WTI Crude Oil turned bearish on its 1D technical outlook (RSI = 39.681, MACD = -1.020, ADX = 30.568) but remains neutral on 1W (RSI = 46.231) as it is approaching again the 1W MA200. That is a critical Support as not only it is untouched since February 5th but is the long term level that Oil has been bouncing aggressively on since March 2023. We look towards a...
Nasdaq delivered the expected pullback which was validated when it crossed under the 4H MA50. Today it almost reached the 1D MA50, which is also where the 4H MA200 sits, turned momentarily bearish on the 1D technical outlook (now neutral/ RSI = 47.140, MACD = 151.030, ADX = 59.182) and the 1D RSI achieved symmetry with the December 6th 2023 Low. We still expect...
Super Micro Computer is neutral on its 1W technical outlook (RSI = 53.442, MACD = 90.250, ADX = 30.355) and the reason is that below the 1W MA50 it is expanding the new Cycle's accumulation phase. Every Cycle experienced this accumulation under the 1W MA50, sometimes shorter others longer. Technically, on a two year basis, every time it crossed under the 1W MA50...
Ethereum is on very balanced bullish technical levels on the 1W timeframe (RSI = 65.615, MACD = 296.600, ADX = 38.829) suggesting a healthy, sustainable uptrend. Just a few days after the ETF approval, ETH is breaking out of the March-April correction and in comparison with the previous Cycle, has completed step <7>. This is taking it out of the accumulation curve...
The S&P500 index is on very healthy bullish levels on the 1D timeframe (RSI = 63.385, MACD = 146.190, ADX = 48.596) showcasing in the best possible way the bullish bias of the long term trend and pattern, which is a Channel Up. This month's pullback is perhaps the best buy entry we can have as in relative terms based on the 1W CCI, the index is printing a...
Bitcoin is on excellent bullish levels on the 1D technical outlook (RSI = 66.472, MACD = 251.100, ADX = 42.204). Following the correction of the last two months, the market has entered the green zone of the Cycle, which is its parabolic phase. This historic chart on the 1W timeframe shows that this phase lasts around 560 days while the previous blue one, which...
Dow Jones may have turned red on its 1D technical outlook (RSI = 35.469, MACD = -17.010, ADX = 38.217) but it is only neutral on 1W (RSI = 52.498) suggesting that on the long run, these are strong buy levels from a R/R perspective. Two weeks ago we called the current pullback to 38,550 as a possibility but now it is time to turn bullish again. As you can see, on...
USDCHF is borderline bullish on its 1D technical outlook (RSI = 57.216, MACD = 0.002, ADX = 24.748) but still inside the 2024 Channel Up. As long as the 1D MA50 supports, we will stay bullish along with the trend, especially since the 1D MACD formed another Bullish Cross. Despite the presence of the R1 level, the bullish waves of the Channel Up have been clear and...
Natural Gas is only marginally bullish on its 1D technical outlook (RSI = 56.609, MACD = 0.187, ADX = 40.616) as it failed to cross over the LH trendline. At the same time, it is supported on the 1D MA200 having broken out for the first time since January 3rd. Long-term we remain slightly bullish on NG but on the short-term, we will wait for LH validation. If the...
Chiliz is heavily bullish on the 1D timeframe (RSI = 68.274, MACD = 0.005, ADX = 21.056) as it is trading considerably higher than the 1D MA50. If it crosses over the LH trendline, we expect it to aim for the HH of the Bullish Megaphone. Both HH prior reached the 2.5 Fibonacci extension. We will aim a little under that level (TP = 0.35000), which will be a +125%...
EURUSD has turned bullish short-term on its 1D technical outlook (RSI = 59.604, MACD = 0.002, ADX = 30.311) as it rebounded before the 1D MA50/200 test. This is making a LH, same way it did on March 21st, again after holding the 1D MA50/200. Similarly, the 1D RSI us on the MA period. A rejection today validates the fractal bias of happening again. In that case, we...
Gold is neutral on its 1D technical outlook (RSI = 50.016, MACD = 12.800, ADX = 25.902) as it completed today the second green 1D candle in a row. We don't think that the current bearish wave of the 1 month Channel Up has bottomed yet, since the HL trendline is a little lower around 2,315. We are prepared to buy after the 1D RSI crosses over its MA trendline and...
Silver is almost overbought on its 1D technical outlook (RSI = 68.691, MACD = 1.067, ADX = 40.719) as it reversed last week's minor pull-back. Being supported on the 1D MA50, the current Bullish Megaphone pattern is aiming for its top. We are expecting a +33.66% rise (TP = 34.500), same as the first Bullish Wave. ## If you like our free content follow our...
USDCAD is neutral on its 1D technical outlook (RSI = 50.081, MACD = 0.001, ADX = 32.778) as it formed a Lower High yesterday and today got sold aggressively. This is a Channel Down since the April 16th High, which having broken under the 1D MA50, has confirmed the continuation of the bearish price action. We expect the 1D RSI to at least hit the 30.000 level, as...
Eli Lilly is on a very steady bullish technical outlook on the 1D timeframe (RSI = 62.145, MACD = 9.380, ADX = 18.580) as it has been trading inside a Channel Up since January 2023. The current bullish vessel within this pattern is a Rising Wedge. As you can see, the two Wedges prior have a last break under the 1D MA50 before rallying to a HH at the top of the...
Bonk is on the strongest 1W candle since February 26th 2024, with the 1W RSI having completed a bullish cross over its MA level the previous week. We are practically on the same symmetric bullish wave as then. Our target remains intact on the 1.236 Fibonacci extension (TP = 0.0000650). See how our prior idea has worked out: ## If you like our free content...
GBPJPY is almost overbought on its 1D technical outlook (RSI = 69.343, MACD = 1.720, ADX = 59.150) and is extending the bullish wave inside the 16 month Channel Up. The overbought technicals shouldn't be a factor for a bearish reversal as long as the 1D MA50 continues to support. We are confident with buying, aiming at the top of the Channel Up (TP = 208.000). ...
Gold has turned bearish on its 4H technical outlook (RSI = 42.104, MACD = 6.500, ADX = 34.412) as it crossed today under its 4H MA50. This is the first time it does so after going that high since April 22nd. That was the start and validated sell signal for the Bearish Wave of the Channel Up. Consequently, we go short on Gold, aiming like then, at a -5.20% decline...