KQMarkets

KQMarkets

Our Bitcoin analysis on the 02.04 we highlighted that the market broke-out of it's ascending triangle pattern towards the next resistance level at around $5200. We can now see that prices have consolidated around $5200 which is now acting as a support level and the market has accomplished a golden cross with the 50 day MA crossing the 200 day MA. The golden cross...

KQMarkets

On our analysis on the 07.04.19 indicated a triple moving average crossover buy signal and Fibonnaci resistance at $63.73. WTI crude oil consolidated around this level until today as the US decided it won’t renew exemptions from its sanctions to buyers of Iranian crude after they expire on May 2. This has resulted in oil jumping approximately 2% from $64 to $65.33...

KQMarkets

We currently see the Dax in an uptrend as it broke out of the inverse had and shoulders pattern and continued it's upward momentum supported by a spike in volume. However we see the index as overbought with the RSI at 73.6 so we still have a short position and would expect the Dax to start falling in the coming weeks.

KQMarkets

The 50 day moving average dropped through the longer-term 200 day moving average indicating a sell alert after which the 100 day moving average crossed the 200 day moving average confirming a sell signal. EURUSD fell below the double top support level just below 1.128 confirming a double top which we see as an extremely bearish reversal pattern and therefore...

KQMarkets

We see that Microsoft had formed a bullish flag due to profit taking resulting in lower prices as traders sell the stock. However prices broke out of the bullish flag as prices bounced off the long term downtrend line from the beginning of Oct 18. Therefore we expect Microsoft to continue it's uptrend so we remain long the stock and await the earnings...

KQMarkets

We see a continuation of the S&P 500 bearish rising wedge pattern highlighted on our analysis on the 15.04. The RSI of the index has fallen from 69.3 to 68.9 and trading volumes are slightly decreasing indicating that upward momentum could be slowing. We will wait to see if prices fall below the lower bearish rising wedge trend line under $2860 before confirming...

KQMarkets

Our analysis on 10.04.19 highlighted a descending triangle with the support level at $1280 needing to be broken to confirm the downtrend. Prices have fallen below the lower descending triangle support trendline suggesting the downward momentum is building and a breakdown is imminent. This would result in an extension of the depreciating move towards the long term...

KQMarkets

We currently see the S&P 500 in an uptrend as the index gaped higher Friday above the key resistance level at $2900 on the back of strong Q1 earnings from JP Morgan, Wells Fargo and PNC. This is confirmed by the 20 day moving average of $2836 having risen through the longer-term 100 day moving average of $2698 indicating a buy alert. Also, the 50 day moving...

KQMarkets

We see a descending triangle continuing the Silver downtrend as sellers are willing to go lower whilst buyers stay at the same level. The Ichimoku cloud has bearish signals as prices are falling below the cloud and the cloud is red. Additionally the blue line Tenkan-Sen (Conversion Line) has crossed below the yellow line Kijun (Base line) signalling that momentum...

KQMarkets

We see a descending triangle continuing the Gold downtrend as sellers are willing to go lower whilst buyers stay at the same level. The Ichimoku cloud has bearish signals as prices are falling below the cloud and the cloud is red. Additionally the blue line Tenkan-Sen (Conversion Line) has crossed below the yellow line Kijun (Base line) signalling that momentum...

KQMarkets

Recent price moves above the upper band shows price strength and that an uptrend is in play on the Dax. However, we see Fibonnaci resistance at 12,143 and expect strong resistance at this level, and in the near term prices to drop to follow the long term downtrend in the index. The ECB meeting tomorrow should increase volatility in particular if there is much...

KQMarkets

The FTSE 100 is in a "bullish price channel" as it has a positive slope with the upper trend line marking resistance and lower trend line marking support. We are long the FTSE 100 and the dividend yield for 2019 should be close to 5% which provides positive income for holding the position even through a leveraged product that incurs financing charges (ie: a CFD...

KQMarkets

WTI crude oil is clearly in an uptrend having risen approximately 30 per cent since the beginning of the year due to increased global demand for oil in particular from emerging markets. Additionally successful OPEC production cuts and tighter oil supply due to US sanctions on Venezuela and Iran have tightened supply bolstering oil prices. The 20 day moving average...

KQMarkets

We are short AUDUSD and see a bearish engulfing pattern identified by the candlesticks with black arrows, however there could be a potential counter attack if the resistance level of 0.713 is breached. However we expect the downtrend to continue despite better than forecast Australian retail sales (0.8% actual vs 0.3% expected). This is because the RBA don't...

KQMarkets

Our Bitcoin analysis on the 02.04 identified key resistance levels at $4400, $4800 and $5200. There was a bullish continuation whilst the market was trading in an uptrend as a breakout above the resistance level of $4800 saw a counter movement below $4800 before the market continued towards the next resistance level at $5200. The level of $4800 could now...

KQMarkets

We see an ascending triangle continuing the Bitcoin uptrend as buyers are prepared to pay higher prices whilst sellers stay at the same level. There was a breakout over the long-term resistance level around $4400 for Bitcoin that was capping price action. Volume has increased on the rally following the breakout which could see Bitcoin move towards the next major...

KQMarkets

Long-Term we are long the S&P 500 but in the near-term we see a head and shoulders pattern potentially forming with the index dropping towards 2,600 at which stage we will add to our long position. Therefore, in the short term we cannot see the S&P 500 rising much above the year-to-date high of 2,860.31 reached on the 21.03, on the back of a dovish FED with Powell...

KQMarkets

We see a descending triangle as EURUSD continues its downtrend with sellers willing to go lower whilst buyers stay at the same level. If EURUSD rises, we will keep selling as we expect continued downward pressure on the EUR due to the uncertainty surrounding Brexit and the recent poor Eurozone economic data. Additionally, EURUSD provides positive financing, for...