While technically we can go lower, I'm willing to guess the megaphone pattern is more likely. $UNG to $10 is still possible, but I'm ready to take a heavy bet on bottoming out now.
I think oil and natural gas are pretty stretched technically and even though there is a real shortage in certain goods out there, the market will eventually take down the commodity with it. It's tough that they will crash markets massively, so there's a flight to dollars to defeat the ruble going on with a fight on inflation , real or imagined. I don't think it...
I think oil and natural gas are pretty stretched technically and even though there is a real shortage in certain goods out there, the market will eventually take down the commodity with it. It's tough that they will crash markets massively, so there's a flight to dollars to defeat the ruble going on with a fight on inflation, real or imagined. I don't think it...
Like it says up top. Looks like a bull flag going into fed gate tomorrow. Tried to get the lines tight and low and behold, it could consolidate until J-Pow comes out to orate us with his infinite wisdom. ;)
So if you notice the rectangles earlier in the month, it was mostly rectangular boxed drops. Then it moved on to rectangular boxed drops and vicious rally's, circled in green. We've getting a little bull, bear tussle until the fed ultimately confirms to the market it's desired direction, but down we went the entire 1 month period. Should be interesting the watch...
The dollar is still considered a safe haven currency and is being pushed up by the war in Europe and a carry trade that the bank of japan has graciously decided to create for traders as they borrow in a falling yen then buy higher yield. The bank will defend 0.25% interest rate on 10 year government bonds so people keep borrowing and they keep printing. 400% debt...
If you look at my previous posted chart, and the dollar does a short term drop, and we're talking day or days here, then ETHE may come up and test it's 63 Week Exponential Moving Average from the bottom and catch a rejection at about the time the dollar resumes its rise. Might be a Friday only trade as I'd be nervous holding crypto in a trading account through the...
The Fed "Put" is at a much lower level than previously. What if the new put line in the sand is the old pre covid high? Might they step in before more technical damage is done at that point and reverse their hawkish course before risking a deflationary crash to levels that the economy might struggle to print back from? Could it be like the old Bon Jovi Song? If it...
I used an 80% retrace in 2022, though the 2000 retrace was worse as a percentage. The comp would fit with a deflationary crash if the Fed doesn't do an about face. I see the DXY moving up to 103.5 tonight and trying hard to break a long term resistance level to the upside. This is mostly a measure of other fiat currencies and heavily the Euro, so it makes sense...
