NZDCAD Trend Line Breakdown Momentum Awaiting Retest
NZDCAD recently broke down from a long-standing ascending trend line that had guided price higher since early July, confirming a shift in momentum.
NZDCAD recently broke down from a long-standing ascending trend line that had guided price higher since early July, confirming a shift in momentum.
WTI crude oil has carved out a steep rally since late August, climbing from lows near $80.18 to a recent high of $93.05 before easing off to trade around $91.67.
Natural gas has been climbing steadily inside a well-defined ascending channel since late August, with rising lows and rising highs keeping the broader uptrend intact.
NZDUSD has broken down below the rising trend line that had guided its climb since early July, with price also slipping beneath the 100 SMA in a signal that the broader uptrend may be losing steam.
WTI crude oil appears to be breaking out of a long-term symmetrical triangle, as price recently punched above the descending trend line that’s been capping rallies since the March highs.
Natural gas has been climbing within a well-defined ascending channel, with price recently tagging the channel top near the $3.015 mark before stalling.
EURAUD recently broke down from a descending triangle pattern, with price slipping below the horizontal support that had been holding since late June near the 1.6268 mark.
WTI crude oil recently broke out of a symmetrical triangle pattern to the upside, with price surging past the converging trend lines that had been compressing the range since early August.