There's a strong support for oil at $37.72 and I believe that will be the bottom in the coming months.
It is only bouncing given the extreme oversold condition and that does not change the fundamental fact of an over supplied oil market and many more that are stored in offshore tankers. I highly doubt the long term log trend in black will hold. (Temporary bottom...
Bulls and bears want (IMO) a retrace up to 2050. Bears want to go short
at a higher price and bulls want to break through the high from earlier
this month. I will be glued to the 30 min and 5 min charts looking for longs.
These are my thoughts and projections on the price at OKCoin.
We may see a little choppy flat motion as well before a solid leading decline. A choppy flat motion usually leads to a steep decline in Bitcoin land, at least in my opinion. If Bitcoin isn't gradually moving up then it is either going down or about to go down.
I typically don't recommend trying to pick bottoms and tops in any market. The unstoppable move lower in crude is very tempting to try and find a bottom when it does happen. I recommend watching the 46.60/48.50 price range if crude gets down there. I think it has potential to hold this massive down trend. I feel confident that when the bottom does hit we will...
You only have the past data plus what is going on now, that is the present to predict the future price action.
So what you need exactly to be a successful trader??
- Well, you need the odds to stack up to pick the right direction of each trade.
- System, method, strategy that generates big winners vs losers.
- Be emotionless by having precise entry / exit...
It is clear the world needs cheaper oil prices not only does this put pressure on those middle eastern countries that were using oil proceeds to fund terrorism but this sends a clear message to the Eastern powers that the world will not stand by idly while foreign nations invade each other to benefit from commodity prices. Commodities are still priced in US...
Volume dried up as the YM approached 18000 and the rally did not move the MACD from it's negative stance although the MACD turned in toward the signal line I think it could roll over (down).
0.764 retrace since the last highs of 69.5. This looks like a pretty good risk reward place to go long until 71.14.
Daily is relatively oversold & unsustainable along with clearer and clearer signs of seller exhaustion.
Previous tests of this level were rejected.
FED Reserve has said they don't want the dollar
to go too high. I believe a shorting opportunity
may be near.
This mini is in need of a pullback but with every hint there's a rally. Friday produced and nice reversal candle on a Daily basis and we passed on the signal. When the algo buying starts you can get trapped quickly. Watch the price ladder...when pullbacks are shallow and aggressively bought be rest assured the algos are in charge. Either get on board with them...
Hi Traders,
GOLD (now at $1134) is fast approaching the predicted target around 1089.
Even in the event of a breakout below this level, the yellow metal should end the downtrend above the area at $1043-32 that seems to be the absolute minimum and it's considered an unbreakable support.
If it's true, this would mark the end of the line for the 38 months...
S&P500 Forecast-ed Move for this week.
ES 12-14 reached 2030 completing the forecast-ed move published at beginning of the week. There is good probability for the market to reach the second boundary 2048-50 today or early next week. So sell stop loss can be moved now below 2028-30 level until the next target is reached either today or next week.
For the short...
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Hi Traders,
The end of the line of the downtrend of Natural Gas (now at 3601) is very much in sight. This sputtering downtrend is to be followed soon by a significant reversal that would mark the beginning of a major uptrend.
The attached 1-hour chart displays the sub-minuette waves 1 and 2 (in green, bottom right) as part of a group of a 5 waves down that...
The ES1! paid us well on our last trade (see post link) The only mistake is we didn't press it into the mid 1800 levels. Now the bounce is on. Here are some levels we are looking at for the next week. If we creep above the second resistance area then the bulls could step in and try to squeeze the bears.
Two down bars at a top with a price gap below $16 makes me think a third down bar will happen.
SUgar market opens tonight around midnight PDT (CALIF) so I will have to set my alarm.......
