Bean oil looks as through it is setting up for a nice bullish channel.
A bounce off of the support near 35.08 will confirm its validity and will be a chance to enter long.
A second bullish confirmation will be a move above the 21 day Moving Average
A breakout to the downside will void the idea and the chart ...
The Daily trend is in a Downtrend technically indicated by following:
• Price is currently trading BELOW the Uptrend-line.
The downtrend is confirmed from the MAs. Bearish cross observed- MA10 cross under MA20.
• RSI is BELOW the equilibrium level- 50. Bearish Momentum.
At the price chart, we are focused on ...
Since october we have been moving in a sideway motion. I think this range is coming to an end. The bulls dried out the bears, and are now ready to take the price to the next level higher at 360. The impulsive breakout yesterday is paving the way for more gains to come.
Note the bullish hidden divergence, which ...
I'm using the Fib tool to divide Clones into 1/4s makes it easier to draw intermediate price targets within Clones and automatically we get price points on the chart. Price action over the previous 2 weeks and this week so far suggests further upside but likely we get a short term pull back possibly to top of ...
As you can see on the daily, GBPUSD has been in a good downtrend for the last six months, clearly respecting the upper line and finding support on the bottom. GBPUSD is currently under the monthly pivot of 1.24429, and has been for the past week and a half. S1 is at 1.2090. For the long term trade (now to march) ...
1. The previous bullish trend was broken at 117.335
2. Then bounced up to retest the previous high at 117.600
3. First support which is currently R1 was broken at 117.000
4. S1 was tested and it seems to come back again to the same level or breakthrough and continue downward to 114/113 green highlighted price ...
3rd rejection and price fail to close beyond resistance
1. Shooting star dail close expected
2. Mothnly pivot point rejection
3. fail to close beyond resistance level at 1.0500
4. 3rd lower high
Now price is heading to the mothnly S1 for this month
SPY closed out 2016 sitting right below support 2... Ideally Id like to see short sellers cover to push SPY to top at 228 (dark blue arrow up) and fail because of stronger bearish volume and weak stoch(dark blue arrow down) ... After the failed retest at top and short squeezing.. enter your short here with small ...
Since my last discussion on Renko Charts, I've made some changes to what my view of long term vs. short term is. Currently, I'm experimenting with a 2hr and 5 min chart
I'm continuing focus on my primary scenario of a breakout of price based on consolidation dictated by the ADX of the DMI. The general goal is ...