MarketBreakdown | WTI Crude Oil, AUDUSD, Silver, Dollar Index

1 mar 2022

Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.

1️⃣ WTI Crude Oil - Daily time frame 🛢️

The market is sharply bullish.
The price is growing within an expanding wedge pattern.

Try to catch a trend-following movement from a support of the wedge
and look for scalp shorting from its resistance.

2️⃣ Dollar Index - 3 days time frame 🇦🇺🇺🇸

For the last three months the pair is consolidating.
The market is stuck within a horizontal trading range.

0.70 is its support.
0.73 - 0.731 is its resistance.

The market is currently approaching the upper boundary of the range.
Look for shorting opportunities from that or if you are bullish biased, consider a bull breakout trade.

3️⃣ Silver - Weekly time frame 🪙

The market recently broke a major falling trend line.
Now we see its retest.
I expect a bullish continuation at least to 25.6 level and then potentially to 26.4.

4️⃣ Dollar Index (DXY) - 3 days time frame 💵

Current geopolitical situation pushes the index to new highs.
The market is growing within an expanding wedge pattern and for now I expect
a bullish trend continuation within its boundaries till the situation is not resolved.
(something tells me that it won't be fast)

❤️Please, support this idea with a like and comment!❤️

2 mar 2022

Nota

Watch my new video on Oil: