Bitcoin continued to consolidate further and the lower portion of the entire range. Since the most recent rebound from the 30000 low, the price has been creating higher lows while it also finds resistance constantly at the current equilibrium level of 36000. As of current, the price could very well be supported at the bottom of a rising channel and we might...
The oil prices faced a strong resistance near the equilibrium level 77, causing a sudden selloff but was able to find support and has rebounded off. The demand for oil will continue to increase or at least maintain a high capacity as the global economy recovers from the pandemic. The rising channel has been readjusted and the price is currently right in the...
Nasdaq was faced with a selloff but managed to recover quickly on the last trading day. Essentially, the market is trading within a rising channel and it is very well supported by moving averages, showing nothing but bullish. We continue to expect Nasdaq to climb further but will constantly face resistance over the course. This week, if the price come down at...
Gold has climbed for the 3rd consecutive week since it rebounded off from the neckline of a previous double bottom. Resistance is currently seen at 1815 as gold kept getting rejected multiple times and ranged for 4 days already. This could very well bring about another pullback based on the volume and the duration of the current bullish wave. However, given the...
EURUSD dipped lower and found stronger support at the bottom of the symmetrical triangle and finally the completion of a bearish Elliot wave. The price rebounded pretty well for the last 2 trading days with a bit of resistance but the buying wasn't really strong. It is also about to reach the top of the falling channel and may start to consolidate again without...
Bitcoin continued through the consolidation and was able to find support from the bottom around 30000. The price is currently attempting to break a minor falling trendline and could potentially climb further towards the top of the range. However, we also expect strong resistance at the supply zone around 39000 where multiple moving averages find...
Oil prices trended again and broke yet another new high for the 5th consecutive week. The price has been climbing within a rising channel for more than 2 months, initially trading above the middle of the channel and now below the middle. Nevertheless, we continued to see a resurgence of buyers after every pullback and we shall maintain our bullish view for...
Nasdaq broke 3 new consecutive historical highs in a week, rising through the week along with DJI and SPX. There is no sign of selloff and the market just kept buying the dips which will probably last through a couple more months. Nasdaq has been climbing strongly within a rising channel and the recent rebounds came right at the middle of the channel. If we...
Gold continued with its current consolidation but shown promising rebound right at the neckline of a previous double bottom. An inside bar was also formed as it reached the week low and it followed through with a break-above, showing a stronger conviction for the bulls. Therefore, we expect the gold to follow through with its rebound and potentially reach 1820...
EURUSD fell through the week but rebounded off from the key demand zone at 1.18 after and despite a highly positive NFP. That goes to show that the market has bought the news and is selling the facts where we can now expect more bullish momentum. While the price failed to break above the previous day high, it did break above a falling trendline in the H1...
Bitcoin was fell back into the demand zone below the 50% pullback level and was able to rebound off again. However, the buying stopped despite a breakout of a falling trendline and it fell back into the same demand zone over the weekend. As of current, we are still seeing persistent support and a rebound from the same trendline that was broken last week. We...
Oil prices continued to climb last week and managed to close near the high despite a consolidation which did cause a breakout of a rising structure. It was climbing within a rising channel but was broken eventually after facing multiple rejections at 74. However, a bearish trend was not even able to form and the price quickly rebounded off from the bottom of the...
Nasdaq, along with other US indices, made a strong bullish run and broke a new high again. It was trading near the top of a 3-month rising wedge and it did get rejected at first but quickly regained losses and continued to climb higher and even breaking out of the rising wedge. As such, we can continue to eye for more upside towards the top of a potential rising...
Gold ranged throughout the week with every attempt to rebound getting wiped out over and over. However, gold was able to stay supported and garner some bulls before the market close for the week. We could expect the bulls to fight back again this week since the gold was able to survive multiple rejections after an extremely bearish week, and not forgetting it is...
EURUSD made a decent rebound at the beginning of the week but lost momentum throughout the week. It is notable that every attempt to climb higher was rejected but at the same time, the bears were not strong enough. In fact, both the highs and lows are getting higher day by day, and every daily candle closed with a bullish body. Therefore, we shall stick to our...
Bitcoin continued to range for one full month since it tumbled to a 50% loss. Last week, Bitcoin lost steam quickly after it faced resistance at 41500 and the selling continued through the weekend. As the FOMC is just over and signals for tightening, Bitcoin may continue to lose its ground, ending the current consolidation and head for an even bigger pullback in...
WTI continued to stay bullish as demand for oil continues to get stronger amid the reopening of major economies. However, it is noted that the price will face strong resistance as it's about to reach a 6-year high and the major equilibrium at 76. This week, we will still look for buying opportunities as the market pulls back at least back to 71, and if the pulls...
Nasdaq managed to break a new high last week as it reached the top of a rising wedge. While Nasdaq was able to remain somewhat bullish, both Dowjones and S&P500 ended the week in a loss, especially the Dowjones which shed off 3.7%, the biggest weekly loss in 8 months. It is fundamentally reasonable for the stock market to come off the top as the Fed signals for...