InvestingScope

InvestingScope

The short term pattern on the 1H chart is a Rectangle and as long as 4H remains neutral (RSI = 49.674, ADX = 13.422, Highs/Lows = 0.0000) the price will be trading within the 1,659 Resistance and 1,624.50 Support. We recommend short term traders to work the whole array, seeling near the Resistance and buying near the Support. ** If you like our free content...

InvestingScope

Oil has seen a sharp sell-off this week as the coronavirus threat is escalating. The price broke the weekly support levels and the 42.20 Support from the August 2016 low is the last monthly level standing. This level is conveniently place exactly on the Higher Low trend line of the 1M Channel Up (RSI = 41.589, MACD = -0.200, ADX = 9.410) that started in 2015. In...

InvestingScope

Both short and long term targets have been hit on SPX as shown on the following charts: At the moment we are focusing on the longer term timeframes and on 1D in particular (which is oversold almost with RSI = 27.611, MACD = -19.380, ADX = 32.416, Highs/Lows = -170.9777). Our point of interest is the long term Channel Up that S&P500 has been trading on...

InvestingScope

Following our previous Sell Signal on DAX (Descending Triangle) which you can see here: We turn to a much longer time frame, the Channel Up since the December 2018 bottom. Among fear of the coronavirus outbreak, the index has crossed below the 1D MA200 (RSI = 32.658, MACD = -1.310, ADX = 34.677, Highs/Lows = -1.6279) and is now testing the Higher Low trend...

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NVS was among the high cap losers yesterday on the renewed coronavirus tensions and pulled back dramatically (-6.90%). This however can be the buy opportunity of the next several months as it hit the 1D MA200 (orange line) and is approaching the Higher Low trend line of the 1W Channel Up (RSI = 45.378, MACD = 1.640, ADX = 65.865). Even though the MACD indicated...

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Alphabet Inc wasn't excluded by today's Coronavirus led pull back on the stock markets and declined below the 1D MA50 (blue line). The 1D chart turned bearish (RSI = 38.867, ADX = 33.996, Highs/Lows = -57.8228) but the price remains well within the long term Channel Up that started in July 2019. The 1D RSI just hit a 7 month Support and in fact the last time that...

InvestingScope

This is an update of our latest idea seen below: Following the bullish divergence on the 4H RSI, the pair made a bottom at 1.07755 and the started rising methodically on a Channel Up (RSI = 58.416, MACD = 0.000, ADX = 24.990, Highs/Lows = 0.0024). Having already crossed above the 1.08630 Lower High trend line, the price not only succeeded in breaking the 4H...

InvestingScope

Gold has hit both our short and long term targets as mentioned on the calls below: We have now spotted a good sell opportunity as the price not touched the 1,680 target but also turned overbought on the 1D chart (RSI = 81.130, MACD = 23.820, CCI = 238.4961, ADX = 48.950). With the 1D MACD on a Double Top, the current pattern appears to be replicating the...

InvestingScope

Oil has finally entered a consistent uptrend on the 4H chart, practically being within a Channel Up since the Feb 04 bottom (RSI = 59.395, MACD = 0.500, ADX = 23.410, Highs/Lows = 0.0000). The MACD shows that it can be sustainable in the near future as the buy/ sell points seem quite obvious. It is also positive that the 4H MA50 (which was formerly a strong...

InvestingScope

SPX has been trading within a Channel Up on the 1W chart since the October 03 2019 low (RSI = 68.663, MACD = 94.760, ADX = 55.372, Highs/Lows = 80.7537). At the moment the price was rejected near the Higher High trend line and since the RSI on the 1D chart in on a bearish divergence we expect the pull back leg for a Higher Low. The 1D MA50 last time supported the...

InvestingScope

Gold has hit our 1,595.50 Target (as per our last buy call seen at the end of this analysis), and being within a 1D Channel Up since the Iran tensions (RSI = 70.008, MACD = 14.450, ADX = 38.078) is now testing the 1,611.50 Resistance made around Suleimani's death. That is also the start of the Higher High zone of the Channel Up and if broken we expect a final...

InvestingScope

The pair has been trading inside a 1D Channel Down (RSI = 50.947, MACD = -0.002, ADX = 19.228, Highs/Lows = 0.0000). The neutral technical action indicates that it is on/ near its Lower High trend line and as seen on the chart that is very much the case. The pattern resembles the March/ May 2019 sequence (on the MACD as well). We are expecting a similar behavior...

InvestingScope

DAX is trading inside a 1D Ascending Triangle (RSI = 57.402, MACD = 123.300, ADX = 27.184, Highs/Lows = 79.6214) and currently is testing the Higher High trend line. With the RSI though on a bearish divergence since practically the start of the pattern, we are expecting a pull back soon. Notice how the RSI is also on the High of its Channel Down (bearish...

InvestingScope

The pair has been on a 4H Channel Down (RSI = 33.929, MACD = -0.002, ADX = 34.807, Highs/Lows = 0.0000) since the start of February. At the moment the price action appears to have turned sideways with 1.082 as the Support and 1.08630 the Resistance. This is the longest consolidation it had within the Channel Down. With the 4H RSI on a bullish divergence, this can...

InvestingScope

EURCHF has been on a strong long term down trend since the start of 2018. The 1W chart is naturally nearly oversold (RSI = 27.764, MACD = -0.011, ADX = 58.343, Highs/Lows = -0.0140) after such a prolonged bearish pressure. However the price has just made contact with the 1M Support (1.0620) with the MACD (1W) also on its multi year Support Zone. We are therefore...

InvestingScope

DXY has been trading inside a very strong 1D uptrend (RSI = 71.713, MACD = 0.440, ADX = 48.457, Highs/Lows = 0.4165) since the December 2019 bottom, almost turning overbought. The dominant trend on the long term (1W, 1M chart) is still bullish as the Dollar Index has been within a Channel Up since May 2018. However the price is now close to a symmetrical Higher...

InvestingScope

DJI is extending the 1D Channel Up (RSI = 60.150, MACD = 193.000, ADX = 15.316, Highs/Lows = 339.6071) after the MACD turned bullish following the January 31st bottom. However as the overall bullish pattern is the 1W Channel Up that started in July 2019, is near its Higher High trend line again, there is a high chance of a pull back. Last time the 1D MACD turned...

InvestingScope

Oil appears to have found Support following the very aggressive sell-off that started on January 7th after the Iran tensions began to ease. It has so far successfully tested the 49.30 level as a Support twice and is trading sideways within that level and the 52.20 Resistance on the 4H chart (RSI = 57.881, MACD = 0.140, ADX = 33.370, Highs/Lows = 0.4321). Despite...