DAILY TECHNICAL ANALYSIS 16/11/2022

BTCUSD

BTC is still trading between the 0.5 and 0.618 Fibonacci levels at 13927.50 and 19714.49 respectively even after last week's 21% drop.

The bulls are constantly waiting for an imminent reversal with a target price at the 0.786 level or the 32664.42 price, which has not been seen since the beginning of May this year.

On the other hand, the bears are trying to push the price to the 0.382 level with a target price at 9910.61.

The index of fear and greed is 21 Extreme Fear from 22 yesterday.

Today the levels to keep an eye on are:

13927.50, 17146.41, 19294.65, 19.492.94, 19714.49, 20031.16.

DAX40

Yesterday the Dax climbed to a peak of 14444.500 points before quickly correcting to 14128.300. It could be the worse-than-expected German data that intimidates even if it is more likely a moment of consolidation in the price level.

From a graphic point of view it is difficult to hypothesize a bearish trend reversal. Only a drop below 13640.710 could represent the beginning of a remarkable descent.

Today the levels to keep an eye on are:

13640.710, 14370.900, 16290.370

WTI

WTI after rebounding from the monthly low returned to its passes this morning, dropping to 86.015.

A U-turn can be observed with the bears trying to push above the strong support level of 84.704. Should they exceed this level, the new limit would be at 79,550 with confirmation of the bearish double top pattern.

In the opposite direction there is a resistance immediately close to 86.943 which could frustrate the action of the bulls with a target price close to the monthly high of 90.

Today the levels to keep an eye on are:

79,550, 81.268, 83.654, 84.704, 85.625, 86.943