Hello dears,
Today I will be sharing my own personal analysis with you regarding the price action of these 3 assets (XAU, US100 and USOIL) and going into details on how the price action can go, what potential long/short opportunities are there and in what areas exactly.
But first of all a small introduction about myself:
My name is Mohamad Nasser, I am a computer science graduate who has been learning various trading courses and trading for almost a year now. I would not say that I am an expert in this domain but I do like to share my personal analysis and view in order to get better at it while also sharing the analysis that I am going with.
And now let us jump in for the analysis:
XAUUSD
Gold price is currently ranging between $3,374–$3,403 with a strong bearish indicator towards the $3,370 - $3,350 areas.
We can look for a bounce up to the $3,400–$3,403 zone and then a bearish candle, then sell, targeting the resistance areas in $3,370 - $3,350. The stop here would be above $3,407.
Another scenario would be price resisting at $3,370 - $3,350 areas and then a bullish candle, which we can then buy targeting the $3,400–$3,420 zone. And the top will be below $3,365.
Any breakout from both these ranges can cause the scenario to change.
US100
The live price of US100 is ranging between 21,815–21,840 with a strong bullish structure that is still intact.
The current scenario in this case would be to wait for a dip to the resistance zone, 21,700–21,800 and then buy the dip targeting the 22,200-22,400 area. And stopping would be below 21,650.
USOIL
The current price of USOIL is ranging between 70-72 USD with a short-term mixed to bullish mainly due to the geopolitical factors with the price drop the USOIL have seen yesterday to $69.90
Two scenarios can be taken into consideration here:
1- Buying the dip
Around $69.50–$69.80, wait for bullish reversal candle. Stop below $69.30; Target $72-75.
2- Shorting the rally
If prices fails in the $72.50–$72.80 area, wait for a bearish reversal candle. Stop above $72.90; Targets $69.50- 67.50.
Final Words
Keep in mind that these are not financial advices, it is purely based on my personal analysis along with some indicators. It is just me show casing how I am analyzing and the actions that I am going to take.
Each and every individual must have his own system and analysis that he follows and I never advise copy trading at all. The sole purpose of these posts is to share my thoughts with you in hopes of getting better and maybe benefitting someone from a certain detail or information that he did not notice.
Thank you guys for this opportunity and I will see you again in more analysis posts hopefully.
Regards,
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