MirekTrading

MirekTrading

Citigroup breaking thru an important resistance level with a bullish Gap Up on good volume, in unison with the Financial Services Sector.

MirekTrading

Two year Cup and Handle formation coming to fruition. Breakout at neckline. A Retest of Support/Resistance line. Follow thru. Supported by increasing volume and momentum. Longer term Bullish position. Similar pattern with Nasdaq.

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Facing some resistance and breaking some supports. Symmetry in motion. Lower I think she goes.

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With the trend still in place, price trading above both the average and SR level and regaining positive momentum I think gold will make a run at the previous highs set back in August.

MirekTrading

Given everything that is going on, lets take that aside for a moment and look at the technicals. The market has moved from one extreme to another. We're now at an equilibrium point of sort. 50% retracement. To get here we had to break thru initial resistance back at around 2595. Price action and momentum now in the last 3 days showing signs of weakness. We did...

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Will Oil fill the Gap sooner or later? It's trading at plenty of resistance and price action bearish in the last few days. As traders await supply cut details there's many questions still looming. The fact is there is huge over supply and low demand and those dynamics paint bearish price action on a chart such as gaps down and probable follow thru gaps. With the...

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The bounce has happened and now we are at resistance all coming together trendline, horizontal, and shorterm 20 day ema. If resistance holds than a retest of lows is more probable! There are higher resistance levels of course above these levels if the market wants to push higher but first we have to see what happens here. I think technicals is all we have to go by...

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So, obviously S&P, like oil, is just smashing thru support levels whether they are horizontal lines or trendlines or moving averages. No discrimination going on here. I'm not going to talk about corona virus or black swan events because, like everything else, this too gets priced in to the market and shall pass. Technically we are in a Bear Market and a few things...

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If oil doesn't hold that 26 dollar level, which I don't think it will but, I've been wrong plenty of times so take it for what it's worth... I think oil could revisit levels from the 90's. The next support i see is around 17.50 and I think the momentum down has more room as well. Here is another bigger picture of oil, it's the only way I could express my idea.

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Here is a weekly chart of oil... a longer term perspective of sort. The levels identified here and the momentum swings over the course of 35 years or so, are maybe setting up a Decision Point in 2020. The levels to watch is the channel between 42 and 77 dollars as well as the multi year wedges forming in both price and momentum. Anticipating anther big move one...

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GBPUSD in consolidation mode and getting squeezed. Possible breakout brewing one way or the other. Using price as my indicator, currently neutral and if price is trading above 1.3100 will be long and if below 1.2975 I will be short.

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BTC seemed to have bottomed at the right spot at double support, rounded bottom happening with a golden cross and breaking thru resistance... With normal pull backs, I think 14000 is doable in due time.

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Each time the market moved big away from the trendline, it came down big. Just food for thought...

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After a year of consolidation GILD maybe on a verge of a breakout from a possible bottom with good volume. Price trading above averages and thru resistance and close to a golden cross happening. This still could be too early to call but on my watch list. GILD also has a good pipeline of products.

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S&P topping out in the short term. Some levels to pay attention to is the long term trendline going back to 2016 (Support becomes resistance becomes support again). Short term trendline going back to October of last year. If the market breaks these trendlines the next little bit of support around 3126 and 3017 and or the 200 day avg.

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After a nice multi year rounded bottom and breakout, gold has been showing strength. Holding current support at 1546. May want to retest 200 day avg and use that as support. Near upside target 1664. Stop loss below 200 day avg.

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Gold has taken off! Will it continue? It has broke out on good volume. Reverting back to to the averages again, if price holds support, my short term upside target is around 1630. If MACD turns around near zero it would help in propelling the price of gold to that next level. Look for confirmation of support and averages holding! Downside target would be around...

MirekTrading

Short term neutral, may want to revisit trendline. Long term bullish. Nice rounded bottom forming off of trendline. Upside back to 66