Sinex

Sinex

Oil shows a significant amount of negative divergence on the 1hr time frame. Caution here. This might be the sell off.

Sinex Updated 

Time to cover. The fear for now is gone. This ugly chart just shows my thought process and thought I'd leave it as it is. Not pretty but It is remarkably accurate in what the outcome was. A fantastic month so far.

Sinex

Gold similar to oil conitnues to drag its feet and move in an ascending (bearish) pattern by making higher highs and then correct strongly downward. This zigzagging price action OFTEN indicates WEAKNESS. Gold is ALWAYS mistaken to be a safe haven when times are tough for the general markets. Well this is NOT the case and has not been for most of its modern...

Sinex

The large descending (often bullish) channel in blue continues to suggest that Oil will continue to challenge the above prices. The weekly chart (not shown here) suggests that the trend is getting weaker with the print of TWO LARGE DOJI candles. This does not inspire confidence to buy this and better to just wait for confirmation. The plan continues to be...

Sinex Updated 

Oil is likely in a broadening pennant topping pattern. But it does NOT look complete. I believe it will hit $93.23 there abouts before turning down strongly and for the foreseeable future. The plan is simple wait for price to hit upper blue line. Sell!

Sinex Updated 

Many instruments are showing similar patterns. Cryptos seem to be leading. It would make sense. The most speculative, the highest performing in the last decade likely will lead down. This is only a working hypothesis. Please be kind if you disagree.

Sinex Updated 

Carving out right shoulders in what looks to be inverted complex head and shoulders topping pattern. Good luck everyone.

Sinex Updated 

New information is in and we can redraw the chart a little more. The premise though stays the same. It looks more like a topping pattern and the consolidation (blue arrow) we are encountering now looks remarkably similar to the left shoulder (blue arrow) consolidation. I suspect a strong move down after this consolidation phase. Good luck!

Sinex

For context of how powerful negative divergence can be (or positive divergence for that matter) here we have BTC at its first top this year. To my amazement it recovered, as I thought it would just never get back up again. This is in the daily time frame. Indexes are exhibiting a similar technical condition but in the weekly time frame.