Currently testing the near term uptrend with an indecision candle on the daily again. We failed to break above 38 on three attempts. The market was muted to slightly down with JPow's speech in D.C. 2722 area is solid support and I like the buying that came in just above there. However if price can't clear 2726 and stay above 2728, most likely will continue down...
Finally a daily close above 54.75 for the bulls. Looking for a retest of this area to hold and continue the trend up. As long as the lower trendline and 18 day sma hold, we most likely grind higher to the 57.44 target I have then ~60. Losing the 54.75 on a closing basis would put selling pressure on oil and most likely test the 53 area. As always let price...
Trend is up still until we lost that lower trend line. We are more than 50% back from the ATH and the sell off reversal area. Love that little doji that formed on Friday. We most likely break in the direction of the high or low with strength. My upper target on RTY is 1530.7 then 1560 area. Lower areas of support 1498-1500, lower 1478-80, and 1465 (and 18 day...
The trend looks very bullish clearing and holding above the 6845 level that I covered in my YouTube Video here: youtu.be . The 18 day sma is above the 50 day sma, signaling the trend is up. I'm expecting a push towards the 7000 level (2/3 back from the ATH and reversal from the sell off) this week as long as we hold the 6775-6800 area. Might overshoot to the 200...
We should be bouncing soon, currently on the bottom side of a downward channel.
Weekly TF technicals have shown a breach of short/intermediate term MAs and psychologically important support levels. Divergence and a crossover on the MACD support the case for more downside. My immediate thought is where will price find support? 2580 seems like the next significant level as the market retests the lows established earlier this year in...
This is a plot of all the start, Last, and expiration of the CBOE and CME Contracts. I may need to adjust some of the dates but i would like to get contract dates and etf decisions or delays on one spot for referance. How do futures contracts affect the market? Will any denial of ETF's drive the price down or do us crypto traders not even care at this point? I...
Educational Metal Futures Insights: ZA1! Zinc futures are up 15% over the past month, however note "Uranium futures" have been notably increasing since May. Silver COMEX:SI1! and Copper COMEX:HG1! futures have just started their uptick with recent volatility in market. CBOE:VIX Gold GC1! is also just starting a small uptick. The summary: ...
Cocoa futures monthly demand in control, long opportunities. Going short with monthly demand level in control is very risky and low odds. Very strong monthly demand created with proximal line at 1995. New daily demand zones being created, not yet available. Longer term long bias with this monthly demand zone in control.
Hi Traders! So as we promised we will publish another idea basing on the infographic from Jeff Desjardins and visualcapitalist.com Just to recall they made a massive work to sum up all the money assets all around the world. As it is more frequently said, especially in the finance world, cryptocurrencies are becoming considered as a new class of assets. Class...
S&P500 futures index is about to break all time highs again breaking the weekly supply barrier at 2879. Clear long term longs bias with new weekly and demand demand levels being created. Expecting a breakout of all time highs that will probably last for a couple of weeks before it retraces again. A very similar scenario has already happened on Russell 2000 and...
All traders and investors should be aware of two sets of key dates in BTC: 1) The date that Bitcoin Futures contracts expire (shown on the chart in black in the past, and orange in the future) Futures contracts let traders bet on whether the price will rise or fall, without actually having to hold bitcoins. Whilst in principal the start of these should push...
Is it at all possible that the DJI may have topped? I haven't done an in-depth EW analysis, and lets face it, I am no expert. But: 1. A trade war (between the USA and China, Canada, the EU, and Mexico etc) seems more likely than unlikely (whatever your beliefs may be about the benefits vs costs long-term for American Businesses and populace, I find it hard to...
After seeing such a steep recent decline I started looking for signs of a bullish bounce. Unfortunately, it looks brutal: 1. recently retraced more than 100% of previous up-move, which indicated additional consolidation / correction is needed. 2. While it is a little messy, I can make out a 5 wave down move from the 2012 highs. This would mean we are likely...
I'm new to commodities and relatively new to Technical Analysis. No associated fundamental Analysis has been undertaken on Platinum. This analysis is shared simply to further my own education and hopefully someone will appreciate it.
My analysis shows the US majors are setting up for a massive upside rally over the next 3~7 weeks. Many people are freaked out about the market's recent decline, yet this is just the type of price rotation that the market needs to advance higher. Failure to achieve new price lows will result in a massive price reversal driving prices much higher. Watch as new...
Bullish diagonal triangle formation + P/O divergence Be prepared for a significant rally. Clear close above the upper bound will confirm it.
Here we have a 45 min chart of the ES1!. The ES1! rebounded nicely yesterday fueled by a 45 min squeeze firing off to the long side late in the day. The ES1! is now testing the 0.382 Fib retrace level of the 3/13 high to the 3/23 low retrace. If it fails to break through this resistance level, look for a reversal to the downside. Also note that a 45 min...