Daily Analysis | WTI Rooftop Pattern Continuation if D L3 Breaks | 28 of November

Posted 28 November, 2017

The WTI, went as planned as we could have seen in my previous analysis. Today we can see a rooftop pattern shaping up that is coming from W H1/ D H5 confluence, and it is being held slightly above D L3 camarilla pivot. We can see the rooftop shape an need to be ready if breakout happens. For positional trades watch for POC zone 57.60-57.85 where the price could reject after a retracement. Breakout below D L3 and 4h close below 57.24 should make a continuation move towards 56.78 (ATR projection low) and 56.21 D L5 level.

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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                                                                                                                 By Nenad Kerkez | Admiral Markets

 

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Previous forecast

29 November, 2017 13:10

← Daily Analysis | GBP/JPY | 29 of November

The GBP/JPY has formed a variation of a V-shaped pattern named "Diving Board". The diving board is a reversal pattern that forms after the price makes a flat base than drops down with a high momentum that is followed by a straight-line run-up. V-shaped reversal is created, and the price proceeds up. At this point, we can see two POC zones.

Daily Analysis | GBP/JPY |  29 of November

Next forecast

22 November, 2017 11:45

Daily Analysis | XAU/USD | 22 of November →

Gold spot - XAU/USD is currently forming a bearish SHS pattern (head and shoulders) while still capped below the descending trendline. At this time we need to see if the retracement will reach the POC zone.

Daily Analysis | XAU/USD |  22 of November
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