USOIL is capped out against the horizontal resistance. Volume is dropping.
DXY is working inside a range; with a continued downward movement. I'm somewhat surprised with the lack of movement given the certain economic constraint that is currently happening.
SPX rising wedge has broken down. Maybe there is some sanity in this market afterall.
FAANG stocks continue their climb; sitting in the bottom of a rising channel.
TOTAL Mcap has settled after yesterdays impulsive movement. Price has resettled to the middle of the channel; with RSI coming back down as well. Good upside.
USOIL breaks through the falling resistance, and reaches the localised horizontal resistance.
DXY continues its pullback; although there is local support here.
SPX rejects down from centre of wedge/618 fib line and RSI remains topping out in the mid 60's. Yesterdays initial GDP numbers seem to have had 0 impact in this market; because who cares about a recession anymore, I guess.
RSI is going into overbought zonee; and volume on the lower time frames is dropping away.
Buy adjusting for the inter-fluctuation of $USD; we can see the true underlying movement that is associated purely with $AUD. In this case, we see that the price is moving in a rising wedge; which suggests that the next impulsive move could be downwards.
ETHUSD is positioned strongly to recover the fastest from the recent pullback; although it does appear there is room for some more downside risk still at play (~17% to the lower end of the MA supports). Price is currently ranging between $210 – 240; with a rising RSI – a traditional indicator that a continuation move may be setting up (commonly known as a bull...
BTCUSD is trapped between the 0382 and 0618 retracement levels on the 2H timeframe; the 1D is a striking rejection off the 13W MA (and showing an evening candle doji) – and margin long positions have reduced by a third. While the volume expanded on the daily; weekly volume is still average – at best – and when we dive down into the lower timeframes; the spikes...
LTCUSD is seeing a significant expansion in margin longs on the Bitfinex platform; reaching 10x the average daily volume on there. The 13W MA is tracking downward and is currently suppressing price. There is, however, a rising trend support on the weekly which could help drive a bullish breakout PRICE ACTION The price action on the weekly has been...
BITSTAMP:ETHUSD Price and RSI are in sync in rising channels, with current price target @ $160 ± 10.0%. Price action could be showing a breakout of the declining channel; though it is too early to make that call. PRICE ACTION Price actions is coming off a parabolic downward movement. We are targeting the 0.8 retrace on the long play. Next conservative...
BTCUSD is showing signs of weakness as it has recently rejected off the descending trend line. While price does remain inside a rising channel; we can currently see RSI has broken below it’s trend line. Volume is very low though; so this rejection strikes more to be a limitation of demand rather than a sustained push by market bears. In fact, a rather lot of...
LTCUSD Price and RSI are in sync in rising channels, with current price target @ $48.5 ± 6.2%. With RSI coming off the base of its trend – long entries are probably not there until the next downturn. PRICE ACTION Price actions is coming off a parabolic downward movement. We are targeting the 0.8 retrace on the long play. Next conservative entry is...
PRICE ACTION Open margin contracts on the long side are completely blown out on this chart; with over 1 week of average daily volume currently tied up in margin longs on Bitfinex. In the event of a rejection or broader market correction – this presents plenty of meat for bears to feast on. So, what are the odds of a correction? Starting with the weekly chart;...