DXY punched through the wedge on fake breakout reaching just over 81.50 but back inside wedge, failing to make new high above 2013 Q4 highs. A ret. is likely before any attempt to break higher
$MGM has been bouncing off a strong upward sloping support level since late April. Over the past week we have seen consolidation with small bodied candles and short trading ranges.
After testing the 50ema yesterday, we closed just a few pennies above that level. I am looking to see a nice bounce off of this support line as well as off the 50ema. Will be keeping...
USO is now below the LSMA and a bearish crossover has occurred but I don't expect to see much of a selloff. Price is likely to dance around the support/resistance line of $37.55 giving the stochastic a chance to reset for prices to move higher. The rising wedge has a lot of room to run and prices will rise to the $38.75 area quickly once this consolidation has completed.
I believe that for the moment the signals are clear, bears won. A confirmation would come with a close below the line of the Rising Wedge.
Guys I am doing a survey on some general stuff regarding trading. I did not find, so I am willing to invest some time in making some statistics which will help amateurs what is important for a trader to do. Please help me by...
The EURUSD seems to be forming a strong bearish divergence with both the MACD and the RSI. I believe this divergence will reverse after it reaches the 1.3965 - 1.4000 price range. Technicals are signaling further continuation to the upside after the bounce off the 38% retracement as well as a bounce off a new support lvl (1.3820 - 1.3780) which was previously was...
