Walmart is pulling back aggressively on what is a technical correction following deeply overbought RSI levels on the 1W timeframe. The 1D technical outlook has already turned bearish (RSI = 41.808, MACD = 0.470, ADX = 29.295) and is expected to extend towards at least the 1D MA100, as per all prior systemic pullbacks inside a logarithmic Channel Up pattern that...
EURGBP is neutral on its 1D technical outlook (RSI = 53.577, MACD = 0.001, ADX = 12.005) as it is ranges between the 1D MA50 (Support) and 1D MA200 (Resistance). Having made a Double Bottom on S1 on March 8th, with that level holding since August 23rd 2023, the current rebound is expected to extend to the LH trendline, essentially the top of the Descending...
AUDUSD is marginally bearish on its 1D technical outlook (RSI = 40.176, MACD = -0.001, ADX = 34.265) as it entered a Channel Down similar to those of August - October 2023 and April - May 2023. That is why we are expecting a bullish reveral the closer we get to the 1.236 Fibonacci extension. As long as the 1D RSI doesn't break into the oversold zone (<30.000), we...
Bitcoin is 238 days into green Gaussian Channel territory and highly overbought on the 1W technical outlook (RSI = 81.515, MACD = 8672.400, ADX = 68.211). What would be bad news to buy for any other asset, is actually great for Bitcoin as historically it has seen its biggest gains while deeply overbought. As far as the Gaussian is concerned, every time it has been...
USDCHF is overbought on the 1D technical outlook (RSI = 74.650, MACD = 0.007, ADX = 47.655) as it hit the top of the yearly Channel Down. That is exactly on the 0.786 Fibonacci retracement level, where the LH prior was always priced, also after an approximately +8.50% rise. The 1D RSI is making a reversal inside the overbought zone and we are about to form a 1D...
Gold is consolidating on the 4H timeframe, which is accurately depicted on the neutral technicals (RSI = 52.765, MACD = 2.520, ADX = 28.648). Such sideways price action is best traded on a breakout approach. If the LH is crossesd, we will buy and target the recent High (TP = 2,220). If the HL 1 or 4H MA100 is crossed under (whatever takes place first), we will...
The S&P500 is highly overbought on the 1W technical outlook (RSI = 77.490, MACD = 202.930, ADX = 73.429) and hasn't provided the slightest correction under the key 1D MA50 trendline since November 3rd 2023. In spite of that, the index can keep rising without providing such a correction, let alone enable us to time it. Its structure of this nonstop rise since...
Sui is neutral on its 1D technical outlook (RSI = 55.334, MACD = 0.025, ADX = 19.421) as it remains inside a Cup pattern. The Fibonacci Channel that has been dictating the price action since October 2023, shows that this is the start of the Bullish Wave to the next HH. A similar Cup was what priced the bottom in October and when the price crossed above it,...
Coinbase is on a bullish 1D technical outlook (RSI = 64.977, MACD = 22.160, ADX = 33.325) but at the top of the Channel Up. The 1D RSI Bearish Divergence on LH suggests that a similar top is close to getting formed (or already has) like on December 28th 2023. All major corrections since 2023 have been at a -39% minimum and reached always the 0.5 Fibonacci from the...
Dow Jones is still on a bullish 1D technical outlook (RSI = 61.232, MACD = 275.500, ADX = 55.346) but today's red 1D candle, being the strongest since February 13th, is a first hint that a short term correction is starting. The price has almost made a HH at the top of the 18 month Channel Up, so the probabilities of a technical pullback are getting stronger. Both...
WTI Crude Oil has almost reached on Wednesday our 83.50 long-term TP and it is time for us to turn bearish and consider a long-term selling approach. Technically, the 1D chart already almost turned neutral (RSI = 56.205, MACD = 1.310, ADX = 32.453) and hasn't even approached the 1D MA200. We are targeting a decline near the 1D MA50 (TP = 78.00). If the price...
Bitcoin remains overbought on the 1W timeframe (RSI = 81.582, MACD = 8133.500, ADX = 73.810) despite the recent pullback. On a Cycle basis, this has been nothing but a healthy correction, typical of Bitcoin when it crosses over its ATH. Being overbought on the 1W RSI has been a very bullish attribute during the parabolic rallies of the Bull Cycles and there is no...
Gold has had a strong rally after holding the 1W MA50 on the week of February 12 2024 and remains almost overbought on its 1W technical outlook in the past three weeks (RSI = 68.498, MACD = 43.750, ADX = 37.013). The grand pattern on 1W has been a Channel Up dating back to late 2019. As shown on the chart, the last two HL were on the 1W MA50 and 1W MA200...
EURUSD has erased most of yesterday's "Fed fuelled" gains with a strong 1D red candle that turned the 1D timeframe neutral again (RSI = 48.908, MACD = 0.002, ADX = 36.543). Amidst this volatility a strong technical development is going unnoticed. The pair is about to form the first 1D Death Cross since September 28th 2023 and only second since July 22nd...
Dow Jones rebounded on the 4H MA200 and the HL trendline of the Triangle pattern and turned bullish again on the 1D timeframe (RSI = 61.324, MACD = 179.870, ADX = 45.459). As the 4H MACD is on a Bullish Cross, we have a clear sequence to follow, bullish if it closes over the LH trendline (TP = 39,450) and bearish if it doesn't (TP = 38,700). The targets are the...
META Platforms may have turned neutral on the 1D timeframe (RSI = 53.558, MACD = 15.800, ADX = 23.681) but remain extremely overbought on the 1W (RSI = 76.808). The stock hit the HH trendline that dates back to January 2018, while the 1W MACD is about to form a Bearish Cross. During these six years, the stock has had five standard corrections (excluding the 2022...
ZRXUSD is incredibly overbought on the 1W timeframe (RSI = 89.293, MACD = 0.117, ADX = 50.025) but that doesn't call for a pullback yet, at least not to the 1D MA50. The reason is that this is the final phase of the Bull Cycle rally that makes a Top inside the R1 Zone and the Sine Wave activity grasps that very accurately. We remain bullish on ZRX, targeting the...
FLOKI INU has grown by an astonishing +1000% since February's lows and naturally is vastly overbought on its 1D technical outlook. Before a mega rally, Floki tends to drop below the 1D MA50, in order to gain accumulation. We will buy a week after it crosses under the 1D MA50 and sell near the 1.5 Fibonacci extension (TP = 0.0010). ## If you like our free...