Crude oil has broken its downward wedge pattern towards the upside on a 4 hour time frame. The break out of this wedge pattern is a bullish sing for the price action. The price is also trading above its 50 day moving average shown in yellow and near the 100 day moving average shown in…
Read MoreThe EUR50 index is trading firmly above its uptrend line on a 4 hour time frame. We have also formed a descending triangle pattern which is near the upper end of the upward triangle. If these pattern breaks towards the downside, then it will also be breaking the downward trend line which is not a…
Read MoreCopper is trading below the the downward trend line on a 4 hour time frame. The price has formed two patterns. Firstly, it is trading in a downward channel and as long as the price is trading within this channel the bias remains towards the downside. Finally it has also formed a symmetrical triangle pattern.…
Read MoreFundamental Analysis Gold has been hit hard after the FOMC statement, obviously no one were expecting them to be hawkish this much and now the December meeting is fully live one. The upcoming US NFP data will command most of the attention and that will be the next big catalyst for gold. The December rate…
Read MoreThe S&P500 index is trading in an upward wedge pattern on a 4 hour time frame. The wedge has become more narrow towards the end which means that price is highly likely to break out of this pattern. The price is also trading above its 50 day shown in red colour and 100 day shown…
Read MoreThe GBP/USD pair is trading in a symmetrical triangle pattern on a 4 hour time frame. In terms of ranking these patterns are not very well respected due to the failure rate of their completing the pattern’s projections and their reliability in breaking in a specific direction. However, they usually break in the direction of…
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