SGT Chart Book
Happy Easter all!
The major theme across asset classes has been a consolidation of recent ranges, with the exception of the surprise OPEC production cuts, oil gapping up at last week’s open and silver breaking out from a series of lower tops with trendline resistance breaking at the 24.10/15 area.
BTCUSD
Another week of consolidation with the ranges identified on the 4-hour chart, boundaries $28,800 and $26,600 define the trading range. What’s going to break us out?
EURGBP
A continuation of the consolidation theme with upside resistance seen at 0.8800/10 and 0.8870 and support at 0.8720.
US10Y
The market continues to trace out the down-sloping channel.
XAGUSD
Silver has broken up through the well-defined down trendline resistance we identified last week. Initial rallies peaked around the $25 per ounce level, while indicators look a little extended and we may need to see some sideways action before further gains.
WTI Crude Oil (USOIL)
OPEC surprises last weekend with production cuts, which quickly changed the short-term outlook.
A new level to watch on the upside is around the $83.50 level.
Disclaimer
Trading Desk Observations are not trade recommendations. The purpose of these charts is to bring to your attention potential chart patterns you may wish to monitor.
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