If you need a demonstration of how Triangle Patterns work .... Just look at this chart
Will the DAX hold this support zone through this volatile trading week?
Notice that the S&P500 has been rising recently on thin volume. In addition to bearish divergence and harmonic pattern (completion just above 3300), we could be near the end of the current bullish run
SNAP with a weekly pattern and overbought condition Will you sell?
Weekly Bearish Gartley in USDCAD is still valid as X point hasn't been taken by recent rally. Also weekly double top of course
NZUSD just completed a weekly bullish Gartley pattern
The Dollar has completed an impressive recovery despite several rate cuts, as Corona Virus sends investors to safe havens. However, now DXY is facing strong weekly resistance that includes: 1) Weekly Structure 2) The 100 psychological level 3) The 61.8 Fib level (monthly) The Dollar can turn here... if it will, perhaps you can find opportunities in oversold...
The Dollar Index is near a target zone of the bullish Gartley pattern and near a very interesting resistance zone that includes: 2 daily MA lines The bottom of a broken channel Harmonic pattern - Bat Structure Interesting bearish setup towards NFP today
XLE price is trading inside a Triangle pattern - between the 200 days MA line and the trend line marked in the chart. A close below 60$ will probably drive XLE lower, towards 56$ A close above the 200 days MA line can lead to a rally that will take XLE all the way up to complete two bearish harmonic patterns (near 65-66$)
SPX failed to close above 3000 last week. It could be a warning signal... But this SPX chart actually shows more bullish potential than a bearish one... As long as SPX price stays above the 2900-2950 support zone (!!)
Pay close attention to oil. The price is now testing a critical support zone. If Oil prices will close below this support zone by the end of the week... this could turn ugly both for oil and for stocks.
Monthly Chart analysis: Gold recently broke out of a Triangle pattern and exploded higher... closing above the 1500$ handle and the 61.8 Fib correction level. According to this chart, there's a potential that Gold will continue to rise towards 1700$ to complete a bearish Bat pattern (it can suffer some short term correction moves) This setup support my bearish...
Two potential scenarios based on the current support zone
PLX broke below support last week, following its earnings. If PLX won't close above support this week (which looks like it won't... but still about 60 minutes to the close), it will probably continue lower. The next potential Buy Zone is near 0.18$ The chart shows that near 0.18$ we have: - Completion of a bullish Butterfly pattern - The bottom of a trading...
YELP is facing strong resistance ahead of its earnings. The Stock's price is below 35-36$, which is a strong weekly Zone that includes the weekly downtrend line and 3 weekly MA lines (including the 200 weeks MA line). The scenarios: - Bearish: If YELP will remain below the current Resistance Zone (probably will gap lower), it can slide all the way down to...
The previous analysis showed why the S&P500 was heading towards the 200 days MA line... target reached.
Bullish Butterfly - Will it put an end to the bleeding???!!