Given the lack of exuberance I expected to see at rally Point A when the stops would be hit I felt the need to re-examine the chart and make updates.
Blow you will see how the trend, although slowed, is still in place with Bitcoin under the new resistance. The overall pattern I have drawn will remain for now.
Barring a exuberance on price rally my outlook...
Cryptocurrency market is breaking out from descendeing trendlines (check my previous posts regarding).. global uncertainty around coronavirus might enhance further positivity.
Triangle breakout in XRPUSD (yesterday close on daily timeframe) provides signal for joining bulls with quite wide stop around 0.215 and 0.365 t/p level.. (R:R=3.3)
If entering the market...
Global Dow GDOW
Same thing here.
Testing resistance, in fact it's now sitting just a couple of points above the next line at 2930.
It's going to push back up to 3000-3003 sooner or later, just over 2% on this chart.
Look to buy SPX or any major market either on any retest of the rising dynamic if we get to see it- or on further strength above 2935 on this chart...
MSCI World Futures Index USD FMWO1!
An excellent day for bulls all over the world.
Now most markets are testing important resistance levels (Hang Seng, Sensex, SPX and Nasdaq)
and are vulnerable to fairly light profit taking in the very near term.
The MSCI World Index is also very close to resistance at 5873.
Has to break above here to confirm further strength...
21st May EURUSD Week Ahead
EUR has reached the medium term downside target at 1.1721
today after a low at 1.1718.
Although it's rallied away from here as London opened as it
should do, it's not likely to get very far, though.
The first resistance potential is here at 1.1763, then a minor
level at 1.1786 and then heavy at 1.1821-1.1836.
It will need...
It took 18 months for Apple to double from the low at 91.5 to
a highs at 180-183 before a 16% decine to 150 (WD Gann
would have loved this stock as much as GE, probably;)
Like FB, Apple has closed out the week sitting on top of
the structure to its left. And in classical fashion, if the
165-164 levels fail to hold from here it's then likely Apple...
Bitcoin Sunday Update
Nothing has happened over the last 24 hours of trading to
improve the technical picture - after breaking the bear flag
formation all remaining longs closed out and those day traders
who then sold did well from the highs of the new day at the
9900-9917 range. Since then it's carried on drifting lower, still
falling away out lack of...
DXY Dollar Index Small counter-rally before further weakness
DXY has crashed into the near term target zone at 92.74 -
92.55 (target 92.64) and bounced. It looks like it will
consolidate by moving sideways to upwards, at best to test
the upper parallel before it falls away again. When 92.50
gives way it should fall a further 1.5% to 91.01. This move,