CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
About Our Global Companies
Valutrades_LogoSpot
Valutrades_SYLogoSpot

Company

Valutrades Limited - a company incorporated in England with company number 07939901. View more information here.
Valutrades (Seychelles) Limited - a company incorporated in the Seychelles with company number 8423648-1.

Regulation

Regulated by the FCA (Fincancial Conduct Authority). Financial Services Register Number 586541.
Regulated by the FSA (Financial Services Authority). Regulatory Number SD028.

Max Leverage

30:1 (or up to 500:1 for Professional clients, click here to find out more about professional client status)
Up to 500:1

Country

United Kingdom
Seychelles

Negative Balance Protection

Yes
Yes

Back to Blog

WTI and Brent Crude Consolidating. USDCHF at Support.

   

Welcome to this week’s Market Blast Technicals where we will look at the S&P 500 (US 500), NZDJPY, USDCHF, WTI (US Oil), Brent Crude (UK Oil), Gold (XAUUSD), and the FTSE 100 (UK 100).

 

Yesterday we looked at the FTSE 100 from a fundamental point of view and today we can see a clear bearish channel so we will watch this upper trend line to confirm a continuation of the trend.Screenshot 2020-09-15 at 10.37.17

Adding indicators like Bollinger Bands and the Stochastic Oscillator helps us spot entry points on the reversals.Screenshot 2020-09-15 at 10.37.29

This oscillator can also help us find entry points on Gold which is currently consolidating in this symmetrical pennant with price at the upper trend line.

Also, using Fibonacci on the drop in price from last month, we see that price action is on the 50% level and the 23.6% level has been acting as support.Screenshot 2020-09-15 at 10.37.40

Looking at the one-hour chart on Brent Crude we see a descending triangle with solid support at $39.35 per barrel.

As we know, consolidation patterns like this may go either way once we see a breakout.

From the other side of the Atlantic, we see consolidation on WTI in the form of a symmetrical pennant so we will keep an eye on both the upper and lower trend lines.

Price action on USDCHF has shown us support from late July with two attempts to break below.

The next break could see us reach the next key level at $0.90.

We need to look at the weekly charts to see price so low from over 5 years ago.

We are starting to see strength returning to the NZD this month and we are keeping an eye on this ascending triangle on NZDJPY with resistance at 71 Yen.

And, finally, we looked at the S&P 500 yesterday and we see the move to the upside was a clear bounce of this lower trend line.

That’s all for now.  Happy trading with Valutrades and we will see you next week.

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.

Comments