A monthly chart of US Oil that shows support and resistance levels. Oil broke out forming a new high, then fell from the monthly resistance above. It pulled back to the 38% level, which is the same area of support in consideration.
A weekly chart informed from a monthly chart's support and resistance. As you can see from here, the CRB index fell from the monthly resistance above after forming a new high breaking resistance (also a yearly autp pivot point). It pulled back to the 38% level, which is also a weekly support level.
Prior Resistance Becomes Future Support Weekly:
Intel: Fundamental: (1) Growth exceeds my expectations (2) Company is financial sound and has highly consistent earnings (3) Company is sitting in cash (4) CEO Brain was kicked out the company in June 2018 because he broke company policy. He was a key figure of the company. Now, the interim CEO is Robert Swam. I believe this will help Intel think hard and...
Intel: Fundamental: (1) Growth exceeds my expectations (2) Company is financial sound and has highly consistent earnings (3) Company is sitting in cash (4) CEO Brain was kicked out the company in June 2018 because he broke company policy. He was a key figure of the company. Now, the interim CEO is Robert Swam. I believe this will help Intel think hard and...
Reasons to buy the monthly support: (1) The price is resting on the support, which is the peak of the financial crisis level from 2007. (2) Earnings are still good (3) RSI at extremes (4) Stoch oversold (5) MACD still bullish (6) Ciovacco is positive about it.
Technicals: -Oversold: looking for a minor correction back into resistance -Candle pattern: the Kicker - Other: Price at support - Other Indic: MACD strength is bullish Risk: 1%
EURCHF is over extended and overbought on stoch, MACD, RSI and other indicators. It is at resistance levels also. It has practically doubled the previous leg, and looks like a point where buyers will temporarily flee!
Overbought Near resistance Looking forward to a continuation of the previous leg down.
see video see notes: Prepare to short USDJPY -0.02% or short right now in advance.
Prepare to short USDJPY or short right now in advance. Its been months since I have been bearish the dollar versus the Yen because of its fundamental value. Economics can take a long time to kick in and it is almost humanly unbearable. I maintain a bearish outlook on USDJPY. Trade wars have distorted the price action; however, a break below 110.25 will bring...
GBPCHF: Prep long @1.3200ish. Targets on chsrt Fundamental: GBP (UK) and CHF(the Swiss) are slowly into a favorable contrast. Expectations in the UK by August are positive. I also took a long in GBPUSD. SNB's negative rate policy and intervention may prove to aid this exchange rate. I am not as confident, but have a buy stop around 1.3200. Technical: The...
The Trade Wars have distorted the picture of the dollar, but it will not last long. The maximum, economically, this will last will be from now up to 6 months.