InvestingScope

InvestingScope

The pair turned bearish on 1D (MACD = -0.006, Highs/Lows = -0.0124), oversold even on RSI = 29.795, as the 1.2960/80 Support broke. On a 1W basis this is the bearish leg of the second Low within an Inverse Head and Shoulders pattern (RSI = 45.117, MACD = 0.0000, Highs/Lows = -0.0069), which keeps the long term outlook fairly neutral. This means that a rebound...

InvestingScope

Since last November, Bitcoin's RSI bottomed near 9.000 and has been making Higher Highs and Higher Lows since, developing a Channel Up. The peak of this Channel is so far near 90.000, which was achieved on the aggressive rise earlier in April. A similar RSI pattern was printed in 2016. The bottom was made near 20.000 this time, with Higher Highs and Higher Lows...

InvestingScope

The price has again approached the 1.1175 - 1.1185 Support Zone on 1D, which is a Channel Down (RSI = 41.503, MACD = -0.002, Highs/Lows = -0.0025). Since however this Support Zone has rejected any bearish break out twice already since March 7th (on a 1W time frame 1.1215 has been supporting since November 12th), we will consider shorting any further only if this...

InvestingScope

Oil has completed 7 straight bullish weeks, a feat that was last seen in March 2016. On the long term the probability of extending this bullish sequence is higher but not without a pull back. But until we get confirmation of such pull back it is best to focus on the short term and the clear 4H Channel Up (RSI = 74.660, MACD = 0.500, Highs/Lows = 1.2107). Since...

InvestingScope

The pair is trading on a nearly year long bearish Head and Shoulders pattern on 1W, ranging (RSI = 51.063, STOCH = 51.102, MACD = -0.011) since last November within the neckline of the right Shoulder. The Highs and Lows within the neckline show that there is still upside potential before another bearish leg towards 1.63000. Medium term swing trades may find it...

InvestingScope

With SPX approaching its All Time Highs (ATH), having risen non-stop on the 1M chart since the December low, we try to answer this question: How SPX behaves near its All Time Highs? In this attempt, we thought it would be useful to back-test two long term periods, which share remarkable similarities: the 1966 - 1990 period with the 1998 - 2019...

InvestingScope

DAX is on a very strong bull run since its December bottom, maintaining the trend on a 1D Channel Up that was recently broken to the upside (RSI = 71.535, MACD = 158.900, Highs/Lows = 203.0988). The index now enters into the overbought zone and the Inverse Head and Shoulders pattern on 1W suggests that it will approach the 12,460 neckline before any meaningful...

InvestingScope

The pair just broke the 0.75480 - 0.75570 4H Resistance Zone, which is a technical confirmation of a bullish extension. The obvious target is the 0.76200 1D Resistance. Since 4H is trading within a Channel Up (RSI = 68.638, MACD = 0.001, Highs/Lows = 0.0031), if the Higher High doesn't break, we may pull back towards 0.75300 before testing 0.76200. ** If you...

InvestingScope

This pair is trading on a long term 1W Channel Down (RSI = 45.188, MACD = -0.052, Highs/Lows = 0.0000) with clear Lower High entries and an obvious 8.7850 Support. The price has just entered the neutral territory so there is still potential to rise a little further before resuming the underlying bearish trend. We estimate the reversal point to be just above the...

InvestingScope

Gold is again testing the 1,276.50 - 1,281 1D Support Zone, the fourth attempt since January 21st. 1W is now neutral (RSI = 51.224, ADX = 43.282, MACD = 9.820) prompting to a rebound. We can't yet know the exact long term trend on Gold as although the 1,360 - 1,370 1W Resistance hasn't been crossed yet, the bullish trend is intact and for now well supported. We...

InvestingScope

This is a pattern that is being repeated over and over again though the decades. Coffee reaches a peak within 280 - 340 on a parabolic rise, then starts to decline less aggressively on Lower Highs, and bottoms within 42.00 - 50.45. That's Coffee's market cycle and since 1974 we've had three, currently being near the end of the third, as we are just before the...

InvestingScope

The KBE ETF, which tracks an equal-weighted index of U.S. banking stocks, has been rising on a very steady 1M Channel Up since the 2008 financial crisis and has recently rebounded on the latest Higher Low (RSI = 50.776, MACD = 0.640, Highs/Lows = 0.0000). This presents a good buy opportunity on banking stocks, which are expected to outperform the market in the...

InvestingScope

The pair has been trading on a 1D Inverse Head and Shoulders pattern (RSI = 61.316, MACD = 0.160, Highs/Lows = 0.4329). The price is now approaching the 112.140 Resistance which is a sell opportunity for us. The pressure points are clearly seen on the chart. TP = 110.800 with 110.325 as a possible extension. ** If you like our free content follow our profile...

InvestingScope

Heating Oil has been trading on a very steady 4H Channel Up (RSI = 62.494, MACD = 0.014, Highs/Lows = 0.0000) and is currently on its Higher Low. Our long TP is 2.1000, as long as the Channel is holding. The previous bullish run of February 11 - 19, shows that around +8%, the price breaks the uptrend and pulls back on a lengthy descending channel. If the current...

InvestingScope

The pair has been trading sideways in 2019 within the 1.36140 Resistance and 1.34450 Support. With 1D neutral (RSI = 51.626, Williams = -49.207, CCI = -45.7804, Highs/Lows = 0.0000), the price is expected to continue consolidating on the medium term within those levels. We are using 1.35750 - 1.36140 as a Sell Zone and 1.34450 - 1.34900 as a Buy Zone. ** If...

InvestingScope

Silver is consolidating on 1D (RSI = 45.850, Williams = -48.527, CCI = 32.7856, Highs/Lows = 0.000) after finding support at 14.890. The very same pattern has been spotted another 2 times in 2017 and 2018 leading us to assume that the behavior is cyclical. This suggests that the current consolidation has at least 1 more Lower High to give before breaking either...

InvestingScope

Nifty has just been rejected on the 11,760 1M Resistance after a relentless bullish run since mid February. It appears that since March 2018 the index follows an identical repetitive pattern, within the 11,760 1M Resistance and the 9,960 1M Support. Every time the index has rebounded on the 9,960 1M Support, a 1D Channel Up follows, which practically gives way to...

InvestingScope

Following its most recent bull leg on 1D, the Dollar Index was again rejected near the 97.70 1W Resistance, causing the 4H Channel Up to break downwards (RSI = 40.558, MACD = -0.060, Highs/Lows = -0.0793, B/BP = -0.1870). This rejection technically calls for a re-testing of the 95.80 1D Support. However the 1W Channel Up (RSI = 54.944, MACD = 0.450, Highs/Lows =...