WTI Crude Oil faces continued downward pressure after breaking below $90.00 and the 100 and 200 simple moving averages, while gold consolidates above $4,000 and Bitcoin settles under $75,000.
WTI settled below $90.00, the 100 and 200 simple moving averages on the 4-hour chart, and traded as low as $84.11 after failing to hold above $100.00. The bearish trend line with resistance at $87.50 points to continued downside pressure, with a break below $80.00 opening a move toward $76.50 and $70.00. A close above $92.00 would invalidate the bearish setup and target $95.00.
Gold has entered a consolidation phase above the $4,000 handle, with bulls holding back after failing to clear the $4,120 resistance zone. This describes a pause rather than a decisive directional move, so no strong near-term price signal follows from it.
Bitcoin slowly moved lower and settled below $75,000, a mild continuation of its decline that the site's Elliott Wave analysis had anticipated. The move is described as slow rather than a sharp break, so the immediate directional impact is limited.
WTI Crude Oil has entered a short-term bearish zone after failing to hold above $100.00, settling below the $90.00 level and both the 100 and 200 simple moving averages on the 4-hour chart. Prices traded as low as $84.11, with a bearish trend line resistance at $87.50 limiting upside potential. Meanwhile, gold remains in a consolidation phase above $4,000, and Bitcoin has drifted lower to settle below $75,000.
The price failed to stay above $100.00, dropped below $92.00 and $90.00, and fell as low as $84.11, settling beneath the 100 and 200 moving averages on the 4-hour chart, which puts it in a short-term bearish zone.
A close above $92.00, which coincides with the 23.6% Fibonacci retracement of the fall from $105.60 to $84.11, could send prices toward $95.00 and then $100.00.
No, the article describes gold as consolidating above $4,000 after failing to break the $4,120 resistance zone, which suggests the bulls are holding back rather than pushing prices higher.
Bitcoin slowly moved lower and settled below $75,000, extending a decline that the site's Elliott Wave analysis had previously anticipated.