Bitcoin is having a tough trade today dropping by more than 500 points. Looking carefully on the past 1 month trading action, we can see that this pattern has appeared again in the last 10 days of August. After a peak near the 11,000 Resistance the price declines, consolidates and then makes the final drop towards the 9,360 1D Support. Because of the uncanny...
Gold is coming off the Fed meeting with a rebound on the 1,480 - 1,483.50 1D Support Zone. 4H remains neutral (RSI = 46.249, Highs/Lows = 0.000) and the reason is because it is still in range of 1,483.50 - 1,510, which is practically rhe Right Shoulder of the 1D Head and Shoulders pattern (also neutral on RSI = 48.857). Since the 1D Support was respected for the...
The Korea Composite Stock Price Index is currently on a 5 week bullish streak (5 green 1W candles in a row) approaching the overbought zone on 1D (RSI = 70.924). The important development on the 1W chart though has been the Death Cross formation (MA50 below MA200) earlier this June. This is generally a bearish signal but last time that happened in February 2009...
Following the Double Top Rejection on the 10,470 4H Resistance, Bitcoin has developed a Channel Down on 4H (RSI = 43.761, MACD = 018.900, Highs/Lows = -11.4496). As the technical indicators show we are closer to the Lower High and the expected move would be to expect a new Lower Low. If the Channel is symmetrical on the Lower Lows then the next one should be...
The Australian stock market (AXJO) is currently rising after a strong pull back that took place in July. This rejection happened because the market reached its All Time Highs of October 2007. Despite the rather strong selling manner in which it was conducted, we believe that this sell sequence is not over yet and a stronger correction is needed. The reason for...
HFC is currently testing the August 01 High (53.90) and 1D Resistance after a non-stop 15 day bullish sequence that nearly made 1D overbought (RSI = 72.486, STOCH = 79.880, MACD = 1.560, ADX = 60.274). If we convincingly break above that level then 1D will print the Golden Cross formation (MA50 over MA200). The same pattern was last seen in 2017 and resulted in a...
SHCOMP is currently pulling back off a Double Top formation near July's 3,050 Resistance. The key development here is the potential to have a Golden Cross formation on 4H. Last time this pattern emerged was in mid February 2019, when again the price was pulling back after a Double Top. The result was an aggressive jump of +20%. Medium term investors can wait for...
The pair is currently pulling back after an annual high earlier this month with 1D already having turned neutral (RSI = 52.349, MACD = 0.019, Highs/Lows = -0.0174). This appears though to be only a technical Higher High retrace after what has been a very strong bullish sequence since mid April. We have spotted the very same pattern in 2014/2015 when USDCNY made...
The pair has been rising aggressively (1D RSI = 64.189) since early August and the Double Bottom formation on the 8.0000 1M Support. It is approaching the 1W Resistance (8.5000) but the 1D MA200 (orange line) is already applying selling pressure, similarly to what it did on September 2017 after the last rebound on the 1M SUpport. With 1W still neutral (RSI =...
NZDDKK is currently consolidating on the 1W frame being near the top of the 1M Support Zone, hence the neutral technical action (RSI = 42.912, MACD = -0.030, Highs/Lows = -0.0155). The 1W Resistance is at 4.5000 and this is the level we are targeting following this month's strong bounce on the top (4.2600) of the 1M Support Zone. Ideally the 1W MA200 (orange...
XPTUSD has been on a very strong rise in late August almost hitting the 1,020 - 1,045 1M Resistance Zone. Despite trading on bullish 1W technical values (RSI = 64.131, MACD = 26.660, Highs/Lows = 45.6178), the volatility itself is high enough (ATR = 41.0321) to justify a pull back to the 1D Support (890). This is where we expect Platinum to seek buyers as long as...
MNST is currently within its cyclical consolidation phase (1W RSI = 47.866, 1M RSI = 51.690, ADX = 21.720, Highs/Lows = 0.0000) following the price peak in 2018. This phase has lasted around 780 days in the past and was always followed by a strong rise to a new peak. With the 1W MA200 supporting we have entered the last phase of this consolidation and if the...
The 10 year has rebounded off the major 1M Support this month, making a statement with last week's strong 1W candle. This marked a Triple Top formation on the 1M scale (since 2012) and the trend shift becomes obvious. 1D is trading near overbought territory (RSI = 70.811) pushing the 1W towards neutrality (RSI = 42.781, ADX = 58.406, Highs/Lows = 0.0000),...
ETHUSD has hit a major trend-line set by the last Lower Low before the Bottom of the 2018 Bear Cycle. This cellular level has proved to be a major trend-shift mechanism through-out 2019 and the start of the new Bull Cycle. More specifically is has turned into a Resistance twice early in 2019 before the major April bullish break out. The Lower Lows of the 2018...
XRPBTC has been consolidating for the past 30 days (1D RSI = 47.639, MACD = 0.000) having previously failed in July to cross the 0.00004030 Resistance, which was previously the 1W Support. The same price behavior has been spotted during the previous cycle. The candle action is identical and as such we have concluded that we are approaching the major Bullish...
The pair has made contact this week with the 1M Support at 1.44400, which has been holding since July 2017. 1D has turned neutral again (RSI = 52.238, STOCH = 47.643, Highs/Lows = 0.0025) for the first time since mid August and 1W is following (RSI = 42.682, Highs/Lows = 0.0000). The Resistance Levels on 1W and long targets are 1.50000 and 1.52000. Note also that...
The pair is trading on a long term 1M Channel Down (RSI = 39.819, MACD = -0.015, Highs/Lows = -0.0059) since December 2018. August marked its latest Lower Low and the price is posting a strong rise on September towards a new Lower High. This is expected to be priced once it tests the 1D MA200 (yellow line). It already crossed the 1D MA50 so we are expecting the...
EURUSD made a Double Bottom at 1.09270 on the 1D chart following the ECB Rate Decision and mostly President Draghi's remarks on future easing. Technically the pair is still within the 1D July/ August Channel Down though close to the Lower High region (hence the neutral RSI = 48.658, MACD = -0.003, Highs/Lows = 0.0000 figures). The focus of our study is to see...