Fxequity

Weekly Technical Outlook: Potential Reversal Trades for WTI and GBP/CAD


Prepared for some long-term setups?

Let’s set you up with potential reversals for WTI and GBP/CAD in addition to a mid-range help on UNI/USD.

Get ’em whereas they’re scorching!

UNI/USD: Each day

UNI/USD Daily Chart
UNI/USD Each day Chart

The place my DeFi fam at? Uniswap (UNI) has been buying and selling between $22 and $24 for the previous week.

As you may see, the world traces up with a mid-range help on the day by day timeframe and an space of curiosity for the pair this yr. Oh, and take a look at Stochastic chillin’ within the oversold space!

Bulls who’re assured that UNI/USD will return to its $30 vary resistance can begin shopping for at present ranges or on the first indicators of bullish stress.

Nonetheless, should you imagine that UNI/USD is heading for the $16 vary help earlier than attracting patrons, then you definately’ll need to begin promoting as quickly as you see a legit break under the present consolidation.

GBP/CAD Daily Forex Chart
GBP/CAD Each day Foreign exchange Chart

No, you’re not wanting on the School of Pipsology’s range lesson. GBP/CAD is de facto simply giving us a textbook setup!

The pound appears prefer it’s heading for the 1.7600 psychological deal with that’s been serving as GBP/CAD’s resistance since late 2020.

Now that Stochastic is about to hit overbought standing, you may guess pips (however not the farm!) that no less than some pound bears are already making buying and selling plans.

Be careful for momentum at or simply below 1.7600, which might drag the pair to areas of curiosity close to 1.7300 or the 1.7200 mid-range ranges.

WTI: Weekly

WTI Weekly Chart
WTI Weekly Chart

I’m seeing some head and shoulders motion and, no, it had nothing to do with Conor McGregor and MGK’s stunt on the VMA purple carpet.

I’m speaking about U.S. crude oil, yo! WTI is consolidating in what appears like a Head and Shoulders pattern after hitting resistance on the $77.00 deal with that additionally gave the bulls grief again in 2018.

Are we a reversal within the making? WTI is presently hanging across the huge $70.00 mark. If the extent holds as resistance and WTI finally ends up buying and selling under the “neckline” that we’ve marked, then we might see crude oil hit the $51 – $54 vary.

But when the latest upswing pushes WTI above its 2021 highs, then the Black Crack might soar and keep above the $80.00 mark within the subsequent coupla weeks.



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