Please, check our technical outlook for US500. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 4577.1. The above observations make me that the market will inevitably achieve 4395.5 level. P.S Overbought describes a period of time where there has...
Hey Traders, in today's trading session we are monitoring US500 for a buying opportunity around 4540 zone, US500 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 4540 support and resistance area. Trade safe, Joe.
In the previous post about the SPX, we have been cautioning against potential reversal in the Chinese indices and subsequent implications for the U.S. stock market. Since then, we have seen Hang Seng Index drop about 5% and Shanghai Composite Index about 2%. While these declines are not yet doom and gloom, the situation is worth watching out for in the upcoming...
OANDA:XAUUSD sold off 6% from its high. The price has lost more than $130. This is the biggest drop since August 2020. At the moment a correction is forming, after which the fall will continue On d1, the dollar is strengthening in anticipation of positive news, while the Fed is silent and treading water. Gold is forming a huge false breakout and a candle with...
OANDA:XAUUSD , on the back of the residual potential from last week, is forming a rally from the opening session and testing a new global high of 2150, after which we saw the strongest sell-off. Yesterday we looked at what could happen in gold. But no one expected an update of the highs to 2150. In any case a conglomeration of factors is important for us: ...
AMEX:RSP chart analysis/mapping. RSP ETF rally representing S&P market breadth - offering legitimacy to overall market strength & further indication of healthy stock rotation, instead of "Magnificent 7" concentration. Trading scenarios: Continuation rally #1 = ascending trend-line (white) / descending trend-line (light blue) confluence zone. Continuation...
AMEX:SPY chart analysis/mapping. Spy ETF strong rally throughout November - is it due for a pullback in December? Trading scenarios: Continuation rally #1 = gap fill / ascending trend-line (white) confluence zone. Shallow pullback #1 = descending trend-line (light blue) / 78.6% Fib confluence zone. Shallow pullback #2 = Golden Pocket / descending...
This index reached its highest high today, and I am anticipating that the might be a pullback to the 0.2 fib level. Entry at 4400, S.L at 4450, and TP at 4300. My R: R for this trade is 1:2. Remember, risk only 1-2 % of your account.
OANDA:XAUUSD is making another rally and updating the global high to 2075.4, but at the same time there is a huge imbalance in the market. Distributive retest of the resistance zone and several preconditions allow me to think about a possible correction. In the coming week we will encounter several important news that will determine the market mood and...
We roll into December and many hoping to take a couple of weeks off over the festive season may be reconsidering that call – such is the opportunity cost. Whether one is looking at equities, the USD, gold, or bonds/rates it's all a big momentum play. In equity land, the US30 is where the big moves are playing out, with the index in beast mode and a mere 1.9%...
Please, check our technical outlook for US500. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 4556.3. Taking into consideration the structure & trend analysis, I believe that the market will reach 4744.4 level soon. P.S The term oversold refers to a...
S&P500 is overbought on its 1D technical outlook (RSI = 72.156, MACD = 58.110, ADX = 59.863), a logical outcome considering the aggressive nature of November's rally. This rally is the HL rebound on the bottom of the 1 year Channel Up and is more effectively understood with the help of the Fibonacci levels and ranges. The price has been trading all week inside...
OANDA:XAUUSD continues to consolidate in the 2050 - 2035 range. Powell speaks again today, earlier the US market got a higher GDP and good Initial Jobless Claims data, how will this affect his speech and how might gold react? The TVC:DXY is testing local levels, ahead of ISM Manufacturing PMI & Prices and also at 16:00 and 19:00 GMT Powell will speak. US...
OANDA:XAUUSD is forming another range of 2050 - 2038. Retest of resistance failed to renew the maximum, thus the market may begin to form a correction to support. The TVC:DXY has been strengthening since yesterday on the back of positive US GDP data. The expectation was 4.9, the actual data: 5.2, which is positive for the dollar. But the controversial...
The S&P500 index (SPX) is turning sideways following the enormous rally of November, which is close to being the best in history. That is a natural technical reaction by the market in an attempt to normalize the largely overbought 1D time-frame. This sideways trade that indicates a potential exhaustion, is complimented by the Bearish Divergence on the 4H RSI,...
Hello Everyone i want share my idea about US500 price action. after touch weekly Support US500 with only one touch start aggressive and bullish movement to upside which broke strong daily support without any seller. its going upside pretty strong which still don't have seller. i think this is one of the main reason falling of dollar. But where is seller...
US500 - 24h expiry The rally was sold and the dip bought resulting in mild net gains yesterday. An overnight positive theme in Equities has led to a higher open this morning. Previous resistance located at 4610. Dips continue to attract buyers. Previous resistance at 4560 now becomes support. We look to Buy at 4560 (stop at 4540) Our profit targets will be...
OANDA:XAUUSD reaches the previously mentioned 2050 area a bit faster than we expected. The rally is followed by a logical correction. But how long will the correction last? On D1 we see a counter-trend correction in TVC:DXY . The correction may last until the publication of GDP related news, which is published today at 15:30 GMT. Analysts are expecting the...