KimChong

KimChong

EUR tends to bottom with rounding pattern. Is another forming?

KimChong

NFP will make or break this. Volume falling.

KimChong

keep an eye on this

KimChong

Been watching this for a number of weeks. If the flash crash candle is ignored, there is potentially a diamond reversal pattern forming. Its not the most reliable pattern and difficult to trade. But when it does work, the upswing tends to be aggressive. With all the poor Aussie fundamental backdrop and rates differential v US, it had held 70 for more 6 months....

KimChong

Failure rate of diamond reversal is high although moving averages and other technicals do suggest the more likely move is to the upside. Whilst the failure is common when it does hold the swing to the upside is generally very strong.

KimChong

reading it together with RSI and slow stoch, there is a good chance crude has hit an important bottom

KimChong

Watch weekly slow stochastic which crossed this week

KimChong

Long term bottom maybe in place. Monthly divergence appeared 3 times 32 years - 1986, 1993, 1998. Each formed the base of a multi month run up. 2015 is fourth time.

KimChong

Crude maintains upward pressure as weekly MACD crossed Inverted H&S forming. Break out of downward broadening wedge nears. Bears trapped yesterday Stay long - min target 65

KimChong

Crude goes up when weekly MACD cross

KimChong

Bounced last week. Next 2 weeks critical to continuation. Must close above 50 next week. Seasonality favors long as we head into Feb.

KimChong

Price action next week will confirm

KimChong

Buy dips. Megaphone to break up.

KimChong

wedge top