EURUSD has hit our previous targets set on the trading strategy shown below: The 1D Channel Down broke aggressively to the downside (RSI = 30.873, MACD = -0.004, ADX = 52.518, Highs/Lows = -0.0058) and reached the 1.08900 Support on the 1W time frame. If this level breaks, then we may see a local bottom on the 1.08440 May 11th 2017 low. According to the the...
The index has made a marginal All Time High today but the 1D RSI remains on a bearish divergence (RSI = 59.286, MACD = 52.400, ADX = 20.325) within the 1W Channel Up. This pattern resembles the May- July 2019 top sequence which ended with a strong decline towards the 1D MA200 (orange line). If the 1D MA50 (blue line) is crossed again, we are expecting this time...
Following the merger approval, Sprint hit our short term target zone of of 6.10 - 6.25 much sooner than expected as shown on the chart below: Our attention now shifts towards a much more long term time frame, as the stock broke above its multi year Triangle on the 1W chart, with the RSI crossing above the 70.000 mark for the first time since February 2017...
The pair is on a rebound after hitting the 0.7265 1W Support. The 1D RSI as also bottomed and the 1D chart has turned neutral again (RSI = 43.051, STOCH = 52.103, ADX = 31.122, CCI = -2.6752, Highs/Lows = 0.0000) for the first time since late December. We are expecting this rebound to be extended past the 1D MA200 and our Target Zone is on the 0.75375 - 0.75550...
EURAUD was rejected last week on the 1.6600 bottom of the 1W Resistance Zone. The 1D chart has already turned neutral (RSI = 52.665, CCI = -53.479, MACD = 0.006, Highs/Lows = 0.0000) as it is approaching the MA200 and with the RSI still halfway to its support level, we expect further downside. Our target is the 1.6000 top of the 1W Support Zone. ** If you...
BIIB closed the week around +25% as news regarding a crucial patent ruling came out in the company's favor. With the company's earnings also higher than the forecast, investors seem upbeat with the stock's dynamics. Even though the 1D chart turned overbought (RSI = 75.219, MACD = 6.690), on the weekly chart there is still a clear Resistance Zone at 370.00 - 389.00...
UIS made a massive +60% weekly rise after it agreed to sell its federal government contracting division to SAIC for $1.2 billion. The result technically, was an extremely overbought 1D chart (RSI = 80.509, MACD = 0.480, ADX = 39.766) with the price approaching the 21.00 Resistance (Since September 2018). There is an interesting technical pattern when the RSI hits...
Oil has been consolidating this week on the 4H chart (RSI = 41.638, MACD = -0.340, ADX = 27.678, Highs/Lows = -0.0086) following the massive drop since the "Iran tension" High. We are seeing the RSI on a bullish divergence at the moment but the uptrend has so far stopped on the MA50 (blue trend line). Since the price is trading around the 1W Support levels, we...
Gold is trading inside a Channel Up on the 1D Chart (RSI = 55.748, MACD = 11.990, ADX = 25.111, Highs/Lows = 0.0000) currently on the Higher Low trend line. At the same time the RSI is on a bearish divergence, a formation which has been actually bullish on Gold in recent months/ years. In fact the current sequence is very similar to the June-July 2019 Channel Up...
AMZN marginally broke the formet All Time High (2,050 - 2,055) this week, which was a Resistance level that has been holding for 1.5 years. With the EPS smashing the forecast last month turning 1D extremely bullish (RSI = 72.875, MACD = 46.790 ADX = 23.292) we have turned very bullish on the stock as it is repeating the fractal (2014/2015) that preceded its last...
We have been following this stock since its dramatic fall in 2018, closely monitoring where the bottom could be. Following last month's results, the price skyrocketed above $15.00 from the all time low of $9.50. This is not yet a reason to get excited as the jump found Resistance on the 1D MA200 (RSI = 70.494, MACD = 0.890, ADX = 31.232). The MA200 (orange line)...
CL is testing this week its All Time High level making a strong monthly jump which turned the 1D chart overbought (RSI = 76.424). No matter how odd this can be on the short/ medium term, this long term pattern is in the stock's favor as the MACD on the 1M chart has formed a very bullish pattern, which is an indication of a bottom and the start of a very aggressive...
GBPNZD followed the direction set on our November call and pull back to the symmetrical (black dashed line) support: As mentioned then, this is repeating the late 2017/ early 2018 pattern. Since the uptrend was rejected on the 2.04750 1M Resistance and the price pulled back, with 1D turning neutral (RSI = 55.295, ADX = 26.734, Highs/Lows = 0.0000), we are...
Silver is trading within a Channel Down on the 4H chart (RSI = 43.954, MACD = -0.061, Highs/Lows = -0.0197) since January 7th. The RSI sequence however is currently posting a short term bullish signal. Our Target Zone is 18.000 - 18.100. If however the dashed Higher Low line breaks then the pattern will most likely complete the Lower Low on a roughly -5% sequence...
Copper is on a three day bullish streak since the February 3rd rebound near the 2.4800 Support. The 4H chart has already turned bullish (RSI = 54.648, ADX = 36.919, ADX = 36.919) but 1D is still bearish (RSI = 34.595, MACD = -0.070, ADX = 52.434, Highs/Lows = -0.0336) so the risk remains. That risk is concentrated on the 1D MA200. As you see the MA200 on the 1D...
EURUSD holds no surprises as it is extending the Channel Down (RSI = 45.799, MACD = -0.001, Highs/Lows = 0.0000) we mentioned last week on this buy call: With the pattern intact, we are bearish again towards 1.0990 on the short term, on a perfect symmetrical level as you see on the chart, an ideal technical extension of the Head and Shoulders posted 2 weeks...
Oil has been on a strong sell sequence since the January 8th Top (tensions with Iran) and has now broken into the 51.40 - 50.55 1W Support Zone. This level has been holding and accumulating buyers since June 5th, 2019. At the moment 1D may be on an oversold condition (RSI = 27.481, MACD = -2.120, ADX = 46.874) but the RSI is also on the 20.50 June 5th low....
DAX is on a strong correction (short term for the time being) with the 4H Channel Down (RSI = 38.828, MACD = -65.800, Highs/Lows = -254.2571) approaching the 12,945 - 12,885 1D Support Zone. On the short term our 13,100 Target on the previous sell call has been hit: Right now we are focusing on where the Support levels are on this strong correction, and where...