The largely overbought 1D technical state of Gold (RSI = 72.715, MACD = 33.680, ADX = 69.728) leaves the price unaffected as it continues to rise having formed a new 'January' Channel Up, following that of December. Every Low to High has been so far +3.19% and as such we are long aiming at 1,955. If the Channel Up breaks to the downside, we will short below the...
After the enormous rise that BTCUSD has seen this year, the price is taking a pause and has started to consolidate. That is partly to harmonize the still vastly overbought 1D technical aspects (RSI = 87.317, MACD = 1105.700, ADX = 82.682) and to some extent short term traders booking profits. As an analytics firm, we suggest that a double time-frame analysis is...
Two patterns have been spotted on GBPUSD: an Inverted Head and Shoulders that formed the market bottom on September 26th and a Channel Up that is guiding the price higher. The 1D technicals are marginally above neutral levels (RSI = 55.748, MACD = 0.004, ADX = 34.526), indicating that there is still considerable upside potential. The price is testing the 1W MA50...
Oil broke on Friday above the 1D MA50 but sees heavey selling pressure today retracing back below, after the 4H RSI double topped on the 70.000 overbought level. In fact technically the 4H chart is about to turn neutral (RSI = 56.810, MACD = 0.880, ADX = 49.898) and will search for the 4H MA200 - 4H MA50 Zone for the first batch of buyers. The RSI rejection is...
The Dow Jones Index on the 1W chart technically got above the neutral point only last week (RSI = 59.193, MACD = 453.990, ADX = 36.049), which on the long-term (year to year basis) are levels the market deem good enough to buy. The price is establishing the 1W MA50 as its new long-term Support and if we draw the log Channel Up of Dow since the bottom of the 2008...
XAUUSD has been trading inside a Parabolic Channel for 2 months. Such patterns technically end with a break down of the formation and pull backs to lower MA periods and Fibonacci levels. The parabolic state of Gold is evident on the overbought technicals both on the 1D and 4H time-frames (4H RSI = 72.910, MACD = 14.330, ADX = 59.897). The 4H RSI in particular...
The USDJPY pair is approaching the 1st Support level of 125.510 (May 24th 2022 formation) after a double top rejection last Friday. Trading inside a Channel Down for almost two months, naturally on very bearish 1D technicals (RSI = 30.378, MACD = -1.840, ADX = 17.362) with the RSI almost oversold, it is expected that a technical rebound will occur. The short-term...
Bitcoin is extending the gains since the start of the new year and entred a highly important Resistance Band that was a major Support Band from June until October. Technically the market is extremely overbought (RSI = 82.276, MACD = 397.000, ADX = 57.655) and as it approaches a double psychological zone consisting by the 1D MA200 and the 20,000 level, it expected...
The US10Y hit today, in the aftermath of the 6.5% U.S. CPI, the Higher Lows (HL) Support line that has been in effect for 9 months (started on March 7th 2022). With 1D technicals bearish but not heavily (RSI = 42.655, MACD = -0.035, ADX = 36.284), the trend is undecided at the moment, at least on the short-term. Though we see a clear Channel Down since the...
The DXY is on a bearish day, making a 7month Low, after the U.S. CPI report matched the 6.5% forecast. With 1D technicals deep in red (RSI = 35.059, MACD = -0.730, ADX = 22.946), the 1D Death Cross last week (January 5th) and the Bearish Cross on the MACD, keep the trend bearish within the 2month Channel Down, targeting 101.260 (May 30th Low) However, with the...
The EURUSD pair is on a very strong Resistance juncture. On the 4H time-frame, the technicals are highly overbought (RSI = 70.959, MACD = 30.330, ADX = 35.204) and the RSI in particular hasn't been that overbought since October 26th 2022, which was a short-term top at the time leading to a pull-back. The main pattern is a Bullish Megaphone with upside potential...
The S&P500 is under high volatility at the moment after the CPI report matched the forecast (6.5%). The index is trading inside a Channel Up, above both the 4H MA200 and 4H MA50, with the two close to forming a Golden Cross. With most 4H technicals overbought (RSI = 70.997, MACD = 30.350, ADX = 39.740) and the price approaching the Lower Highs Resistance that is...
Dow Jones closed Friday clearly above the 1D MA50 (blue), switching its 1D technicals back to neutral/ bullish (RSI = 54.657, MACD = 2.080, ADX = 14.593). Following the Golden Cross on December 14h, the index is well supporting both on the former Lower Highs Resistance of the Bear Market as well as a Higher Lows line that started on the June 17th Low. The latter...
Gold formed today the first 1D Golden Cross since February 10th 2022, which led to the Ukraine/Russia war top. Based on the structre though (1D RSI = 67.910, MACD = 26.210, ADX = 46.359), it looks more similar to the Golden Cross of June 23rd 2021, which was also formed on a strong rally following a 240 day Bear Market. During that past Golden Cross, the market...
Dow Jones broke today the 33,460 - 33,500 Resistance Zone that was intact since December 22nd. At the moment it is attempting a test of the 4H MA200, the first since December 15th. Trading within a Channel Up and with 4H technicals bullish (RSI = 62.540, MACD = 15.660, ADX = 24.447) while the 1D MACD is about to make a Bullish Cross, we expect a strong bullish...
The S&P500 index has been trading within a Channel Down pattern on the 1D time-frame ever since the December 1st rejection on the Lower Highs Resistance (Jan 4th) and the Dec 13th rejection on the 1W MA50. With the 1D technicals neutral (RSI = 50.198, MACD = -15.660, ADX = 19.596), this is technically the level to sell as the price is at the top of the Channel...
Yesterday's buy is so far working out perfectly as EURUSD bounced exactly after touching the 4H MA200 (1.05278) and just hit the 4H MA50 (1.06355), which is the short-term Resistance. I am now booking my profit as it is substantial for one day and with the 4H technicals turning from oversold to neutral (RSI: 47.296, MACD: -0.002, ADX: 37.053), I will either buy...
As WTI failed to close the 1D candle above the 1D MA50 (81.07) yesterday, it got rejected and turned heavily bearish after closing below the 4H MA50 (78.66). With 4H now on Lower Lows and the RSI approaching the oversold barrier (RSI = 32.360, MACD = -0.350, ADX = 39.455), we could expect a dead cat bounce to test the 4H MA50 and make the sell entry if you missed...