OIL.WTI
We will start today's analysis with the crude oil chart, where volatility has recently increased. Looking at the D1 interval, OIL.WTI hit a key resistance level today at $ 88.40 which is marked with the EMA50 and the upper limit of the 1:1 structure. If this resistance is negated, the upward movement may accelerate further. On the other hand, if sellers manage to regain control another downward impulse towards recent lows at $76.20 may be launched.
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OIL.WTI interval D1. Source: xStation5
DE30
Looking at the DE30 in the D1 interval, it can be seen that price broke above the key resistance zone around 12410-12530 pts yesterday. However today market bulls were unable to uphold upward momentum and the index pulled back. If the price returns below the aforementioned zone during tomorrow's session, a resumption of the downward trend will be possible. On the other hand, if market sentiment improves, the level of 12 790 points, where the upper limit of the 1: 1 structure is located, should be considered as a major resistance.
DE30 interval D1. Source: xStation5
GBPJPY
Finally, let's look at the chart of the GBPJPY pair, which has seen significant price movements in recent days. As for the H1 interval, pair is currently testing major short-term support around 162.70 which coincides with EMA100. In case of break lower, the next noteworthy support is located around 161.10, near the lower limit of the 1: 1 structure. According to the Overbalance methodology, only a break below this level could lead to reversal of the main trend.
GBPJPY interval D1. Source: xStation5
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