*** Comments prior to evaluation summary ***
An enveloping bar formed in the market the week. This can have an impact coming into the new week. The envelope indicated a desire to move toward 43 - 45. As always this is dependent on if the strength and attitude continue.
A measurable event was triggered on Friday (daily) indicating a desire to break for 41.50
The weekly stochastic is not indicating any weakness. The stochastic may begin to bounce in the "overbought" as it consolidates strength in order to attempt a push back thru 50. Last months (monthly chart) has a trigger indicating 48. While the single bar analysis of last month also indicated 46.
So don't be surprised if we see a "pause" enter the market between 45 - 50.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 7.39 points/ticks/pips. Prices are currently .57x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 34.38 and 40.49.
While in consolidation the trade range may decrease to 4.326 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 27.13 to 51.71 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 34.85 to 43.99 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move first toward 43.19 before moving toward 45.52
If strength and attitude continue, it could take between 1 - 2 trade periods (weeks) for the first projection and 1 - 2 to reach the second projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 60.00% are bullish, 0.00% are bearish, 40.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades
An enveloping bar formed in the market the week. This can have an impact coming into the new week. The envelope indicated a desire to move toward 43 - 45. As always this is dependent on if the strength and attitude continue.
A measurable event was triggered on Friday (daily) indicating a desire to break for 41.50
The weekly stochastic is not indicating any weakness. The stochastic may begin to bounce in the "overbought" as it consolidates strength in order to attempt a push back thru 50. Last months (monthly chart) has a trigger indicating 48. While the single bar analysis of last month also indicated 46.
So don't be surprised if we see a "pause" enter the market between 45 - 50.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 7.39 points/ticks/pips. Prices are currently .57x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 34.38 and 40.49.
While in consolidation the trade range may decrease to 4.326 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 27.13 to 51.71 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 34.85 to 43.99 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move first toward 43.19 before moving toward 45.52
If strength and attitude continue, it could take between 1 - 2 trade periods (weeks) for the first projection and 1 - 2 to reach the second projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 60.00% are bullish, 0.00% are bearish, 40.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades