Since May 2019, KLX Energy Services Holdings Inc (KLXE) has suffered a relentless decline, which saw prices fall to $2.55 by early April of this year. Throughout 2020 prices have ebbed and flowed reaching $17.49 on the 9th of June, which marked the top for this year so far. Since then prices have tumbled back to the $3 handle, creating a nice multi-month bottoming...
The USD/JPY currency chart is displaying a nicely formed bull flag perfectly located at the top of a multi-hour trend on the one-hour time frame. 23.6 fib and flag support line at (1) need to hold in order to keep the flag intact. However further weakness below (1) will negate this bull flag set-up for further upside and should be construed as a sell signal for...
Over the past decade, emerging markets such as the IBovespa (IBOV) have underperformed the U.S. considerably. Recently however economic surprises in emerging economies have begun to show signs of recovery, which historically led to better than expected gains, in accordance with analysts forecasts. During times such as these, compared to the U.S. when Emerging...
The EUR/CAD currency pair seems to be giving out bullish signals across the board, in particular on the 4hr time frame. Ascending trendline support and 23.6 fib level at (1) taken from the recent July ‘20 highs and the September lows provided a good buying opportunity for the short to mid-term. Further confirmation came about as the pair cleared the 200 period...
According to last weeks commitment of traders (COT) report which covers positions held amongst three groups of traders (Commercial hedgers more commonly known as the Smart Money hedgers, Non-commercials and Non-reportables) through Tuesday the 29th September showed the Smart Money is still aggressively shorting Soybeans along with agriculture commodities in...
According to last weeks Commitment of Traders report (COT) which breaks down the total open interest as of each Tuesday’s settlement for markets held amongst three groups of traders (Commercials, Non-Commercials and Non-Reportables) showed that Commercial Hedgers more commonly known as Smart Money Hedgers are holding near extreme bearish exposure on Coffee which...
Earlier this month the EUR/GBP currency pair put in a strong performance after bottoming out at 8865.9 which occurred on the 3rd of September ‘20 and then proceeded to take out key mid-term resistance levels without so much as pausing for a breather. Small currency speculators got caught out a few weeks back on the 11th of September as they boarded the strong...
During this morning’s European session the AUD/NZD currency pair tries to maintain this weeks rally as it approaches overhead horizontal resistance (1) whilst firmly inside a mid-term down trending channel which began on the 18th of August this year. Selling pressure could ensue at these current levels, and if so will most likely drive prices lower throughout this...
NZD/USD currency pair approaches inflection zone at (1) A bout of heavy selling pressure last week saw the NZD/USD currency pair give up it’s September gains and is now flirting with the August lows. From a technical standpoint, the currency pair is inches away from testing a likely inflection zone (1) and triple support level which comes in at 6432.8 located at...
Nice bullish set-up here on the EUR/NZD currency pair. Our buy signal triggered at (1) as the currency pair surpassed the 10th of September highs (17834.5) completing the first phase of the double bottom pattern which is currently forming inside a multi-month bullish ascending triangle pattern. Shallow pullbacks from here are to be expected on the lower time...
Microsoft Corp (MSFT) broke nicely out of its falling wedge pattern yesterday at (1) after a healthy pullback which started at the beginning of this month. Earnings have grown 27.5% per year over the past 5 years and are forecast to grow 10.81% per year over the next 3 years. MSFT has experienced significant insider selling over the past 3 months totalling 171,025...
A nice bullish set-up could well be on offer here on QQQ. Here’s why: From a fundamental standpoint, smart money hedgers are aggressively buying Nasdaq investment vehicles across the board. They are holding multi-year extreme bullish exposure on the Nasdaq 100 (11177.00 contracts), Nasdaq 100 Mini (55882.00 contracts) and Nasdaq Combo (25.57 contracts). It’s...
The Germany 30 (DAX) Index began losing momentum early this month on the 10th as it failed to recapture the 3rd of September highs (13461.8). Widely used indicators remained more or less neutral during last week, with a slight bearish slant to them towards the close. During this morning’s European session the DAX has broken through its 50 period Daily moving...
Throughout August and September, trading the EUR/USD currency pair has been somewhat frustrating for traders, with choppy price action and no clear direction. However, a bullish swing set-up could well be presenting itself, around these levels. Towards the end of July, the pair convincingly breached the multi-year trendline resistance, which has managed to cap...
Since the pandemic March lows, the AUD/GBP currency pair has created a nice V-shape recovery and is now testing the weekly 200-period simple moving average, which was last tested on July 20th of this year. What followed after was a relatively healthy pullback into August where the pair ranged throughout. September has proven more positive boasting a 1.09% gain at...
The GBP/USD currency pair suffered a sharp sell-off from the 1st of September ‘20, after topping out at 13482.6. The pair met with multi-month trendline support early on during this mornings session, which has managed to hold, causing the pair to bounce into short term resistance (38.2 Fib) at (1). The overall trajectory from the March lows is ascending. If the...
In relation to equal weight, Smart Money Hedgers are holding record Short exposure on the CRB commodity index. Historically, when Smart Money Hedgers have had this type of exposure (short contracts totalling more than 100,000) as it is now, the CRB index declined every time over the medium to long term. Keep an eye on the weekly bearish engulfing candle....