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...
The bank like the industry as a whole is on a long term bearish trend since the pre subprime mortgage crisis in 2007. On the 1W chart we see a clear bearish curve (RSI = 42.379, MACD = -0.083, ADX = 31.053, Highs/Lows = -0.0432) with Lower Highs and 3.1000 as the Support. Since 2009, once the price crosses the 1W MA200 (orange line) SAN becomes a long term Sell...
Deutsche Bank (DB) has been on a strong medium term rise on the 1W chart since the August low (RSI = 65.146, MACD = 0.232, ADX = 21.619, Highs/Lows = 0.9691). This rise is the bullish leg of the long term Channel Down (since 2012), that is aiming for a Lower High inside the pattern. The previous Lower High bounces have been 85% on average and the last one made a...
We have discovered an interesting pattern that may explain a lot regarding Gold's current price action. Gold's current rise may be the final bullish leg towards testing the 1,800 All Time High based on the early 2000s rise. As you see on the chart today's fractal (2014 - 2020) is quite similar to the one of 1997 - 2003. The chart in use is the 1W. At the moment...
We are looking more deeply into Tesla's technical potential after its very aggressive (and continuous) rise since October. We were among the first to enter this rise early at 205.50 posting that trade back in May 2019: Needless to say we didn't expect it to rise that strongly on such a short period of time. This is a parabolic move on the 1W chart which...
AUDJPY broke below the 1D Channel Up pattern that started in August and after a Double Top 1D is again strongly bearish (RSI = 28.605, MACD = -0.390, Highs/Lows = -1.4739). This bearish break out puts the price below both the MA50 and MA200. If a Channel Down emerges then wait for a pull back to short. Otherwise since the 73.350 Support broke, we expect further...
CADNOK is on a strong 1D Channel Up (RSI = 69.678, MACD = 0.025, ADX = 55.588, Highs/Lows = 0.0757) that started on December 30th when the price touched the 6.72000 Support. It is well above the MA50 and appears to be repeating the previous bullish leg that rebounded on the 1D Support. The pressure zones are symmetrical as seen on the chart. This Channel Up...
The UK index was strongly sold near the 7,730 Resistance this month and has so far reacted with a decline. This drop is so far being contained on the 1D MA200 (orange line). 1D has turned neutral (RSI = 47.582, MACD = 11.270, ADX = 21.739) which is normally an indication of support. Following the Golden Cross late in December, this sequence is similar with the...
USDCAD is on a strong bullish leg since the December 31 low on the 1D chart (RSI = 60.690, MACD = 0.001, ADX = 52.777, Highs/Lows = 0.0054). The 5 month trend is a bearish Megaphone and the underlying long term pattern is a Falling Wedge (since January 2019) and those are what we are focusing on. The last 3 sell events took place on the Lower High trend line of...
GBPUSD has been on a strong bullish trend since mid August and the rebound on the 1.19980 1W Support. The sequence has been however rejected on the Lower High trend line (bold black line) of the long term (since 2016) Descending Triangle and is since consolidating around the 1W MA200 (orange line). This consolidation has turned 1D neutral (RSI = 45.684, MACD =...
XPTUSD reached our 1,040 Target on our long since October 31st, 2019 as seen on the buy call below: The 1M Bullish Megaphone since September 2018 is still holding (RSI = 57.612, MACD = 6.190, ADX = 38.381, Highs/Lows = 74.3178) and in fact the 1,040 top was its Higher High as seen on the chart. We are now expecting its technical pull back which based on the...
EURUSD eventually broke its former Channel Up and formed the Head and Shoulders that we first talked about on our previous analysis: Our first TP of 1.10650 is already hit and even though we remain bearish on the long term (1.0990 and 1.0890) we see a Lower Low forming on the current 4H Channel Down (RSI = 28.505, MACD = -0.002, ADX = 39.986, Highs/Lows =...
Gold is trading inside a 4H Channel Up (RSI = 65.937, MACD = 6.370, ADX = 39.644, Highs/Lows = 8.2501) since the 1,535.50 bottom earlier this month. The pattern has reached the Higher High trend line today, which is also the 0.618 Fibonacci retracement level from the 1,611 top. This rise was of course largely assisted by the global alarm regarding the coronavirus...
S&P has been trading inside a 4H Channel Up (RSI = 50.132, MACD = 13.590, ADX = 48.232) with the 4H MA50 (blue line) supporting. The negative fundamentals (China virus, disappointing earnings) ahead of the Fed Interest Rate Decision this Wednesday, can make investors sell initially (and ask questions later). There is a strong break out level to consider and that...
DXY has been on a strong downtrend since the early September top. Last week this downtrend broke to the upside and with the 1D chart turning bullish again (RSI = 62.141, MACD = 0.060, ADX = 22.482, Highs/Lows = 0.3161) we are expecting a new bullish leg towards the 99.10 - 00.60 Zone. However there are two dark spots we need to point out: - The first is the 1D...
GE is on Higher Highs on the 1W chart for the first time since August 2016. That was the last peak before a strong 2 year bear cycle hit the company. As you see on the chart General Electric's trend is a parabolic Channel starting with the All Time Highs in 2000. This long term curve has entered its asymptotic phase and may initiate the recovery back to the...
AAL has completed 2 years since the January 2018 top. The downtrend since then has been non-stop and 1W even formed a Channel Down with the MA50 (blue line) acting as a Resistance and Lower High. With 1W however turning neutral (RSI = 49.107, STOCH = 47.539, ADX = 14.260, Highs/Lows = 0.0000) after finding Support at 24.70 (has been holding since June 2016) and...