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Investment Recommendations April 26th

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Oil: Short-Term Sell

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WTI Crude Oil Futures, 4-Hour Chart Analysis

The crucial commodity hit the $49 per barrel level at the end of last week, and since then has been in a weak correction that took it up to the crucial $50 level. The global rally in risk assets and the weakness of the Dollar wasn’t enough to cause a bounce in oil, and this relative weakness hints on a new leg lower in the short-term downtrend.

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The re-test of the $47.10 low looks likely if the commodity dips below $48.75 with no strong support level found below that. Short-term traders should place a stop-loss order above the $51.00 resistance, while the $51.80 level provides a good opportunity for longer-term traders. Long-term shorts could be boosted by the negative fundamental developments for oil.

Bitcoin: Long-Term Buy (update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin has surpassed our long-term target, and it’s now testing its all-time high. Trading volumes are on the rise and volatility is expected to rise further in the next couple of days. Those traders who opt to hold a long-term position after reaching the target zone might consider placing the stop-loss below the $1215 level, while the $1145 level is also a good choice for a broader stop. Also read: Urgent Analysis: Bitcoin is at a Double Top + Ripple & Monero

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Cryptocurrencies

Trade Recommendation: Qtum

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The price of Qtum has bounced from the support zone formed by the 0.035000 support level and Senkou B line of the Ichimoku indicator. The DMI confirms trend market conditions and allows opening long trades. We have a trading opportunity. Pending orders for buy should be placed at 0.037800 level with stop orders at 0.034000 level. The main profit target is 0.050000 level. The part of trade volume can be left for the long run. If you don’t use leverage, the recommended trading volume for this trade is up to 5% from your deposit.

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Market: QTUMETH
Buy: 0.037800
Stop: 0.034000
Profit Targets: 0.050000

The trading signal is based on Bittrex chart.   

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Cryptocurrencies

Trade Recommendation: Waves

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The market moved lower and we have to search for a new trading opportunity. Now we have a possible support zone at 0.000600 level. RSI confirms price reversal. MACD histogram supports the upward movement. Bullish divergence gives a trend reversal signal. We have a new high which can be used for placing buy orders. Entry level is 0.000720 with stop orders at 0.000550 level. Profit targets are 0.001000 and 0.001300 levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Market: WAVESBTC
Buy: 0.000720
Stop: 0.000550
Profit Targets: 0.001000 and 0.001300

The trading signal is based on Bittrex chart.  

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Cryptocurrencies

Trade Recommendation: Ethereum

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The price bounced from 300.00 level. RSI and a reversal candlestick pattern confirmed price reversal. MACD supports upward movement and DMI allows opening long trades. Pending orders for buy should be placed above the local swing at 318.00 level. Stop orders should be placed below 300.00 support at 286.00 level. Profit targets are 350.00 and 390.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

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Market: ETHUSD
Buy: 318.00
Stop: 286.00
Profit Targets: 350.00 and 390.00

The trading signal is based on Poloniex chart.

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