WTI Crude Oil is trading within a long term ascending Channel, which we well pointed out a couple weeks back: The 4H chart though is turning neutral again (RSI = 49.100, MACD = 0.140, ADX = 33.703) due to the continuous consolidation with the 4H MA50 as Support. As seen on the chart, this resembles the top build-ups on July 8th and 29th, with the MACD and RSI...
Gold is trading within a Channel Up on the 1H chart (RSI = 48.066, MACD = 1.570, ADX = 17.753) supported on the 1H MA50 since the past 24 candles. This is after the very sharp decline we predicted on the chart below: At the moment the 1H MA50 is tha catalyst, because as long as it trades above it, the bullish bias are more towards 1,985. If the 1H MA50...
This is a technical overview that doesn't include the fundamental aspect of the upcoming U.S. stimulus package vote. While that event can have a largely unexpected outcome, we can formulate a careful medium term strategy based on what technical levels Gold brakes. The 4H chart has just turned bearish (RSI = 42.679, MACD = 5.420, ADX = 37.414), after being...
NG hit today the Higher High trend-line of the Megaphone pattern that it has been trading in since the start of the year (1D RSI = 69.350, MACD = 0.105, ADX = 33.132). The 1D MACD has entered its 1 year Sell Zone. We are taking this as a strong Sell Opportunity at least towards the 0.618 Fibonacci retracement level, which at the moment is at 1.846. This idea is...
DJI broke above the middle of the Channel Up (4H RSI = 75.071, MACD = 190.800, ADX = 49.424) that it is trading in since the June 15th bottom, and is currently consolidating. That middle line has been particularly important as on all previous occasions it provided a rejection. The MACD is also trading inside the July Sell Zone. As a result, we are expecting a pull...
DXY has successfully tested the 92.50 Support today twice. If it holds then on the 4H chart (RSI = 39.680, MACD = -0.240, ADX = 46.240) then that is a solid sideways opportunity within the Support and the 94.00 Resistance (which has also been tested twice (red arrows). As you see the MACD pattern is quite similar with that of the June consolidation. ** If you...
The U.S. Dollar Index (DXY) has given us the strongest long-term (multi-year) Sell Signal possible. On the monthly chart, it technically entered into bearish territory (RSI = 38.790, MACD = 0.130, ADX = 33.519) but the best is seen using the Sine Waves. This clearly shows the multi-year cycles of DXY over the course of the decades. As you see we are past the top...
BABA is currently consolidating on the 1D chart (RSI = 59.048, MACD = 6.230, ADX = 19.815) but the important news of the month is that it broke in July two very bullish long-term patterns (the blue Channel Up and the dashed Higher Highs trend-line since Jan 2018) to the upside. This resembles the expansion phase that Alibaba had is 2017. If an identical +140%...
SINT not only formed its first ever Golden Cross (which is a very bullish technical formation), but also closed the first 1D candle above the 1D MA200 (orange trend-line) since November 2017. This is a very bullish long-term mix for the stock and if the 3.25 Resistance breaks we are ready to buy and triple our investment at 10.00. ** If you like our free...
SSTK broke the Lower High trend-line that has been keeping the stock bearish since September 2016. The 1D chart may be overbought already (RSI = 88.635, MACD = 3.340, ADX = 68.722) and rightly so, but the 1W chart still has considerable room to expansion. Our moderate Target is 62.00 with the top one being at 74.40. ** If you like our free content follow our...
EURUSD has extended its strong recovery since May 15th, and is almost at the Higher High trend-line of the Channel Up that started after the March peak. The 1D chart is naturally overbought (RSI = 79.162, MACD = 0.013, ADX = 72.893) with the RSI in particular testing the 81.00 Resistance which was set on the March 9th High. We have to go back to September 2012 in...
Oil just broke the 4H MA200 which hasn't been touched since May 3rd. The chart is close to turning oversold (RSI = 29.01, MACD = -0.170, ADX = 32.681) so it is natural to see some buying now, especially as the Higher Low trend-line of the June Channel Up was almost touched (the dashed Channel). If it holds, we expect 42.00 - 42.50. If it breaks, we will halt...
Sesen Bio Inc has turned overbought on the 1D chart (RSI = 86.656, MACD = 0.058, ADX = 57.197) after a strong 10 day bullish sequence that broke above both the 1D MA50 and MA200 periods, but remains a buy opportunity as the MACD remains below the 9-month High. On top of that we have an emerging Golden Cross, while the price seems to be still within the...
AXIM has turned bullish on the 1W chart (RSI = 64.496, MACD = 0.100, ADX = 26.272) as after the break-out above the 1W MA50 (blue line), it is now on the 3rd straight week of trading above it. This is the first sustainable sequence above the MA50 in years, supported by a strong RSI. That break-out was made at the same time as the 1D Golden Cross, which is...
MSFT made a (near) rebound on the 1D MA50. Even though the 1D chart is technically neutral mostly (RSI = 49.013, MACD = 2.140, ADX = 33.401), the RSI is providing the first strong Buy Signal since March, as it entered the 41.50 - 48.00 Buy Zone. That was a strong accumulation region from August 2019 to October 2019, so even though the price may drop some more and...
AAPL hit last month our $350 Target we set on October 2019 when the price was trading at $229: We are turning buyers again on Apple as on the 1D chart (RSI = 54.619, MACD = 7.940, ADX = 38.567) the price made a strong rebound on the MA50 (the blue line). On top of that, the RSI made its own rebound on the 47.00 Buy Zone which combined with the MA50, have...
DAX is trading within a Channel Up on the 4H chart (RSI = 36.715, MACD = -1.100, ADX = 34.094) since lat June. Following the Higher High at 13,300, the index pulled back to make contact with the 4H MA50 (blue line), which last time (July 10th) provided a rebound. We expect a similar pattern but if it fails we are prepared to close the position and turn into...
Oil is trading within a Channel Up on the 4H chart (RSI = 47.620, MACD = 0.080, ADX = 19.348) with the price currently testing the Inner Higher Lows trend-line (dashed). This is technically a buy signal based on the candle action since July 10th. If that breaks we will buy on the Channel Up bottom (Higher Low trend-line) aiming at a price near the 42.50...