On March 29, 2017 Wal-Mart (WMT) crossed above its 200 day moving average (MA). Historically this has occurred 192 times. When this happens, the stock does not always continue to rise. It has a median gain of 3.407% and maximum gain of 36.667% over the next 15 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at...
On March 28, 2017 Citigroup (C) crossed above its 50 day moving average (MA). Historically this has occurred 349 times. When this happens, the stock does not always continue to rise. It has a median gain of 4.839% and maximum gain of 62.909% over the next 18 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at...
After the interest rate decision and the dovish tone from Yellen we have seen the price in Gold spike back up to resistance dating back to May 2016, i will be looking to short gold at 1240 should it respect resistance or look for a bearish candle on the daily close to see a sell off back to 1200, the dollar index will also be a key tool to decide price action.
The dollar index on the daily chart you can see that we are now in a key area where it is testing resistance from February and November 2015, due to recent results from the US raising interest rates this has caused concern for investors and we have seen a big sell off, I believe we may see a big sell off again after the pullback to 99.26 0.382 fib or even gain...
Crucial levels 1220 and 1194.
Fed raises rates at March meeting and fundamentals are bearish but gold is already bearish few weeks so we will see how much space it have to go down.
In the other hand if it breaks 1220 this correction could show us uptrend again.
Stay nautral for now.
Natural gas verified the neck line of the double bottom pattern(or reverse head and shoulders) at 2.865-2.885 area.
Remain neutral because of the month we are in..
Possible sellers at 2.885-2.900 area and good resistance at 2.885-3.100 area from trendline and 200MA.
Possible buyers at 2.550-2.600 area..
Although I prefer trading the shorter time frames like 1d, 4h, and 1h - it always helps to know the overall situation.
AUDCAD has been ranging between 1.0350 and 0.9170 for many years now on the weekly chart, and on the time frames I just mentioned, this provides opportunities to trade the trend up and down to and from the zones above.
So I mapped out the most...
Technically overbought. New highs made with declining volume. Not an indicator for continued strength. Overall uptrend is intact, but we are near upper end of trend channel. On top of that market is overbought based on BB, RSI and Stochastik.
Targets:
1. Middle bollinger Band
2.Upsloping red shorter term trendline
3. Longer term red trend line, and 100 day MA...
So far, I am seeing a head and shoulders for the US Dollar Index daily chart.
To actually trade this, another movement down to 99.40 area is needed to fully form this.
However, Thursday's daily candle actually managed to close above the first shoulder's resistance - which leads me to watch this pair carefully and not rely on any bearish movement. My thinking...
The future short-term performance of the NVIDIA stock will be decided in the next couple of days...
If Nvidia is going to break the support line we are going to see a major pullback, otherwise it could reach a target near 108$
