AMD is bearish on its 1D technical outlook (RSI = 39.240, MACD = -3.040, ADX = 37.221) as it got heavily rejected on the 1D MA50 last week. Nonetheless, it is close not only to completing the -28.56% decline, which is the maximum fall it has had since the October 13th 2022 bottom, but also near the S1 level (162.00), which is February's low. The chart shows that...
TFUEL has been consolidating under the 1W MA200 since the 1W candle of March 4th. This week and two weeks ago, it even crossed it but failed to close the candle over it, keeping the 1W timeframe overbought (RSI = 78.657) but 1D rather neutral (MACD = 0.005, ADX = 31.357). This means that the market is waiting for that 1W candle validation above the 1W MA200. We...
EURCHF is approaching the top of the multi year Channel Down pattern with 1D on bullish technicals (RSI = 66.643, MACD = 0.006, ADX = 55.830) but with a weekly chart almost overbought. The 1D RSI has already posted its first LL which suggest an underlying Bearish Divergence. We turn bearish on this pair targeting the 0.5 Fibonacci (TP = 0.9600) like the previous...
Amazon is bullish on its 1D timeframe (RSI = 67.557, MACD = 2.990, ADX = 31.700) as it is unfolding a very stable uptrend supported by the 1D MA50. This is the second bullish wave of the Channel Up, that is the dominant long term pattern. The 1D MACD suggests that we are entering the final phase of this wave that is aiming for a HH at +78.73% from the HL. We are...
EURJPY has turned bullish on the 4H timeframe (RSI = 65.893, MACD = 0.220, ADX = 54.338) as the 4H MA50 held and supported a new 2 day rally since Friday. The dominant pattern is a 3 month Channel Up, which makes a HH on the 1.5 Fibonacci extension. The 4H MACD is identical to the pre-High consolidation of the past bullish waves. We are bullish (TP =...
Bitcoin is overbought on all long term charts, even on the 1M (RSI = 76.950, MACD = 8398.200, ADX = 50.431). On the 2M chart is past a LMACD Bullish Cross that has been always formed during the past two Cycles before the parabolic rally of the Cycle. Historically the All Time High breaks shortly after the Bullish Cross. In 2020/21, the rally lasted for...
EURUSD is neutral on its 1D technical outlook (RSI = 49.712, MACD = -0.001, ADX = 26.518) and that's exactly how we can characterize its trend on the medium term. Even though both this week and the previous closed on flat 1W candles, the pair remains inside a Channel Down that has just formed a 1D Death Cross. For now that is bearish and that's what we remain,...
Ethereum crossed and closed two days ago under the 1D MA50 for the first time since February 5th. This suggests that more selling could be ahead of us but how low can the price go? We believe it will enter the green range between the 1.0 and 0.0 Fibonacci levels, which has been the Buy Zone of the two rallies of the Fibonacci Channel. It is very likely to come as...
The S&P500 remains bullish on its 1D technical outlook (RSI = 60.356, MACD = 47.470, ADX = 36.597) but today is having so far the strongest bearish 1D candle since December 15th 2022. Having hit the 0.786 Fibonacci level of the Channel Up at the start of the week, this can be a technical correction to at least the 1D MA100 if the 1D MA50 breaks. Consequently we...
JP Morgan may be almost overbought on its 1M technical outlook (RSI = 69.738, MACD = 14.790, ADX = 37.379) but as you can see on this chart, this is when the stock tends to make a bullish extension instead of a correction. Especially since the 12 year pattern is a Channel Up and is currently on its fourth Bullish Wave of the structure. All prior bullish sequences...
WTI Crude Oil appears to have completed a multi decade Bear Cycle that started during the 2008 subprime crisis. Such long term trends and patterns can only be viewed on monthly timeframes and for this analysis we have chosen the 3M. Technically Oil is only neutral on its 1M technical outlook (RSI = 54.985, MACD = 2.990, ADX = 14.499), which indicates its strong...
Nasdaq has turned neutral on its 1D technical outlook (RSI = 54.257, MACD = 119.240, ADX = 31.710) for the first time in 3 weeks, after a rejected on the R1 level (18445), which formed a Double Top. If it crosses under the 1D MA50 (which has been in support for 5 straight months), we will have a breakout sell signal and we will target the top of the S1 Zone (TP =...
Tesla is bearish on all long term timeframes 1D, 1W and 1M. The lowest RSI is on the 1W technical outlook (RSI = 37.118, MACD = -15.730, ADX = 32.394), which is the chart we focus today on. The stock has been inside a Channel Down since the July 2023 High, which was Lower High on the LH trendline that started on the ATH. We have spotted a striking resemblance of...
Johnson & Johnson gives a very clear idea of its trend on the 1M timeframe. The price may be under the 1D MA50 but has reached the bottom of the multi year Channel Up that started at the bottom of the 2008-2009 crisis. Being neutral on the 1M technical outlook (RSI = 45.714, MACD = -1.180, ADX = 20.525) has historically been one of the best buy opportunities, in...
DAX is almost overbought on the 1D timeframe (RSI = 69.159, MACD = 322.400, ADX = 30.730) and heavily on the 1W (RSI = 76.198), which suggests that the long term trend is massively bullish but on the short term a pull back below the 1D MA50 is needed in order to harmonize the supply and demand equilibrium. The index has already been rejected at the top of the HH...
NZDUSD has turned bearish on its 1D technical outlook (RSI = 42.582, MACD = -0.004, ADX = 53.918) as up until two days ago it was on the 2nd Bearish Wave of the 2024 Channel Down. This wave appears to have ended as the price hit and rebounded on the S1 level, posting so far two very strong green 1D candles. The pair may make one more Lower Low as on February 5th...
Gold is vastly overbought on its 1D technical outlook (RSI = 80.447, MACD = 42.840, ADX = 50.847) and the reason is that since last month's (March) breakout and monthly closing above the 2020 Resistance, it started a new bullish hyper Cycle. It is overbought on the 1W RSI also (74.802) while the monthly (1M) is only a fraction away too (RSI = 69.871). This is a...
Litecoin is about to turn overbought on its 1W technical outlook (RSI = 69.352, MACD = 5.439, ADX = 27.356) but that is far from a sell recommendation. This chart shows that the historic pattern since its start is a Channel Up which sees its greater returns and starts the cyclical rally when the 1W RSI turns overbought. All rallies have hit at least the 0.618...