Today’s Market Calls of WTI Crude Oil Forecast

Somnath Das Independent Analyst

USEFUL MARKET DIRECTION | TRADING LEVELS:

URGENT PAIR WTI: UPTREND 1hr CHART

BUY WTI (CRUDE OIL): ENTRY: 54.87, TARGET: 55.67/57.47, SUPPORT: 54.40

This week WTI will be upside due to global tension if it cross $58 level then further stretch can happen. Recommendations is buying on every dip.

FXStreet Forex Interactive Chart:

ULTRA SPECIFIC CETERIS PARIBUS STRATEGY:

“Without strategy and execution, a great idea will remain just a good idea.”- Dom

By keeping in mind the daily target price constant trade frequently 3- 4 times a day. Maintain a free margin level approx 200%. With this trader can hold open positions up to 600 pips (approx) if opposite scenario happen. It is applied in a 1:10 leverage setting (Adjust Floating Leverage). Hold the open positions overnight in case of verified short term trend for maximum profit.

UNIQUE TRADING PROCESS:

The trading process is based on ZIGZAG Analysis and combining with ADX. First, predicting buy/sell any type (limit/stop) intraday. Second, identifying any type of hourly candlestick pattern formation, it is suggested to enter 1st position (buy/sell) at any level between the average of daily entry and sl price.

Third, try to book an initial quick profit to verify predictions validity. This process can be repeated twice or thrice in sidewise market. Also, distribution of positions by averaging method will be helpful. This way we can maximize intraday profit, provided that the daily market direction is verified and holds true.

Fourth, on the fundamental side, we will check the price action more during the news in the economic calendar on CPI (Consumer Price Index) data of EUROPE, UK, USA, JAPAN, CANADA, SWEDEN, and SWITZERLAND. Trade deficit data is important to follow for more volatility.

“Every correct Decision you make takes you one step closer to being Wealthy and Successful”- © Somnath Das, 2018-2019

Author

Somnath Das

Independent Analyst

Without strategy and execution, a great idea will remain just a good idea.

GBP/USD revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.