XAGUSD has made contact this week with its 1D Higher Low trend line (bold) where it has so far rebounded, as it made a Higher Low (1D Highs/Lows = 0.0000). With 1D holding marginally onto bullish levels (RSI = 56.268, MACD = 0.403, ADX = 44.272) it is likely to sustain this rise all the way to the 19.650 Resistance, as long as 17.780 holds. On a different occasion...
Oil has broken above the 1W Descending Triangle (RSI = 51.237, ADX = 25.508, Highs/Lows = 0.0000) yesterday. This development, coupled with the break-out above the 0.618 Fibonacci retracement level on 1D (RSI = 57.737, MACD = 0.270, Highs/Lows = 1.1179) indicate a strong potential for a long term trend shift to bullish. 61.00 is the next Resistance to test and it...
USDCAD is on the down-move again after the recent 1.3385 peak. Following the 1D Death Cross in July (RSI = 41.105, Highs/Lows = -0.0056, MACD = 0.0000) and the Lower Low after the 1M Channel Up broke to the downside, the long term outlook is bearish on this pair and sellers should attempt to fill the gaps. Those that stand out are the 1W Support (1.28000) and the...
The pair is trading on a long term 1M Channel Down (RSI = 37.681, MACD = -0.379, Highs/Lows = -0.5701) that has come close to the 11.460 1M Support where it rebounded last week. This can be an early signal for a trend reversal and buyers you have entered early can systematically aim at the gaps. First the 12.390 Lower High, which if broke should lead to the 1W...
Nasdaq has just crossed above the 1D MA50 on a very bullish technical outlook (RSI = 58.618, MACD = 2.240, Highs/Lows = 131.2143). The index is repeating the 2018 bull trend with the Highs and Lows price drops almost identical. As a result we have calculated the next High to be at 8,300 and this is our medium term target. Note that this comparison has been very...
Facebook has been trading within a long term 1W Channel Up (RSI = 53.674, MACD = 5.760, Highs/Lows = 0.0000) having only recently made its Higher Low. Technically there can be room for one more minor pull back near the previous Low as the current candle sequence resembles that of February 2019. If however the 1D MA50 breaks (blue line) the pull back bias are...
Bitcoin has been trading inside a 1W Descending Triangle (ADX = 45.132, CCI = 8.9271, Highs/Lows = 0.0000) that is currently neutral due to the price being close to the Lower High zone. This happens to be currently on the 4H Resistance Zone (11,000 - 11,100). We have a couple of bullish parameters to consider at the moment. We had an obvious 4H Double Top...
A lot of discussion is going around on whether or not Silver has enter a new long term Bull Cycle. We are not against this possibility. But we thought it is useful to analyze also the scenario where XAGUSD is only on its way to a Lower High before diving even more on the long term and continue its multi year Bear Cycle. On the three charts you see the current...
Gold is being aggressively sold this week with favorable news on the U.S. - China trade war negotiations acting as the catalyst. Technically it is a rejection on the 1,555 Double Top. The price action is identical with the June- July sequence, when Gold again looked for a final support on the 4H MA200 before starting the next strong rise (orange channel). At the...
The index is trading within a 1W Channel Up (RSI = 57.360, MACD = 38.130, Highs/Lows = 5.5037) since late February. Since the May Higher High, the pattern has been respecting the Higher High/ Higher Low marks providing clear buy/ sell signals. The price just broke above the 1D MA50 which has been the Resistance for a whole month (August) since the 2,780 Higher...
DXY has been trading within a long term 1M Channel Up (RSI = 58.550, MACD = 0.590, Highs/Lows = 0.6224) since May 2018. The pace has been very steady and the High - Low signals clear. The price mostly traded on the inner channel with the 1D MA50 and MA200 coming to support the next rise to a Higher High. We are currently pulling back from such a Higher High and...
The pair has been on a non-stop free fall since mid March within a 1W Channel Down (RSI = 32.282, MACD = -3.540, Highs/Lows = -2.2082). The decline took a pause in August a little over the 1M Support and only recently 1D made a Double Bottom (126.30) as seen on the chart. This has the potential to be a very early long term buy signal and we are taking this...
Oil has been trading on a 4H Descending Triangle (RSI = 32.603, MACD = -0.400, Highs/Lows = -1.0093) with symmetrical Lower Highs (red arrows) and a clear 53.00 - 52.90 Support Zone. Since mid August every Golden Cross formation marked an upcoming Top (Lower High) while every Death Cross marked an upcoming Bottom (4H Support test). The price just made contact...
DAX is trading inside a Channel Up pattern on 4H (RSI = 57.000, MACD = 49.100, Highs/Lows = 0.0000) which is an extension of the 1D Inverse Head and Shoulders (RSI = 53.511) formation that bottomed at 11,270 in mid August. The 11,990 Higher High is symmetrical on the Inv. H&S as was 11,850 before that. This indicates strong bias towards making another symmetrical...
Bitcoin has been trading inside a Descending Triangle on the 1W time frame. It is coming off a near 9,100 Support test and the price is currently testing the 1D MA50 on a strong green candle. Last time a similar pattern was detected was early in 2019 when Bitcoin was coming off its 2018 bear market bottom. The EMA50 applied again Resistance within the 1W...
The pair has been on a long term consolidation with a 2 year+ 1M Descending Triangle (RSI = 40.973, MACD = -1.280, Highs/Lows = -2.4468). This study compares the candle action on that pattern on the 1D chart with the same formation on the 1W chart from 1998 to 2007. It is essentially the same Descending Triangle with the MA50 periods behaving in the exact same...
The pair has been trading within a 1D Channel Down (RSI = 43.598, MACD = -0.004, Highs/Lows = 0.0000) since May that has been providing clear Sell (via Lower Highs) and Buy (via Lower Lows) opportunities. 4H is about to print a recurring bearish formation (Golden Cross into Death Cross) within the Channel Down pattern that has been a strong sell signal. We are...
The index is coming off a 1D Resistance (26,400) break out last week that practically broke the August consolidation range. The upside stopped on the median of the 1W Channel Up (RSI = 52.840, MACD = 209.700, Highs/Lows = 0.0000) just above the 4H MA200. The candle action is very similar to the previous High-Low pattern, where after a the Death Cross confirmed...