Volumetric analysis on November 07


Elections in the United States, we can say, were held in accordance with expectations. Is it good or bad? Rather, it is good, because otherwise we would see greater market volatility associated with changes in market expectations and unclear prospects. Of course, it is still too early to sum up, because there is news of the likelihood of shocking markets. And it is rather big. And besides, the counting of votes took place outside the main trading sessions. The European session and the USA have not opened yet. And it is quite probable that impulsive movements and any provocations are possible. Therefore, we propose to be as careful as possible, and those who consider themselves impulsive and not disciplined, generally suggest not to work on this day. For trading ideas, we choose tools where the trend structure stands out quite clearly. English pound quotes fit quite well, as the price rises for several days in a row and has great support in the price range of 1.3040-1.2940. The task is to wait for a corrective decline in the area of ​​1.3040-1.2940 or an intermediate 1.3095-1.3065, to find a buy signal and to buy, based on growth to 1.3180. The decrease of prices below 1.2940 will talk about the trend reversal.


Oil again fell in price due to a revised forecast by the US Department of Energy, which raised its forecast for oil production in 2018 and 2019. And again, we are faced with excessive supply in the market. But do not forget that Trump promised to lower the oil quotes for the elections, which was done. And it is quite possible that all the news about surplus in the market is not real. This means that the uncertainty increases that the trend will stop, and maybe it will completely turn up. However, it is worth looking at the market structure. The maximum volumes are in the price range of 66-67.95, and only overcoming the 67.95 will indicate a trend reversal. Also note that there is a balance in price zone of 62.70-64.30, and from the point of trading, the sale from this range is a priority. Therefore, we are waiting for correctional growth in resistance, we are looking for good points of entry into the sale and look forward to a decline to yesterday's minimum and, in the future, further down, and the appearance of the price above 64.30 will indicate a weak trend.


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Care. The provided market analysis materials are a professional opinion of an associate of ARUM CAPITAL. These materials are provided for infomation purposes only. In no way can the provided analysis be considered as an action signal, neither is it any sort of investment advice (for the purposes of EU Directive 2004/39/EC). ARUM CAPITAL waives any liability for the trading results which may arise after using these reviews. These materials contain NO warranties or guarantees, either direct or implicit, on the precise, complete or confirmed character of the details they contain.

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