In a similar fashion to its $DJI brethren, the $IXIC is trying to break out of its "Channel" formation in an effort to move higher.
Given this move, the $IXIC is trying to make a run for 7,879 - a Key Monthly Resistance Level (Blue) for the index.
One thing to lend support for the $IXIC to move higher, is the fact that its RSI is showing positive divergence...
The mean time between official (NBER) US recessions over the last 150 years has increasing a lot (see gray lines).
Yet the S&P 500 % drops remain relatively consistent averaging 25%.
The market is considerably stabler than it was a century ago.
The EUR/USD was rejected big, 2 days in a row. Lots of selling pressure. Obviously, this was due to the strong US market on Thursday and Germany getting closer and closer to a recession.
I may look for an entry tomorrow at open, if the 4 hour or 1 hour charts look promising. Or, I might wait to see if the low can be broken, then wait for it to fall to that...
Welcome to an update on BTC recent developments, Inside Bars Broke!
Points to consider,
- Testing support line, potential HL
- Price rejected from .618 Fibonacci zone
- Overall volume spike
- Bart pattern back into support line
- EMA’s acting as resistance to price
- Stochs in lower regions
- RSI is in neutral territory
- Bull impulses are...
Today’s chart will be on BNBBTC pairs. Potential bounce could be at play!
Points to consider,
- Trend has been bearish overall
- EMA’s providing price support
- Price coming into structural support, in confluence with the .618 Fibonacci zone
- Potential falling wedge pattern
- Bear impulses getting smaller
- Volume has steadily been declining...
Disclaimer: Please consult with your financial adviser before investing. Any statements made are not an investment advice and should not be taken as such. It is purely a speculative opinion. Invest at your own risk.
After bouncing off its Weekly Support Level of $52.422, WTICOUSD is making a run for its key resistance level of $57.14 (Red Diagonal Line).
A "Break and a Close" above this level will help to provide confidence for the commodity among global investors. However, WTICOUSD continues to make lower highs within a downward trend.
The next move at this level will be...
The year has been good so far for Bear Creek Mining, but as of recent, it has lagged behind it's competitors as the cost of silver has increased. I expect to see that once the 12-day EMA 26-day EMA, we should expect to see the start of a huge uptrend in the stock price. At this point of time with silver jumping above the $18/oz. level, this price is the base...
$HSI is approaching our Monthly Support Level (blue) of 25,166.
It has staged steady rallies since, but given the external global macro headwinds, and internal political strife, we see $HSI breaching this support and heading lower.
Watch this space...