Short term buy signal issued on 280920. A close above 3393 resumes the uptrend on all time frames. Support is at 3288. A close below 3288 will retest the lows of 3211.
The STI has tried multiple times to hold the 2500 level in the last trading week. A break and hold above 2510 will relieve the selling pressure. A range within the downtrend has develop between 2450 and 2510 in the ST A test of 2450 is still imminent.
Venture had resumed its uptrend with a sharp parabolic ascent to $29.50 from Aug 2016 to Mar 2018. Pivot : $19.54 Buy on a break and close above $19.54 Target $29.50 Stop Loss : $18.92
The STI is into its downtrend for 15th weeks now since the 24th of July 2020. 2500 level needs to be reclaimed and a close above 2520 will negate the correction. The downside target of 2200 in the MT/LT remains a viable target if a sustained recovery above 2520 and 2551 fails to materialize.
The SPX attempts to make a break above 3344 to pause the recent 10% correction from its recent highs of 3591 early Sep. A close above 3344 on the 4hr charts will confirm the end of the correction and may test 3392 to resume the uptrend in the M/L term timeframes Alternative, a sustained close below 3344 will retest the lows of 3211.
Trade carefully, risk is highly profitable! This time is a historical movement. Be advised and trade with care.
A close at 3329 in the SPX sits exactly on the SSSA line of the day ichimoku cloud. A test of the base of the cloud is imminent. The baseline forms support for now. The Teken level on the weekly charts is at 3350, this has been violated giving way to more weakness. Bottomline: A resumption in the uptrend must see a bounce from Friday's close at 3329 to 3375 for...
The STI is struggling to hold on to 2500. All indicators are on a downtrend. To negate short term weakness, the STI must close back above 2540 - 2586 and hold. The Medium and Long term prospects are weak and in a persistent downtrend. 2200 is the next target is weakness persists in the MT.
Short term weakness on the SPX since the short signal on the 030920 continues to the new trading week of 150920 spanning 14 days. Short term support is now between 3150 - 3280. A break of 3150 will see a corrective retreat on the weekly charts to 2973. Alternatively, a break and hold above 3443 will resume the uptrend of the SPX on all time frames.
The STI is in its 8th month of correction since February 2020. The technical picture has worsened in the trading week starting 070920. My previous post on the 6th of Sep highlighted the technical weakness on all time frames. A worst case scenario of a test of 3200. It would be prudent for long only traders to lighten exposure for the last quarter of 2020. For...
The SPX has Rebound of its intraday lows of the week on the 9th of Sep to the Kijun Sen on the 4hr charts at 3475. This is a 50% retracement based on Ichimoku cloud indicators. Pivot will be at 3400. A close and hold above 3400 will test the Supertrend level at 3475 which is also above the SSSA line. A break below the pivot will see the retest of the week's...
Caesars is making a nice comeback. Less volatility in the last few weeks and didn't get hit by last weeks correction. Could be worth a watch.
SEA continuing to run well.
You can see super nice up channel with amazing tests of S/R zones. Definitely LONG.
Expecting price to retrace to the golden zone. Once price reaches the golden zone (50-60% Fib) I will look for a long position expecting price to reach Resistance Zone 1.26710. If price continues passed golden zone I will look for a short position. At that point I will look for price to reach Support Zone 1.23407.
Colored DMI indicates no stenght at the major historical support trendl line (orange line), being tested frequantly since May 07 and few times in the past. PS : Colored DMI - customized interpratation of ADX +DI-DI, or shortly DMI Momentum is squuezed When looking of the formations it is defenetly rising wedge (purple lines), a sign for down trend , The price...
Expecting Price to hit Resistance Zone 0.67829 Long Term. Price may continue to pull back to Support Zone 0.62373 than make its way up to Resistance Zone 0.67829 Long Term.
My Bullish scenario if we can hold these levels. Will upload my bearish scenario soon, follow me to see all the possibilities that could happen!