00
Buy Bitcoin towards 5000.00
Technical Observation:
Last week, Bitcoin recovered almost 76% the value it lost in the last three weeks. This is a bullish gesture and following the Friday's bullish pin bar, Bitcoin could continue rising and may end up above 4800.00 by the close of next month. As it is, I'm interested much more in buy orders especially if the price can clearly get above 4263. on the way upwards, Bitcoin could hit up to 5000 by the close of this year, on the way upwards key resistance line can be seen at 4568.12, and 4860.20. If these lines are breached, then the price could rise towards 5000.00
Trade Signal
Look for a buy position towards 5000.00
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