Price turned at the MA200. Now a bearish candle in Daily Chart. Expecting a price correction to 30.00 thenn a up move to 38.00 RSI, Stochastic and MACD overbought. Entry Level: 30.00 Stop Loss: 29.00 Target: 28.00
USOIL (Daily): For more than a week oil has broken and held above $50. The next target is resistance at $51.70. It tried to break this level on Oct 11 but failed to do so. Here we are again. The trend is clearly bullish but be careful of buying into resistance.
SPX500 (Daily): Bounced off support in the 2100 zone. This area has acted as resistance for several months before the bulls achieve a clean break. Price has retested this area with the bulls showing their presence. Although the trend is up it should be noted that for the past three months the market has simply chopped sideways. In this situation I would stick to...
DXY (Daily): Since breaking higher on Oct 4 the dollar has been particularly strong. It is trading in a bull channel and approaching the top of that channel. Price has recently broke resistance at 97.57 and is currently using this resistance as support. The next resistance zone is at 98.5x (previous high, 127.2% ext and measured move). Due to the strong up move...
GBPUSD (Daily): After trading in a range for more than 3 months the GBPUSD finally broke sharply to the downside. Price trades through, then pullback from the 1.20000 level as well as the lower range expansion target. Price is currently trading sideways and all the price action is contained within the candle created on Oct 11. Although the downward momentum has...
USDJPY (Daily): is at the 61.8% retracement of the previous swing low. Price has broken the upper trend line of the down channel. The resistance zone was previously tested On Sept 2 and higher prices were rejected. Price is trading above the 20 and 50 SMA. I am looking for a move (at least) back to the moving averages and possible to the lows of the bull channel.
HAS is moving in an uptrend and appears to be near the bottom of the channel. Expect markets to fall on October 14, 2016 but a positive earnings could cause a bounce off of the support line. The best time to BUY CALLS may be the end of the day on October 14. Outside of playing earnings, from a technical level the stock should continue up.
EURUSD Daily chart showing a potential bullish crab. If price falls below 1.10 I'll be looking for a dip towards the 1.07 with a bounce from the D point. Crab ratios: AB: 0.382 - 0.618 BC: 0.382 - 0.886 XD: 1.618
I think that price could have some more downmove to reach the level , where i would buy ..
Gold has been on a strong rally all year. It appears to be pausing for the moment and refusing to make and lower lows or higher highs. To me this looks like the Market is flagging and pending a breakout. If it breaks out to the upside look for $1,400 to get tagged. If it breaks lower look for $1,250's to get tagged. I have no idea which way this will break......
SPX500 (Daily) has been trading sideways and below the 50 SMA. Price halted it advance without tagging 2200, then fell sharply to the 38.2% retracement of the previous up swing. The uptrend that started February 11 2016 is still in tact since price has not broken any significant swing low. Currently most of the price action is contained within the bearish candle...
USOIL (Daily) still in an uptrend starting from the lows created on February 11 2016. Price is however at resistance at $50 as well as the 61.8% retracement of the previous down swing. This zone is also a previous swing high. The last two times the market approached this zone it turned lower. Will the market turn lower again? or will price trades to the top of the...
On the GBPUSD (Daily) chart, price has broken through the low of a trading range. It is also at the low of a down channel. Until there is a clear breakout from the range, I am looking for range rotation. Hence I am expecting price to return to the top of the range. Note that since the sharp move down (resulting from the Brexit vote) the 38.2% retracement has not...
On the Daily chart the EURUSD continues to chop sideways. This has been the case from the beginning of September 2016. Currently price appears to be supported by the 50 SMA and chops between the 1.11 to the 1.13 zone with 1.12 acting as support and resistance at times. Overall we are still in a bearish trend since we have not broken the down channel line.
Spotted a bat pattern forming on the NZDCHF daily chart. When the market opens back up tomorrow I plan on setting a buy limit order at the 0.886 retracement of X to A with my stop loss just below X and profit target set for the 0.382 retracement of the A to D move.
Price action has formed a descending triangle continuation pattern, with the resistance line growing stronger as price has reacted to it on multiple occasions and the support level at 1.76950 being tagged a few times more recently. A doji formed on the 29th and price has reached the 2/3 area of the triangle. Expect a breakout in the downwards direction.
USOIL - Price structure analysis (Daily)
GBPUSD (Daily) Trading towards the low of the range. Look for selling opportunities while price moves towards the low. At the low of the range look for buying opportunities.