This is an update on our NFLX buy position since we posted the following trade in September 2019 when the price was trading on the $250-260 bottom: We have called for a long term Target of $650 but in the mean-time told more medium term investors to start booking profits near the 385 - 415 Resistance. If you took that trade with us you should be almost +50% in...
Oil has completed three red weeks, making a strong correction since the Iranian crisis. In doing so, the price has just made contact with the 1W MA200 (orange trend line) and since the 1W chart turned neutral (RSI = 45.808, STOCH = 47.665, CCI = -38.1509, MACD = 0.520, ADX = 23.460) we may have a Support and a valid long term buy level. Notice how the 1W MA200...
Bitcoin broke the aggressive 4H Channel Up (RSI = 43.859, MACD = -5.700, ADX = 20.956, Highs/Lows = -3.9533) that started on the January 3rd bottom (6,900) and turned sideways. For the first time since the bottom the price is trading that long below the 4H MA50, which may be turning into a short term Resistance. With the 4H MA200 used as an accumulation area...
Sprint posted a strong rebound yesterday as it found Support on the 4.80 - 4.70 Zone. At the moment it is still on a strong 6-month Channel Down (1W RSI = 34.548, MACD = -0.393, ADX = 48.905, Highs/Lows = -0.4078) but the conditions for a long term bullish reversal may have already started to emerge. The strongest bullish confirmation would be a break above the...
UBER has recovered 50% so far of the sell-off since the July high and is now close to the 0.618 Fibonacci retracement level. With the RSI on extremely overbought levels both on 4H (RSI = 85.104) and 1D (RSI = 84.218), we expect a pull back and consolidation here within the 0.382 and 0.618 width. The 4H RSI is on a Channel Up since the November bottom and its...
This is an update to our HSI position posted in November with regards to the bullish signal on a symmetrical pattern as seen below: At the moment the 1D chart is on neutral price action (RSI = 51.993, MACD = 310.060, ADX = 31.212) which technically is a good buy signal. On top of that, a Golden Cross is about to take place on the 1D chart, which is an even...
DJI is trading on a 2 month long 1D Channel Up (RSI = 67.760, MACD = 270.600, ADX = 45.275, Highs/Lows = 174.000) that seems to have reached an inner peak. With the RSI on the 4H chart also on the Resistance Zone, we are expecting a minor pull back that will give us the opportunity for a long position. The current Support Zone is 28,900 - 29,010 with 28,700 as...
As mentioned on our last analysis ( see it here ), Gold broke into the neutral Triangle area (pink) and 4H turned bullish (RSI = 59.913, MACD = 1.240, ADX = 45.651) as the MA50 got crossed. The 1,563.50 4H Resistance is still holding though and if it doesn't break by tomorrow then we risk invalidating the Channel Up (dashed channel) that has been created. If...
GBPJPY is trading on a bullish 1D channel resembling a Megaphone. The key characteristic is the Higher Low trend line that fuels that uptrend on the 1D chart (RSI = 52.950, MACD = 0.320, Highs/Lows = 0.0000). With the 1D MA50 (blue line) also supporting for now, the trend is upwards and pull back buying towards the 148.000 1D Resistance. A bearish fractal however...
Bitcoin has made contact with the 1D MA200 (orange line) for the first time since November 8th, 2019 and naturally since the non-stop Channel Up rise from the January 3rd, 2020 low that broke the multi month Channel Down (since the June 2019 peak). The MA200 touch has so far delivered a rejection and the selling may escalate as the Channel Up broke. We regard...
DAX is trading within a 1D Channel Up since early November. At the moment the price is next to the Higher High trend line, which is technically an optimal sell entry assuming the pattern holds. With the RSI also at the top of its 2 month consolidation channel, we treat this as a strong medium term sell opportunity. Our Target Zone is 13,165 - 13,100. ** If...
USDJPY is trading within a Channel Up on the 1D chart since the August bottom (RSI = 64.864, MACD = 0.280, ADX = 28.402, Highs/Lows = 0.7486) and having broken both the MA50 and MA200 on the current bullish leg, is almost on the Higher High trend line. So far this is aligned perfectly with our August buy call at the bottom: However being on the Higher High...
USDHUF is trading on a long term 1M Channel Up (RSI = 59.447, MACD = 6.440, ADX = 46.694, Highs/Lows = 6.8414) since 2019 Q4. Right now it is ahead of a key level the 1D Lower High trend line (dashed). A rejection gets us back to the Higher Low trend line of the 1M Channel Up, while a break out begins a new bullish sequence. Our TP is 311.000 if the break out...
Oil is currently trading sideways within the 1D MA200 (orange line acting as a Support) at 57.40 and the 1D MA50 (blue line acting as a Resistance) at 58.90. This is basically the price attempting to create a Support Zone following the 65.70 High after the Iranian tensions (1D turning neutral because of this consolidation with RSI = 44.650, MACD = -0.250, ADX =...
EURUSD is into a transition phase. Even though the 1D Channel Up rebounded on a MA50 supported Higher Low (RSI = 55.115, MACD = 0.001, ADX = 29.829, Highs/Lows = 0.0000), the selling pressure from the Lower High trend line of the 1M Channel Down may push for a trend change as discussed in previous analysis: In our opinion this selling pressure may transform...
Gold respected the 1,536 - 1,540 4H Support Zone which was the symmetrical level from the September 24th Lower High, but the rebound stopped on the Lower High trend line (red dashed line) of the 4H Descending Triangle (RSI = 46.910, MACD = -1.340, ADX = 27.607, Highs/Lows = 0.0000). A break above that line justifies a 1,563.50 test, while a rejection another...
The price is testing again the 1D MA50 (blue line) following a rebound on the Higher Low of the 1M Channel Up (RSI = 54.950, MACD = 0.046, ADX = 37.670, Highs/Lows = 0.0000) it has been trading on since mid 2018. The MACD and RSI on the 1D chart are both waving the same bull flags they did when the price reached previous Higher Lows on the Channel. We treat this...
Facebook has been trading within a 1W Channel Up (RSI = 69.832, MACD = 8.020, ADX = 41.061, Highs/Lows = 15.2786) since early February 2019. Right now the price is only a fraction below the pattern's Higher High trend line which is typically an early bearish signal. On top of that both the MACD and RSI indicators on the 1D chart have reached their respective...