Welcome to this week’s Market Blast Technicals.
I’m Brad Alexander and on behalf of Valutrades let’s take a look today at the Dow Jones Industrial Average (US30), Brent Crude (UK Oil), WTI (US Oil), and Gold (XAUUSD).
Yesterday, Gold hit a key level of support at around $1858 with the next key level below at $1840.
Of course, we need to see a break of support or a bounce off this upper trend line of a descending triangle which may be forming.
Both Brent Crude and WTI seem to be a “one-way” market these days with prices still climbing as demand returns.
Many traders are simply “buying the dip” on the H1 or shorter time frames.
We see both the NASDAQ and the S&P 500 hitting all time highs but Wall Street, or the Dow Jones Industrial Average, has slipped slightly but this gives investors and traders the chance to “buy the dip” here as well.
You may have noticed that Valutrades has introduced new Futures contracts on Crude Oil, Gold, the US Indices and the DAX.
Just right-click “Show All” in your MT4 Market Watch and all will be in view.
The advantage of futures is that you can Swing Trade (trade day to day or week to week) without paying any finance or Swap charges.
Thanks for watching and don’t forget to subscribe to our YouTube Channel and register on the Valutrades website to get notifications on new content as it happens.
That’s all for now. Happy trading with Valutrades and we will see you later in the week with our trading tips video.
CFDs and FX are leveraged products and your capital may be at risk.
Disclaimer:
The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.
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