Oil continues its sharp declined that started following a weekly false break to the 50$ handle. Now Oil is about to test a weekly structure zone and its 200 days MA line. Interesting support zone to monitor for potential bullish pullback or bullish continuation trade towards OPEC meeting.
New down trend with black line as resistance line. Still it's down slope. Solid green line is still acting as support line but once it breaks after 11/04 we can go short fully. Looks like start of a new bear market.
www.fool.com yelp is a short candidature despite today's bounce up. Yelp is playing a triangle on minor degree. Its called dead cat bounce.
FITBIT LONG TERM CHART GAP @ $16.60 GAP @ $15.70 Those gaps needs to fill. Plus green solid line is acting as support and also it broke the red bear line. So FIT is a buy. FIT will go down a bit more like $12.06 and then it will be a buy for till it reaches $16.00 ish to fill the gap.
**** SPY ELECTION 15 MIN CHART****** LOWER LIMIT SUB $208 Upper limit max $212 Solid Yellow line is the new resistance line. Green solid line will act as new support. Blue horizontal line is election day. In election day or pre/post we are expecting swing both upside and down side. But heavy on short side 60% and 40% upside. Swings will take place on both side...
SPY ELECTION UPDATE: SPY Still trading between red resistance line and the dotted black support line. Even though it tried to break several times the black line but slowly and surely its going down and will breach soon. SPY upper limit is $214.71 and lower limit is $185.20 (even though it may not reach on pre/post election but the hype will be there)
QQQ HOURLY CHART ELETION UPDATE: Upper limit is $119.72 and lower limit is 109.12. Unlike SPY QQQ is very strong and doesn't show weakness sign yet in the price chart but technical are weak though. Need good options strategy heavy on the short side and less on the bull side. But looks like it will move either way in pre/post election days.
***NOTE*** NOTHING HAS CHANGED FROM MY PREVIOUS CAHRT; SPY STILL RANGE TRADING BETWEEN THE RED LINE AND TWO BLACK LINES. CHOPPY SLOW MUSHY RANGE TRADING BUT BECAREFUL!!! UPDATES: ELECTION SPY RANGE $214.71-$209.19. The upper limit is $214.71 and lower limit is $290.19. It will trade both ways on pre & post election so LODS of MULA u can make it by rolling out...
Crude is possibly setting up a nice opportunity. $47 - $48 must hold to see more upside. Use a trigger if price enters the zone.
Pay attention to the volume average in the period M1 to H4. It indicates the amount of capital invested in selling transactions. The red line is the best position to get in.
TWX TIMES WARNER IS A GOOD CANDIDATE to short. it is paying inside the triangle pattern and reached the upper red resistance line which means perfect time to go short. There are 3 support line. Dotted light green line, Solid light green line and solid deep green line. Each of them breaks means Time for times warner to say bye bye. www.washingtonpost.com
Please look at the channel between Solid RED line and Solid Green line. The blue line is a temporary support.
**** 4 HR chart only**** SPX is going to trade in a zone. You can expect trading options strategies for sidewise choppy trading. The zones are RED solid line and Black support zone. If black support line breaks then you can go SHORT.
I think this post is pretty clear and easy to understand. A large reverse Head and Shoulders pattern has formed in Crude. I am confident in the validity of this pattern due to the fact that it has been over a year in the making. Please leave your thoughts and comments! All the best and Happy Trading!
My current plan is for crude oil to complete a 1-2-3-4-5 (c) wave before moving down later this year. as of now, it looks like it has completed wave 3 and setting up to move down to wave 4. I'm watching 4H chart for averages on price to move down and for ADX to remain below 20 for price to consolidate some more. Should price continue its consolidation and...