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EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted a ...

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting with competent advisors before making any financial decisions, particularly in relation to investments in cryptocurrencies and CFDs [1]. Group 1 - The website provides general news, personal analysis, and opinions, as well as materials from third parties for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as a recommendation or advice for any financial actions, including investments or purchases [1]. - The accuracy and reliability of the information are not guaranteed, and users are cautioned that prices may be provided by market makers rather than exchanges [1]. Group 2 - The content includes information about complex financial instruments such as cryptocurrencies and CFDs, which carry a high risk of losing money [1]. - Users are encouraged to understand how these instruments work and to consider their financial situation before investing [1]. - The website may contain advertisements and promotional content, and FX Empire may receive compensation from third parties related to such content [1].

Group 1 - Strong short-term demand for crude oil is indicated by a wide range green candle, with a potential for higher prices if it closes above $58.61 [1] - A potential higher swing low in gold suggests an increased likelihood of breaking through the $59.00 resistance area, which would confirm a trend reversal [2] - The first target zone for an upside breakout in crude oil is identified at $60.56, with further targets at $60.77 and $61.87 based on the ABCD pattern structure [3] Group 2 - The weekly chart shows early bullish reversal signals, with a potential bullish engulfing candle indicating strength if crude oil remains strong into Friday's close [4] - A weekly close above last week's high of $58.65 would confirm a one-week reversal, countering previous bearish sentiment from the last two weeks [4]

Core Viewpoint - The crude oil market is currently in a downtrend, with key resistance levels at the 50-day average and the $59.00 swing high, which need to be surpassed for bullish sentiment to improve [1][4][6] Price Levels and Trends - The 50-day average, currently at $59.14, has been a significant area of resistance since early August, and a close above this level is necessary for a bullish outlook [1][2] - The $59.00 swing high represents a critical resistance point, and a breakout above this level is essential to shift market sentiment [1][4][6] - The recent low of $56.77 serves as key short-term support, with further support at $57.08; failure to hold these levels could lead to a bearish breakdown [3][5][6] Market Sentiment - The market remains dominated by bearish sentiment, as indicated by the inverted doji hammer candle pattern and the overall price action [3][4] - A convergence of the 50-day average with an internal downtrend line may indicate a potential shift in demand dynamics, but confirmation through price action is required [2]

Core Viewpoint - Crude oil is facing key resistance levels that could determine the direction of its price movement, with a potential trend reversal contingent on surpassing recent swing highs [1][2]. Price Resistance and Trend Reversal - Crude oil is on a path to test resistance at $59.26 (10-week moving average) and $59.37 (78.6% Fibonacci retracement), with the 50-day average at $59.13 [1] - A daily close above the 50-day average would indicate a higher likelihood of a trend reversal, although previous attempts to break this level have failed [2] - The recent swing high of $60.56 must be surpassed for a confirmed trend reversal from the current downtrend [1] Support Levels and Near-Term Outlook - Key support levels are identified at last week's high of $57.82 and this week's low of $56.93, with the latter being significant as it represents a higher weekly low [3] - A sustained decline below the recent low would signal a bearish outlook, while bullish reversals from current lows could lead to rallies [3] - Until a daily close above the 50-day line occurs, resistance is expected to hinder the current counter-trend advance [3]

EnglishItalianoEspañolPortuguêsDeutschالعربيةFrançaisImportant DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted a ...

Failed 50-Day BreakoutThe 50-day average remains the defining dynamic resistance for the downtrend. Last week’s bullish breakout and daily close above it has now fully failed, producing accelerated selling and continuation of the tight falling channel that began after October’s trend high. Failed breakouts routinely trigger sharp moves in the opposite direction, and crude oil exhibited exactly that behavior across daily and weekly timeframes.Immediate Downside TargetsPrice now threatens another test of the ...

Core Viewpoint - The content emphasizes the importance of conducting personal research and due diligence before making any financial decisions, particularly in the context of complex financial instruments like cryptocurrencies and CFDs [1]. Group 1 - The website provides general news, personal analysis, and third-party materials intended for educational and research purposes [1]. - It explicitly states that the information does not constitute a recommendation or advice for investment actions [1]. - Users are encouraged to consult competent advisors and consider their individual financial situations before making decisions [1]. Group 2 - The content highlights the high risk associated with cryptocurrencies and CFDs, noting that they are complex instruments that can lead to significant financial losses [1]. - It advises users to fully understand how these financial instruments work and the associated risks before investing [1]. - The website may include advertisements and promotional content, and FX Empire may receive compensation from third parties [1].

Key Support Zone ApproachingThe pattern is driving price directly toward the critical long-term support pocket between the recent higher swing low at $57.21 (C) and the trend low at $56.41 from October. That $57.21 level marked the completion of an 88.6% Fibonacci retracement of the prior advance before buyers defended the level, establishing it as the line in the sand for the entire corrective structure since the October $56.41 bottom.50-Day Convergence as CatalystThe steadily falling 50-day average is now ...