The main trend is down according to the daily swing chart. However, the closing price reversal bottom on October 3 has signaled a shift in short-term momentum.
A trade through 1.1695 will negate the closing price reversal bottom and signal a resumption of the downtrend. A move through 1.1832 will change the main trend to up.
The major support is the retracement...
The technical condition of AAPL is improving as several of the pertinent indicators have turned positive and the stock appears to be under Accumulation. A close above $153.37 is a number to watch to confirm a trend reversal.
It would be a surprise if the Fed comes across as hawkish and a dovish Fed has already been priced into the market so we could have a “buy the rumor, sell the fact” situation on our hands today. This means we could actually see a weaker $EURUSD if the Fed delivers a benign policy message.
The main trend is up according to the daily swing chart. If the upside momentum continues then the next target is the August 24, 2015 top at 1.1712. On the downside, the nearest support is the May 3, 2016 top at 1.1616. This is because old top tend to become new bottoms.
The EUR/USD is also up 12 days from its last main bottom so it is...
a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
The WTI Crude Oil market rallied during the session on Tuesday, reaching towards the $44.40 level. Oil rallied significantly in general, but I still think that the Crude Oil Inventories announcement coming out during the day today will significantly move the market. I think that the $45 level above is massively resistance, so given enough time I think that the...
The main trend is down according to the daily swing chart. The market is in no position to turn to up, but there is room to rally.
A trade through $45.29 will signal a resumption of the downtrend. This could lead to a test of the main bottom at $44.13.
The main range is $44.13 to $52.00. Its retracement zone at $47.14 to $48.07 is the nearest resistance.