UK OIL: Brent Crude: The medium term trend remains positive whilst within the parallels shown on chart, so whilst above 58 Brent looks to have more upside still, and should go on to test the upper parallel at 63.30 once minor resistance at 60.60 is breached. Will be looking to close down longs at 63.25ish and then wait to see price action develop at 63.30-63.50...
Intraday Update: USDCAD still following an upchannel, but only below the 1.2500 can we be sure the pair is turning lower out of the channel. 1.2600 is key resistance on the way up.
BITCOIN:BTCUSD Hope you managed to get long at 2755 - it was a peach of a hit on support - I missed it. It was so damn perfect too. Damn Der. Got so carried away with the oil complexes I took my eye off Bitcoin for an hour and so much has happened... It's come back to make a perfect test of both fixed support and the lower parallel at PRECISELY the moment in time...
BITCOIN: BTCUSD Still good whilst above 2800 - bad timing as it's rallied just as this is written...but Bitcoin still looks fine above 2800, stops just below.
BITCOIN: BTCUSD Fantastic price action has pushed Bitcoin through the old high like a knife through hot butter. There's more to come now...
BITCOIN: BTCUSD Never made it to the highs yet but has gone into a smaller continuation pattern just below them. Still looks good whilst it holds the lower parallel. But the big test remains at 2350.
BITCOIN: BTCUSD Each of the declines in this run up has been 90 - 100 points. This one is too. So long as it now continues to hold 2248 Bitcoin remains positive. Stops for longs should be moved to around 2242
APPLE: AAPL Island reversal from the top has still not been filled - so this stock is still vulnerable to sell offs on each rally for now. The entire formation at the high is is a minefield of pin bars. Leave this stock alone until the technical picture improves
USOIL: WTI - still moving ahead in front of Opec meeting tomorrow - suggest staying long up to just before the meeting and seeing where WTI is lying at that point, looking to close down into final spurt of strength if we see it and then getting set for a short if the oppoertunity presents itself as per comment
S and P 500 Index: This index is still only good for day traders. Also be aware that S and P has made a significant top in last 32 days up to 21st May in 5 out last 6 years. So it timed out yesterday. Just be careful here...
BITCOIN BTCUSD Still grinding away towards this weekend's target at 2137-2140. Looks so strong now it's back in the main parallel
BITCOIN: BTCUSD Bitcoin just won't quit, grinding higher and using lower parallel as rough speed line for rally. It still looks positive - moving higher as this is finished with new support now at 1957...so it's still a buy here
BITCOIN: BTCUSD Still positive whilst tracking within the parallels. Raise long stops as per comment
DXY Dollar Index holding up so far but it still looks like a continuation pattern and that holds whilst unable to break above 97.75. But there's a little uptrend off the lows and it should work on this, the 4th strike, creating another little rally...still cannot do much other than play between the lines at moment, but next move is building, as per comment
Tesla: If you're not short already try to get short on any attempted rally - two gaps down now and looking terrible, technically - and that's what counts!
DXY: Dollar Index update: still bearish whilst trapped within the parallels (check 1 minute chart and draw in the parallels off the lows)
Nasdaq 100 Index: Nasdaq has come back within the original impulse wave that's been driving it upwards since mid April and remains positive whilst tracking within the parallels. But that's no reason to get complacent here.
S and P 500 Despite it's reluctance to join in the Euro party this index still has a positive chart. Only a break below 2377 would change the near term outloook to bearish