Palladium had a nice run between 2018 and 2020 with a rise of 245% during this period before the Covid-19 pandemic hit price. From that point, price created an all-time high at the time of £2875, then there was a sharp decline to near the $1500 round number. The round number and the 50 simple moving average cushioned the fall and gave price enough support to...
Friday’s candle confirmed a continuation of the uptrend with a break and close above the previous high. Record highs are consistently being made in the S&P 500, and we could go on to see a trend lasting the rest of the year. The current trend is using the 20 and 50 simple moving averages as support. The most recent pullback came down and bounced off the 20 simple...
The S&P 500 continues to trend well and has been making use of the 20 and 50 simple moving averages as support. On April 1st 2021, price finally broke above $4000 which was anticipated to be a potential strong level of resistance. Price broke through with ease, forming a linear move to the upside. A pullback is due as price has seen a nice move upwards, so some...
Palladium should not be ignored even if there are strong moves happening in other markets because this commodity has the potential to trend well long-term. The trend between January 2016 and February 2020 saw a 542% move to the upside allowing for the accumulation of simple profits during that period. As expected, price went into consolidation following such a...
Although Bitcoin is also creating new all-time highs, Ethereum is showing more momentum over the last few days. From December 2020 to February 2021, Ethereum moved up over 300% before going into a period of consolidation from February 2021 to earlier this month. The resistance for the consolidation zone was around the $2000 round number. Following a breakout to...
The journey to $4000 was a fairly smooth one from the start of this year and the S&P is now trading comfortably above this level. $4000 has now switched from resistance to support. We have seen a nice clean move to the upside over recent days, so we can expect to see a pullback before a continuation. Price has the 20 simple moving average which coincides with...
The bull run has been consistent in Bitcoin, and price has formed some neat pullbacks along the way up using both the 20 & 50 simple moving averages as support. The most recent pullback came down to tag the 50 simple moving average before heading back to the upside. On the way up, price has started to slow down and may be starting to consolidate. The support and...
The S&P 500 is now comfortably sailing above $4000, which we anticipated to potentially act as strong resistance. With price now above this level, we need to see what price will do next. Will price continue to trend upwards, or will price come down and find support at $4000 then move back up, or will price move back below this psychological round number? One...
The FTSE 100 has failed to break and close above the February 2018 low at 6536 for a number of months now. You can see the December 2020 candle and the candles for January and February 2021 traded above this level but ended the month by closing below this level. With one more trading day of the month left to go, we may well finally see that close above 6536 and...
Price broke above the February 16th high at $3950 on March 15th, almost a month later, but then pulled back to the 20 & 50 simple moving averages. The moving averages held strong as support and helped to push price up through $3950, once again making its second attempt at reaching the $4000 round number. Right now, price is between support and resistance and...
Palladium failed to hit the $3000 mark during the bull run that ended in early 2020. Price created an all-time high at $2875, which occurred just before the peak of the global pandemic and was followed by a decline. The 50 simple moving average on the weekly timeframe was there to cushion the sharp fall and has been acting as a ladder ever since, slowly helping...
In July 2020, price was making good progress in Silver after moving above a previous high at $21 to go on to reach a high of $29 the following month. Ever since that high was made, price has been in consolidation and has been struggling to move above the $30 round number. Price has been in consolidation for seven months now and holding in between $21 & $29. On...
This week the price of oil hit a strong level of resistance and failed to continue trending and has since reversed and is currently forming a pullback. The resistance level price hit is based on the April 2019 high at $66.58 and has held strong ever since. The last time price traded above this level was in October of 2018. As price is pulling back, we need to...
The S&P 500 broke above the previous all-time high at $3950 this week but has since declined back down below this level. This is proving to be a strong level of resistance, and if you couple this with the $4000 round number above, then we have a strong hurdle which price may have difficulty breaking through. The overall trend remains bullish, and the 20 & 50...
Oil has come a long way from the 100% decline we witnessed in 2020 where price came close to hitting the $0.00 mark. We have seen price climb above $65 since that time and continues to look strong on the daily timeframe (not shown) where we see a pattern of higher highs and higher lows. Price is above the weekly 200 simple moving average and the daily 200 simple...
The S&P is showing good progress so far today and if price remains the way it is or moves higher then this will confirm a continuation of the trend. February and the first few days of March proved to be a difficult time for investors as many stocks went on a decline but this was short-lived as price found support levels to bounce off. The Dow Jones led the way...
Gold was making good progress in July and August 2020 after breaking above what was then the all-time high at $1920. It was after hitting the $2000 major round number that we saw a change in the behaviour of price. By September 2020, price not only moved back below $2000 but also back inside the consolidation zone. Despite this, there was support below price from...
The S&P 500 is still in a long-term uptrend which has been in play since March 2009 and currently approaching a major resistance level in the form of the $4000 round number. The momentum has started to slow down slightly as we are seeing a mini consolidation in play. Just below price we have the 50 simple moving average and price has been hovering around...