EURUSD has been trading on a short term Channel Up on the 1D chart (RSI = 57.390, MACD = 0.003, ADX = 31.865, Highs/Lows = 0.0004) since the November 29th Double Bottom. At the moment the price is testing the Lower High zone (orange shade) of the long term multi-month 1M Channel Down that it has been trading in since June 2018. At first glance is seems to be...
With tensions in the Middle East escalating, Gold broke all 1D Resistance levels in the process. The price is currently testing the 1,558 September 4th Top on overbought 1D technicals (RSI = 79.407, ADX = 73.789, Highs/Lows = 41.3928). Assuming the bonds and stock markets don't decline dramatically, we expect traders to take profits on this Resistance level...
Oil has hit the 63.90 1W Resistance and is naturally retracing, despite the Middle East geopolitics and lower than expected Crude Oil Inventories today. This is purely a technical reaction upon reaching a long term Resistance level and 1D approaching the sell zone (RSI = 68.142, ADX = 54.212). We are expecting a pull back towards the 60.00 Symmetrical Support or...
Bitcoin delivered he strong rebound we expected as we've mentioned on the following trade when the price was still on the 6,500 bottom: At the moment we are on a critical short term level as the price is approaching the 7,680 - 7,890 1D Resistance Zone. Short term traders who followed our bottom buy call may start booking profits and wait for a convincing...
Gold has gotten into a tigher trading range on the 4H chart as it turned from a Channel Up to a Rising Wedge (RSI = 63.814, MACD = 2.280, ADX = 20.478, Highs/Lows = 4.5299). 1D is finally approaching RSI levels of 60.000 (currently at 58.474) for the first time in 3 months as the price action is building up a sustainable uptrend. This uptrend within the 4H Rising...
After breaking below the 4H Higher Low trend line (dashed line) and the 4H MA50 (blue line), the pair is now also below the 1.11015 Support, which effectively broke the Triangle (red lines) to the downside (RSI = 38.476, MACD = 0.0000, ADX = 36.881). With the RSI on a new low for December, we are expecting a fill on the lower key Support levels, namely: 1.10675...
We've been bullish on TSLA since May 21st and the 180 bottom right when most were calling on a death spiral. As you see on the chart below both 360 and 380 Targets have been hit, making us over +100% return on the stock in a few months: Right now however we are getting some medium term sell signals on the 1W chart that makes us call for caution. First of all...
Bitcoin has been trading inside a 1W Channel Down (RSI = 39.239, MACD = -68.900, Highs/Lows = -868.2807) since the late June 13,900 peak. This pattern has provided clear sell (on Lower Highs) and buy (on Lower Lows) trading opportunities. At the moment the price is making a rebound on the 6,500 Support with an RSI Bullish Divergence on the 1D chart. Technically...
WTI Crude Oil is on a short term Channel Up on the 1H chart (RSI = 52.630, MACD = 0.040, Highs/Lows = 0.0000). Those neutral technical indicators suggest that we may be near a buy level and as we see on the chart the price is indeed near the Higher Low trend line. Additionally we see a double tier Support level provided 1st by the 1H MA50 and 2nd by the MA200. So...
DAX has been trading within a 1D Megaphone pattern (RSI = 55.442, MACD = 76.600, Highs/Lows = 0.0000) since November 6th. This week the price was rejected on the Higher High zone and is still on the decline towards the 13,176 Pivot line which is also where the MA50 on the 4H chart is. This is a possible Support level. If this level breaks however, we are...
GBPJPY made a new strong bullish leg (after breaking the 1W MA50 in October) on the 1W chart (RSI = 68.011, MACD = 1.620, Highs/Lows = 5.9850, ADX = 42.195) that succeeded at crossing above the 1W MA200 last week. That was the first time it crossed above that level in 3 years. Last time it crossed above the 1W MA200 (then after trading below it for 4 years) was in...
The pair has crossed the 1D MA200 (orange line) for the first time since late June (2019). In doing so it almost touched the inner Lower High trend line (dashed line) of the 1M Channel Down (RSI = 45.074, MACD = -0.008, ADX = 44.006, Highs/Lows = 0.0000) that started in August 2018. This trend line hasn't been crossed since September 2018. That makes the current...
Following Trump's phase 1 trade deal tweets, DJI rose but the uptrend stopped on the Higher High (bold black) trend line on the 4H chart. With 4H technicals turning neutral (RSI = 56.131, MACD = 85.700, Highs/Lows = 0.0000), this may be an early signal that today's High may deliver a rejection. How far can that go? The previous two Higher Highs delivered a...
Nikkei has been on a strong 1D uptrend since the August rebound on the 20,115 1W Support and just recently 1D turned neutral (STOCHRSI = 53.869, ADX = 18.607, Highs/Lows = 0.0000) showing possible signs of exhaustion. The 1D RSI is on a bearish channel, diverging from the price action and that could be a first sign of a short term trend change. We have traced...
Dow Jones futures have so far failed to recover the 28,200 All Time High and has turned neutral on 1D (ADX = 17.288, CCI = 8.0129, Highs/Lows = 0.0000). On the 4H chart we see a Death Cross formation emerging (MA50 crossing below the MA200). Within the monthly Channel Up we've been trading in for the majority of 2019, every time a 4H Death Cross emerged, the index...
DXY dropped again below the 1D MA200 (RSI = 40.089, MACD = -0.130, Highs/Lows = -0.2864, ADX = 25.789) approaching once more the Higher Low trend line of the 1M Channel Up that has been trading within for over a year. The pattern resembles the early 2019 sequence and as you see on the chart this could be the 7th phase that will initiate the uptrend. Two targets...
SPX is currently on the wrong foot again as last week's quick recovery on the impressive Nonfarm Payrolls is proving to be too unstable. The index is well within the multi month 1W Channel Up (RSI = 64.964, MACD = 69.900, Highs/Lows = 55.7180) but as it trades on the Higher High trend line, a medium term pull back for a Higher Low is technically justified. The...
Nifty has turned neutral on the 1D chart (RSI = 51.602, ADX = 18.513) after failing to convincingly break the May Top and All Time High. Regardless of that, the dominant long term trend remains bullish as the price is comfortably trading within the 1M Channel Up (RSI = 62.339, MACD = 559.250, Highs/Lows = 313.4073) for 2 years. However, the RSI on 1D is posting...