Shopify is looking pretty bearish to me. Notice, it is trading below its big up trend line, below its 10 SMA (orange line), below its 50 SMA (blue line), and looks to be heading for the 100 SMA (purple line) as well as the next major support area (dashed line).
I am going to stay neutral for the time being, but will keep a close eye on it. If SHOP can't bounce...
We are still awaiting significant price action in the Gold market before we feel we would be able to better establish future price action with greater conviction. Below the psychological $1500 level we see prices moving towards the support level at around $1480 but on the upside we feel prices would have to breach resistance at $1536 to confirm the upward momentum.
Good morning guys!
I just checked the chart and indicators.
It seems like they resist at 2861 to 2849 which I thought the first support zone; resist zone.
the bottom line as the second resist zone would be 2677 which I cannot guarantee (too obvious :D)
Anyway that's what you guys want to hear.
Still the indicators show that it is bearish, so it is really hard to...
Gold wasn't able to continue the downward momentum too much further after it broke the neckline level of $1483 of the head and shoulders pattern it had formed earlier over the past couple of months. Therefore we are awaiting significant price action and prices to break through either the $1483 neckline or resistance at $1536 before having a better indication of...
Nvidia has been trying to push higher but selling pressures have been to great.
If the $171 range does not hold I believe in a buying opportunity at the $150 range, but this range may not be met for another 30-50 days. But it is crucial that the $150 range stay as a large support for the bulls otherwise we will have a lower low and moving down will be, in my...
We have a neutral view on oil despite believing there is significant upside potential for the oil market because prices have dropped below the key support level at $55.55. We would expect the market to now drop towards $50.4 but continued tensions in the Middle East which could cause a spike in oil prices at any time lead us to maintain our neutral view.
$CAG Iron Condor
Buy: 10/18 32c for .27
Sell: 10/18 31c for .49
Sell: 10/18 27p for .47
Buy: 10/18 26p for .28
Net Credit: $0.41 (Max profit if all expire worthless)
Buying Power Reduction: -$0.59 (Max loss on blowout)
Profit Range of $26.59 - $31.41 w/ 55% POP at expiration
We still see Bitcoin in a descending triangle pattern and therefore maintain our neutral view. We are now looking for price action above $11030 or below $9422 to determine the potential direction of the market.
I am just deaf, how I trade is based off what type of source I’ve spent time reading.. it is not always accurate but sometimes it can be.
Yesterday gold has dropped with an expectations of hitting 1475 level but instead it came short of support level. Either it has to bounce off 1475 for Bull to go back up 1500, 1550 and possibly 1600.
But if it breaks 1475...
This might have looked like a sell-off in the past hours, but we are still moving in our range and therefore we don't have a signal to either long or short now.
If we close below 9700 USD today, this whole situation will turn bearish in short-term. We will open a short position and eye the next major support zone to close our position.
If we are again...