Oil Breaks the Roof

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Published: Mar 2, 2022, 11:01 GMT+00:00

In today’s Traders Edge Market Briefing, Tomasz has found these amazing setups that we thought you’d find interesting.

DAX crashed a major support and makes the new mid-term lows.

American indices are behaving slightly better as the SP500 and Nasdaq are still defending the major supports.

EURUSD drops making new long-term lows. The pair is probably in a free fall to the support around 1.09.

NZDUSD is in a better position. Here, the price came back above the 38,2% Fibonacci, confirming the false bearish breakout and creating a mid-term buy signal.

Gold broke the crucial horizontal resistance on the 1910 USD/oz and is now aiming at the horizontal resistance on the 1960 USD/oz. The buy signal is on.

The commodity with the strongest buy signal is not the safe haven gold but oil. Brent is currently trading at 112 USD/bbl. Entering with a long position right now is a bit risky though as the price seems a bit stretched, which makes it prone to rapid corrections.

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About the Author

Tomasz Wiśniewskicontributor

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.

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