I circle all red histograms in the daily chart daily soon enter bullish trend but I will show other TF why bullish trend might hit 2450 soon
based on other charts (not Xauusd) I draw a very slow bearish trend will compare it later and see if there is any spike or not this for experimental only don't use it as suggestion for any trade
monitoring weekly 52k and 47k support it's all about same pattern but monthly not finished yet will bullish pattern IMO
there alot of fibo and pattern in USOIL I will post fibo later for now looks like pattern still bearish until year 2026 or at least until 40 support retest quite funny how Biden want Oil above 75$ resistance 105$ and Trump want oil under 75$ support 34$
3month timeframe can be used for years of long term signal use stochastic to determine bottom fibo we will see - 2945 - 2700 - 2582 - 2461 - 2349 - 2220
that weekly resistance become weekly support for now stochastic will bottomed but that structure will hold and become rocket base for bullish long term trend
above 2353 bullish again to 2450 FOMC + CPI = very strong volatility might spike to 2450 before bearish usually would see retest to fibo on 2316 or 2305 but technical interest zone in 2299
as long as above 2251 will see 2288 and 2300++ as the next target when 2300$ hits its a grey zone, weekly can see it as a bull trap or continue rally above 2300 (to 2350 and 2450)
using different fibo, since I want to see target above 2300$ 1. above 2300$ we will see 2450-2470 as next target 2. next 2650$ but that not top price, just a strong resistance 3. 2070 still a good support just I don't know when it retested before next rally
daily should go straight down but it is not happening right now indicate the daily quite weak bearish trend right now monitoring 2125 and later make bullish divergence or straight down to 2077 NOTE: left = Mar 2020 right = right now, Mar 2024
indicator all top high but it making bearish divergence I show it all on chart also fibo but 2115 will become magnet that's why I write 2115
this is a very rare PA Mar 2020 really painful hard to analysis do whatever your risk management can do DONT SCALP!!! THIS IS RISK MANAGEMENT NOT TECHNICAL ANALYSIS!!!! SELL TOP BUY BOTTOM
this is part of risk management and self-reminder 1. as long above 1933 I will see 2300$ as long-term target 2. I do not know how low the bearish trend will continue but 1h shows a very good resistance around 2065 and 2075 I will show the reason later REMEMBER THIS IS MY OWN THEORY, but I backtest it, with a screenshot
red area will: 1. create overbought on RSI again and make an obvious bearish divergence 2.the problem 2220 might not a top price I will post it on picture later 3. it might hit 2256 and 2300 later
2140 still weak bear 2136 normal target 2132 very strong bearish a signal to 2120 later
1. retest 2150 2. dont retest 2156 3. it will create strong bear and weak bull 4. chance drop to 2142 and extend to 2136 note: 2159-2160 become strong resistance break that mean bull still got power
1. retest 2150 2. dont retest 2156 3. it will create strong bear and weak bull 4. chance drop to 2142 and extend to 2136
triangle break out if above 58 will analyze again if rejected from 56 will seek 2136 as next target