MarketBreakdown | WTI OIL, GOLD (XAUUSD), USDCHF, EURCAD
here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ WTI Crude Oil - Daily time frame
The market remains bullish . For now, the price perfectly respects the boundaries of a rising channel .
Of course, the market is heavily overbought at the moment. Consider the breakout of a support of a channel
as a signal of a coming correctional movement.
2️⃣ GOLD ( XAUUSD ) - 6H time frame
Thursday was very bullish for the market & the price reached 1810 local structure high.
With a formation of three equal highs & three equal lows, it looks like gold is consolidating at the moment & stuck within horizontal trading range.
To catch the next bullish move wait for a breakout of resistance of the range,
that will be your trigger to buy.
3️⃣ USDCHF - Daily time frame
After a strong bearish rally, the price is approaching 0.91 key daily structure support .
Taking into consideration that the pair is relatively oversold at the moment
I would expect a pullback from that level.
Look for a confirmation on lower time frames to buy safely.
4️⃣ EURCAD - Weekly time frame
The market reached key weekly structure support .
I believe that the price will bounce from that structure.
Again, to buy safely, look for a confirmation on a lower time frame.