OIL.WTI
Today's analysis will start with the oil market. Looking at the chart of OIL.WTI, we can see a potential broad ABC simple correction pattern. Currently, the price has reached a key support - the zone at the level of 85.00, which stems from the previous price reactions from the end of 2021 and measuring 127.2% of wave B of the aforementioned simple correction. If buyers managed to stop the downward movement here, and push the price above the 92.50 zone, a resumption of the upward trend will not be excluded. On the other hand, negation of the support zone at 85.00, could trigger a downward movement even towards 73.74, where the 161.8% retracement of wave B is located.
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OIL.WTI D1 interval. Source: xStation5
DE30
Next, let's look at how the situation on the German DE30 index looks. Looking at the D1 interval, today there was a clear pullback and a breakout below the local trendline. If the current sentiment continues, an attack on the support zone of 13400 - 13350 points is possible, which is derived from the lower limit of the 1:1 system (red rectangles) and previous price reactions. Negation of this zone, on the other hand, could lead to an acceleration of the discount towards the round level of 13000 points. On the other hand, a return of the price above 13800 points, could change the scenario to an upward one. Then there would also be a chance to realize the range of a broad inverted head-and-shoulders structure (purple rectangles).
DE30 H4 interval. Source: xStation5
US100
Finally, let's check the technical situation on US100, where sellers also took the initiative today. Looking at the D1 interval, the quotes bounced off the 61.8% Fibonacci measure, which was set on a downward wave that has been in place since early April. If the declines continue, we should take the broken trendline as support, and then the level of 12875 points, where the lower limit of the 1:1 system and previous local peaks fall. Breaking below this level, would mean a return of the index to the downtrend.
US100 D1 interval. Source: xStation5
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