InvestingScope

InvestingScope

Paramount is technically at the very high bullish levels on the 1D timeframe (RSI = 67.184, MACD = 49.860, ADX = 37.093) and just formed the first 4H Golden Cross since January 30th 2023. Being very close to the top of almost a 2 year Channel Down, this rise appears to be coming to an end. Being fairly similar to the Feb 1st peak, both in terms of % range (+65%...

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S&P500 is trading inside an Ascending Triangle pattern with the price over the July 27th Top (R1) and bullish on the 4H technical outlook (RSI = 63.128MACD = 5.390, ADX = 23.122). Until the HH and more importantly the R2 level break, we will be bearish, targeting the S1 (TP = 4,550). Below the S1, the 4H MA200 is the target (TP = 4,480). If the price crosses over...

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Cardano has turned overbought on the 1W timeframe (RSI = 79.294, MACD = 0.031, ADX = 45.270) being on the strongest weekly candle since the previous Bull Cycle and the August 9th 2021 week. Despite that, the market doesn't seem to be done buying as the pattern is an Ascending Triangle whose HH top is exactly on the 1D MA200. Those two along with the R2 level...

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GBPJPY remains bearish on the 1D timeframe (RSI = 34.266, MACD = -0.180, ADX = 42.349) despite today's rebound following yesterday's bottom near the S1 level. The key here is that this bottom was made very close to the 1D MA200, which hasn't been crossed since April 6th. The 1D RSI almost got oversold for a moment (near 30.000) yesterday, so all indicators point...

InvestingScope

Gold hit the bottom of the 4H Channel Up and the 4H MA200 turning neutral on 1D and bearish on 4H (RSI = 37.407, MACD = -6.030, ADX = 14.273). The 4H MACD also indicates that we are on bottom territory so we expect a short term rebound and we're bullish targeting the 4H MA50 (TP = 2,035). As long as the designated dashed Channel Down holds, we will then turn...

InvestingScope

NVDA is neutral on its 1D technical outlook (RSI = 48.753, MACD = 1.350, ADX = 31.640) as the Channel Up since the October 13th 2022 bottom has transitioned into a Rectangle where the stock in consolidating. The price is exactly on the 1D MA50 in the last three sessions, making it a key support for a possible continuation of the uptrend. If it holds, it will...

InvestingScope

GBPUSD has been caught up between two long term patterns, a Channel Up since December 2022 and then a Channel Down that emerged after the July 14th 2023 High. Right now it is on the rising wave (dashed Channel Up) of the Channel Down and on the November 29th High got overbought on its RSI (now balanced with RSI = 58.041, MACD = 0.009, ADX = 28.423). Our intention...

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TSLA was rejected on the November 29th test on the LH trendline of July's High but upon the pullback it held the 4H MA50 and reversed. Contrary to the previous LH rejections (Oct 11th, Sep 15th), the stock is being given the chance to make another test on a very short time. Being still bullish on the 1D technical outlook (RSI = 57.232, MACD = 1.890, ADX = 23.357)...

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WTI Crude Oil crossed today under the 1W MA200, which is a level that, even though it broke on occassions this year, hasn't closed a 1D candle under it since February 1st 2021. Those occasions are marked by circles on your chart and as you see despite breaking under it, the price rose intraday closing the candles over the 1W MA200 at the end of those sessions,...

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Dow Jones hit the top of the 1 year Channel Up, achieving an unprecedented High of overbought conditions on the 1D timeframe (RSI = 75.323, MACD = 557.860, ADX = 77.014). The first signs of exhaustion are given by the Stock RSI, which is pulling back. So far this can only be a short term sell signal so we are only aiming for the minimum retrace of the 0.236...

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LLY is holding the 1D MA50 on a neutral 1D technical outlook (RSI = 47.021, MACD = 2.060, ADX = 24.740), which indicates a strong demand level for the stock. The 1D RSI which is under a LH trendline shows that the stock price is at a pre bullish breakout accumulation like the last week of July and early August. If it holds the line, we will buy and aim a +30% rise...

InvestingScope

Nasdaq is pulling back today after the 1D MACD formed a Bearish Cross and the 1D technical outlook turned neutral (RSI = 54.419, MACD = 183.360, ADX = 45.724). This has so far achieved at offsetting the previous overbought condition on the chart. Technically it can be a HH rejection on a newly emerging Channel Up. This can serve as a buy opportunity either on the...

InvestingScope

XRPUSD is neutral on the 1D technical outlook (RSI = 51.497, MACD = 0.005, ADX = 27.267) as the price is consolidating on the 1D MA50, corresting October's rise. We are expecting a few more days of consolidation as the accumulation pattern appears to be similar with February's and early March. On both patterns the presence of a LH trendline serves as a bullish...

InvestingScope

Stacks is rising after forming a Golden Cross on the 1D timeframe and turning highly overbought (RSI = 81.130, MACD = 0.059, ADX = 31.757). This comes after a major bullish breakout yesterday as the price crossed over the LH trendline of the December 1st 2021 All Time High. This indicates that the token has officially entered its new Bull Cycle and the onyl...

InvestingScope

USDJPY is trading inside a Channel Up since the start of the year, with the 1D technical outlook just turning red (RSI = 40.803, MACD = -0.760, ADX = 32.756) as the price reached its bottom under the 1D MA100. The 1D RSI shows a rounded bottom, as it did on March 24th, so it is an optimal level to buy and target the R1 level (TP = 152.000). Since though the...

InvestingScope

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...

InvestingScope

DAX has turned vastly overbought on the 1D timeframe (RSI = 80.023, MACD = 247.400, ADX = 61.180) with the 1D RSI reaching the highest levels since April 5th 2021. It is fast approaching R2 (16,535) which is the index' All Time High, technically a low risk short opportunity. We are looking to take it on next week's opening and target the 1D MA200-0.382 Fibonacci...

InvestingScope

EURUSD crossed yesterday under the 4H MA50 for the first time in 1 month and naturally turned the 4H technical outlook bearish (RSI = 35.006, MACD = -0.002, ADX = 40.444). Combined with the Bearish Cross on the 1D timeframe, this is a medium term sell signal. This combination has taken place before inside 2023 another two times and on both, the 4H MA200 wasn't...