USOIL (WTI) Trades Marginally as Buyers and Sellers Reach a Period of Indecision

USOIL (WTI) Trades Marginally as Buyers and Sellers Reach a Period of Indecision

Key Resistance Levels: $66.00, $70.00, $74.00
Key Support Levels: $48.00,$44.00,$40.00

USOIL (WTI) Long-term Trend: Ranging
USOIL was earlier in an uptrend. WTI faced rejection at $67.50 resistance. The market declined to a $57.50 low and resumed a range-bound move. Presently, WTI is fluctuating between levels $57.50 and $67.50. Since March 18, USOIL has been in a range-bound movement.

USOIL – Daily Chart

Daily Chart Indicators Reading:
USOIL (WTI) is at level 46 of the Relative Strength Index period 14. It indicates that WTI is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping horizontally indicating the uptrend.

USOIL (WTI) Medium-term bias: Ranging
On the 4 hour chart, WTI price is also in a sideways trend. The market is fluctuating between levels $58 and $62. WTI price is in a choppy price action. The market is not trending. The price action is characterized by small indecisive candlesticks.

USOIL – 4 Hour Chart

4-hour Chart Indicators Reading
WTI price is below the 75% range of the daily stochastic. The market is in a bearish momentum The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend.

General Outlook for USOIL (WTI)
USOIL (WTI) is presently is in a range-bound. Today, WTI price is falling and it is approaching the lower price range. The price action is characterized by small body candlesticks called Doji and spinning tops. The candlesticks indicate that buyers and sellers are undecided about the direction of the market.


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EURJPY Recovers From 130.00 Level, Yen Under Pressure as US Yields Rise

EURJPY Recovers From 130.00 Level, Yen Under Pressure as US Yields Rise

EURJPY Price Analysis – April 9

During Friday’s European session, the EURJPY picks up steam from the prior day’s recovery at the 130.00 level and continues to pursue higher levels around the 131.00 regions. The pair will have to overcome a 130.66 upside barrier to improve its traction towards the 131.00 level. The firm daily recovery in US yields supports a selling bias around the Japanese safe haven, bringing the EURJPY cross closer to its yearly highs around 130.66.

Key Levels
Resistance Levels: 131.50, 131.00, 130.66
Support Levels: 129.56, 128.29, 127.50
EURJPY Long term Trend: Bullish
As seen on the daily chart, EURJPY has so far managed a 130.67 high; further strength eyes 131.00 high level, which can smoothen the path up towards the key markers of 132.06 and 134.42 levels. The pair is currently trading at 130.43, up 0.24 percent, and a break above the 130.66 resistance zone would take it to 131.00, a new year high.

Initial support, on the other hand, is at 130.00, followed by 129.56 (the prior day’s low) and finally 128.29. (March low). In the meantime, the rise from 114.39 is seen as a medium-term phase of growth within a long-term consolidation pattern. As long as the support level at 119.31 remains unchanged, steady growth is predicted.
EURJPY Short term Trend: Bullish
So far, the EURJPY pair has been unable to break through resistance at 130.66 level, and the intraday bias remains neutral. On the downside, a break of minor support at 129.56 level would extend the consolidation from 130.66 level and result in a new drop.

On a break of the 128.29 support level, the intraday bias will be switched back to the downside. However, the downside should be contained above the 127.50 resistance level, which has now turned into support. A decisive breach of 130.66 level on the upside will restart the entire rally from 114.39 level.

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GBP/JPY Continues Its Downward Move, May Find Support at Level 149.57

GBP/JPY Continues Its Downward Move, May Find Support at Level 149.57

Key Resistance Levels: 150.000, 152.000, 154.000
Key Support Levels: 146.000, 144.000, 142.000

GBP/JPY Price Long-term Trend: Bullish
GBP/JPY is in an uptrend but currently faces rejection at level 153.00. The pound is falling after rejection at the recent high. The pound price has broken the 21-day SMA and it is approaching the 50-day SMA. A break below SMAs will accelerate the selling pressure. However, if price found support above the 50-day SMA, the pair will resume the uptrend.

GBP/JPY – Daily Chart

Daily Chart Indicators Reading:
The currency pair has fallen to level 46 of the Relative Strength Index period 14. This indicates that the pair is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the previous trend.

GBP/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in a downtrend. The pound retested the level 151.00 to resume the downtrend. Meanwhile, on April 8, a downtrend; a retraced candle body tested the 618% Fibonacci retracement level. The retracement level indicates that the Yen will fall to level 1.618 Fibonacci extensions or level 149.57.

GBP/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The GBP/JPY pair is below the 40% range of the daily stochastic. The market is in a bearish momentum. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for GBP/JPY
The GBP/JPY pair is still likely to fall as it approaches the oversold region of the market. According to the Fibonacci tool, the currency pair will fall to level 1.618 Fibonacci extension or level 149.57. From the price action, the pound has fallen to level 149.80.



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Binance (BNBUSD) Price May Increase to $485 Provided $420 Level Does Not Hold

Binance (BNBUSD) Price May Increase to $485 Provided $420 Level Does Not Hold

BNBUSD Price Analysis – April 09

Further price increase is envisaged as long as bulls maintain or increase their momentum and the resistance level of $420 level is penetrated, then, the resistance level at $485 and $545 may be tested. The breakdown of the $364 price level will expose the coin to $311 and $254 price level.

BNB/USD Market
Key levels:

Supply levels: $420, $485, $545

Demand levels: $364, $311, $254

BNBUSD Long-term Trend: Bullish

BNBUSD is bullish on the daily chart. The coin was obeying the command of the bears last week; in other words it was on the bearish movement. It was on March 27 that the bulls gained more momentum to break up the former resistance level of $311. The bullish momentum increases towards the resistance level of $364, it breaks it up and the price level of $420 is tested.

BNBUSD Daily chart, April 09

Today, the bearish daily candle emerges which may leads to pullback of the price. The Binance coin has crossed the two EMAs upside and it is trading above the 9 periods EMA and the 21 periods EMA. However, the former EMA has crossed the later which is an indication that bulls’ momentum is increasing. Further price increase is envisaged as long as bulls maintain or increase their momentum and the resistance level of $420 level is penetrated, then, the resistance level at $485 and $545 may be tested. The breakdown of the $364 price level will expose the coin to $311 and $254 price level. However, the relative strength index period 14 with its signal line is at 70 level pointing up as a sign of buy signal.

 BNBUSD medium-term Trend: Bullish

BNBUSD is bullish in the 4-hour chart. The bulls take over the Binance coin market after the bearish breakout last two weeks. The crypto increases in accordance with the increase in the bulls’ momentum. The former resistance levels of $311 and $364 has turned to support levels. The price is currently at $420 level.

BNBUSD 4-hour chart, April 09

The price is trading above the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is pointing up at 70 levels indicate a buy signal.

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Polkadot (DOT) Breaks Resistance At $40, Resumes Uptrend

Polkadot (DOT) Breaks Resistance At $40, Resumes Uptrend

Key Resistance Levels: $40, $42, $44
Key Support Levels: $30,$28,$26

Polkadot (DOT) Price Long-term Trend: Bullish
On April 2, buyers pushed DOT price above the $40 resistance. The altcoin rallied to $46.74 high but was resisted. With this breakout, the crypto has broken the range movement of February 20. However, for the past 48 hours, the coin fell to the previous low above $40 and it is resuming upward. The upward move is facing another rejection at the $42 high. Buyers are currently defending the $40 support level. On the upside, if buyers clear the $42 resistance, the market will rally above $53 high. Conversely, if the bears break the $40 support, DOT will fall into the range-bound zone. Perhaps the coin will retest the previous low at $28.

DOT/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend. DOT has risen to level 57 of the Relative Strength Index period 14. DOT is in the uptrend zone and above the centerline 50.

Polkadot (DOT) Medium-term Trend: Bullish
On the 4-hour chart, the altcoin is making an upward move. DOT price broke the $40 resistance but retraced back to the $40 support. Meanwhile, on April 3 uptrend, a retraced candle body tested the 61.8% retracement level. This retracement indicates that DOT is likely to rise to level 1.618 Fibonacci extension or the high of $58.32.

DOT/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The altcoin is above the 80% range of the daily stochastic. The stochastic bands are sloping downward. It indicates that DOT is in the overbought region. Sellers are likely to emerge in the overbought region. The SMAs are sloping upward indicating the uptrend.

General Outlook for Polkadot (DOT)
Polkadot (DOT) price is likely to trend upward if bulls clear the resistance at $42. The crypto’s price is above the 21-day and 50-day SMAs which indicates a possible rise of the coin.

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S&P 500 Heads Beyond the 4100 Level on a Global Economic Rebound

S&P 500 Heads Beyond the 4100 Level on a Global Economic Rebound

S&P 500 Price Analysis – April 8

S&P 500 renewed its year high by rising above 4100 at the time of this post. The index is consolidating under a new record high of 4102.5, posted after a 0.12% rally on Thursday, sparked by positive market sentiment. The global economy jumped as optimism about rapid growth surpassed geopolitical risks.

Key Levels
Resistance Levels: 4300, 4200 4100
Support Levels: 4000, 3900, 3800
S&P 500 Long term Trend: Bullish
The S&P 500 has gained ground after a month of strong negative sessions, with the RSI indicator turning up and establishing a bullish crossover towards its overbought territory. Currently, the price found resistance at the horizontal line at 4100 levels and the price is moving is still trending to flip the resistance into support.

A close beyond 4100 remains in the picture, indicating the level as possible solid support. Meanwhile, the 4000 levels are likely to act as support on the downside. Trading above this region will help to hold the emphasis to the upside, towards the 4200 levels. If the index fails to close the day above the 4100, which is currently seen as a fresh zone for the bulls, the level at 4000 could support the buying pressure to remain intact.
S&P 500 short term Trend: Ranging
On the four-hour time frame, price action has broken through the 4100 resistance line but eased to 4089 near-term lows. A break beneath the 4-hour MA 13 at the bottom invalidates the bullish run, while sustained trading above the 4100 top confirms the uptrend. On the downside, if the S&P 500 succeeds to break lower through the MA 5 and MA 13 confluence zone, it can fall to the 4000 levels.

Otherwise, if sellers fail to drive the S&P 500 below to the key 4000 levels and the 4-hour moving average 5 and 13 it may increase the risk of a move higher towards the 4200 levels. In the event selling interest persists, the key support region of 3950 and the 3900 levels, which overlaps with the ascending trendline from March could halt the decline.

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Uniswap (UNIUSD) Price; Bears’ Momentum Gradually Increasing, $24 Price level May be Reached

Uniswap (UNIUSD) Price; Bears’ Momentum Gradually Increasing, $24 Price level May be Reached

Uniswap Price Analysis – April 08

In case the bulls successfully gain more pressure and push the price below $29 support level, Uniswap price may reduce to $24 and $21 price level. Should the bulls gain more momentum and push up the price above the resistance level of $34, then, the resistance level of $39 and $44 may be tested.

UNI/USD Market
Key Levels:

Resistance levels: $34, $39, $44

Support levels: $29, $24, $21

UNI/USD Long-term Trend: Bearish

On the long-term outlook, Uniswap is bearish. The crypto formed a double top chart pattern last week on daily chart. The price is expected to be under the bears but there is an interruption from the bulls preventing downtrend movement, this is what made the price to experience ranging movement. Nevertheless, the sellers’ pressure outweigh the buyers’ pressure. The price reduction is envisaged in the Uniswap market.

UNIUSD daily chart, April 08

The 9 periods EMA is struggling to cross the21 periods EMA downside and Uniswap is trading below the two EMAs at close contact which indicate that low volatility market. In case the bulls successfully gain more pressure and push the price below $29 support level, Uniswap price may reduce to $24 and $21 price level. Should the bulls gain more momentum and push up the price above the resistance level of $34, then, the resistance level of $39 and $44 may be tested. The Relative Strength Index is bending up at 40 levels which indicate a sell signal which may be a pullback before bearish movement continue.

UNI/USD Medium-term Trend: Bearish

Uniswap is bearish in the 4-hour market. The price decreased to the support level at $24 last week. The price pulls back to retest the resistance level of $29. At the moment, the bears are preparing to take over the market. The price action on the 4-hoiur chart has form a “double top” chart pattern. This is a bearish signal; the price may descends and penetrate the $29 price level downside and the support level at $24 may be tested.

UNIUSD 4-hour chart, April 08

Uniswap is hovering over and around the two EMAs as a sign of ranging movement. However, the relative strength index period 14 is pointing down at 43 levels indicates a sell signal.

 

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USD/JPY Slumps to Level 109.47, May Resume Up Trending

USD/JPY Slumps to Level 109.47, May Resume Up Trending

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
The USD/JPY pair has continued its upward move but it is currently facing rejection from level 111.00. The pair is retracing and has found support above the 21-day SMA. Meanwhile, on March 31 uptrend; a retraced candlestick tested the 50% Fibonacci retracement level. The retracement implies that the Yen will rise to level 2.0 Fibonacci extension or level 113.49.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 57 of the Relative Strength Index period 14. The pair is in the uptrend zone and above the centerline 50. The 21-day SMA and 50-day SMA are sloping northward indicating the uptrend.

USD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the pair is in a downward move after rejection from level 111.00. On April 5 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. It indicates that the market will fall to level 2.0 or level 109.17.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair has fallen below the 20% range of the daily stochastic. It indicates that the pair is in a bearish momentum. It also indicates that the market has fallen to the oversold region. The 21-day and 50-day SMAs are sloping downward indicating a downtrend.

General Outlook for USD/JPY
The Yen has been in a downward move. From the price action, the Yen has fallen and it is testing the 2.0 Fibonacci extension or 109.47 low. The pair will resume an uptrend if the current support holds. The market will decline to level 108.40 if the selling pressure persists.


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Dogecoin (DOGE) Continues Fluctuations Between $0.050 and $0.070, Targets the $0.072 High

Dogecoin (DOGE) Continues Fluctuations Between $0.050 and $0.070, Targets the $0.072 High

Key Resistance Levels: $0.09, $0.10, $0.11
Key Support Levels: $0.03, $0.02,$0.01

DOGE/USD Long-term Trend: Ranging
DOGE price is presently rising in a confined range. The crypto’s price is fluctuating between $0.050 and $0.070. On March 31, the bulls attempted to break the $0.070 resistance but were repelled. On the upside, if the bulls break the resistance, the uptrend will resume. Otherwise, the range-bound movement will continue within the confined range.

DOGE/USD – Daily Chart

Daily Chart Indicators Reading:
DOGE price is at level 57 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and capable of rising. The 50-day and 21-day SMAs are sloping horizontally indicating the range-bound movement.

DOGE/USD Medium-term bias: Ranging
On the 4 hour chart, the crypto price is fluctuating. DOGE price is facing rejection at the $0.066 resistance. The market will fall each time price tested the resistance. Meanwhile, on April 6 uptrend, a retraced candle body tested the 50 % Fibonacci retracement level. The retracement indicates that DOGE will rise to level 2.0 Fibonacci extension. That is the high of $0.072.

DOGE/USD -4 Hour Chart

4-hour Chart Indicators Reading
DOGE is above the 25% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The coin has a bullish crossover, that is, the 21-day SMA crossing over the 50-day SMA. This indicates a bullish signal. The 21-day and 50-day SMAs are sloping upward.

General Outlook for Dogecoin
DOGE price is still trading within a confined range. Buyers are pushing price to the resistance level. The market will resume an uptrend properly if the resistance level at $0.70 is breached. DOGE is trading at $0.061 at the time of writing.

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FTSE 100 (UKX) Rallies To Level 6900, May Face Rejection at the Recent High

FTSE 100 (UKX) Rallies To Level 6900, May Face Rejection at the Recent High

Resistance Level: 7500, 7600, 7700
Support Level: 7300, 7200, 7100

FTSE 100 (UKX) Long-term Trend: Bullish
FTSE 100 is in a sideways trend. The index rebounded above level 6750 and it is approaching the resistance at level 6900. The uptrend will resume if the overhead resistance is breached. In the previous uptrend, the overhead resistance could not be breached. Meanwhile, on the March 16 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. This implies that the market will rise to level 2.0 Fibonacci retracement level or the high of level 7060.20.

UKX – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping upward indicating the trend. The index has risen to level 64 of the Relative Strength Index. UKX is approaching the overbought region of the market. The index has limited room to rally on the upside.

FTSE 100 (UKX) Medium-term Trend: Ranging
On the 4 Hour Chart, FTSE 100 is also in an uptrend. The index price has reached the overbought region and it is facing resistance. On March 30 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. It indicates that the index will reach level 1.618 Fibonacci extension or the high of level 6897.20.

UKX – 4 hour Chart Chart

4-hour Chart Indicators Reading
FTSE 100 is above the 80% range of the daily stochastic. It indicates that UKX is in the overbought region. The market is expected to fall as it reaches the overbought region. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for FTSE 100 (UKX)
FTSE 100 (UKX) has risen to the overbought region of the market. Since January, the bulls are yet to break level 6900. The market has always been overbought at the overhead resistance at 6900. Today, UKX is trading at level 6885.30 at the time of writing.


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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.