Technical Analysis and Outlook The S&P500 index closed higher and by doing so, obsoleted the relatively weak Key Res 3016 . The higher-range closure sets the stage for a steady to higher advancement towards the Inner Index Rally 3040 , and ultimately to the Outer Index Rally 3125 (The sixth phase). Currently, there are no significant resistance levels: the...
So we are approaching the 31st of July, a day the US Federal Reserve is expected to cut rates. The market has already priced in a 25 basis point cut. In this post I want to discuss why the US Dollar will remain buoyed, and likely break out higher, even though the Fed cuts rates. Also why a stronger dollar exacerbates all the problems in the world. If you follow...
Okay! So as predicted it has been a pretty wild week however the market seems to have respected the uptrend support indicating that investors are still leaning to the conclusion that US interest rates will be cut. With a new week beginning my recommendation is to again REMAIN CAUTIOUS as more data will be released this week and we will likely see a break of either...
Mr Trump has strongly disapproved of Bitcoin. The markets couldn't care less. People are holding on to their Bitcoin in a zone of consolidation on the daily time frame. The consolidation pattern is safe down to around 9500. Bitcoin reached 10 times the recent high price of gold at one stage. I look at possibilities positive and negative for the future. For a...
Technical Analysis and Outlook It seems like we have a currency war. Euro Dollar sank after dovish Super Mario - Draghi comment and surged after dovish Fed chair Powell remarks. The short-term surge of the Euro Dollar trend sentiment remains semi-bullish and current rebound is producing push into Outer Currency Rally $1.1376 . The relatively weak Mean Res...
Despite ongoing concerns about oversupply and threats to demand, crude has some upward catalysts after a long bear run. Global contracts are up in the month of June, according to a report yesterday, and China's oil appetite is increasing. Also, Iran attacked a couple oil tankers and the US government appears determined to go to war in order to bolster the...
Good Morning, Over a week ago, I posted a long position on Gold @,1275, showing a nine month trend and decided to take the risk. Half positions were to be closed @1,300 which occurred on Friday, May 31st 2019. Here is an update on where to close the remaining positions. In this chart, the Fib. retracement of 78.60% and the wave movement of the flag pole both...
Its been over a year where the prices have ranged between 114 to 104.5, giving no clear indications. Might as well take advantage of this big range and check out the daily close below the fibo retracement of 50% @ 109.58 to give a clear path for the 61% @ 108.4. Prices currently @ 109.3, got to make a move , placing a stop @ 110. Good luck
Technical Analysis and Outlook The Bitcoin currently is in the steady to higher trend heading towards Inner Coin Rally $6590 and Outer Coin Rally $6760 - there are no resistance levels. On the downside, we have stable Mean Sup founded at $5690 , along with Key Sup at $4916 located significantly lower- primary uptrend rally setup.
Technical Analysis and Outlook The SPX index after completion of inner Index Rally 2840 is establishing minor Key Res 2833 , while meantime is very likely to decline to our initial Mean Sup 2814 . The significant additional support is found at Mean Sup 2744 , and Key Sup at 2706 . On the upside, there is an open path to the next Inner Index Rally 2880 ....
Technical Analysis and Outlook WTI crude oil is progressing towards next Outer Oil Rally $61.73 as well as Inner Oil Rally of the same price following an Oil Rally $58.40 completion on March 13, while there are no major resistance levels at this time. On the downside, we do have Key Sup $55.15 to entertain in event market breakdown. (For Market Commentary...
Technical Analysis and Outlook The downtrend is in progress, as the currency has broken out of the tight trading zone and violating Mean Sup 1.1330 in the process. However, a significant resistance stands at Mean Res 1.1390 . To the downside, we have newly created weak Mean Sup 1.1306 along with Mean Sup 1.1261 and Key Sup 1.1218 . Other significant...
If you believe big media news headlines you'd be thinking that GBP is on some mega path of recovery. It ain't. The evidence is that GBP is in serious trouble as seen by most of the big daily trends. Unless something miraculous happens big trends like these especially GBPUSD create further probabilities for the south. But on the geopolitical-economic circuit,...
The price i currently at the 0.886 Fibonacci level (drawn from (0) to 1.54729 Where i could see the price be in a range zone from 1.55713 to 1.53964 which is also between 0.886 and 1.13 on fibonacci. The price have been in a strong uptrend, where a trend channel also have formed on the daily chart. The price made a new high before starting to decrease, and can...
Continue to go bullish on oil in light with recent geopolitical risks supporting its rise. Setting up another buy stop with TP near 66 and SL near 63. www.wsj.com Daily: Weekly: Confidence: B (because of unpredictability in geopolitical risks)
As shown from the figure has been penetrating the falling trend under the rise of geopolitical intensity again, but on a personal level, this climb is only temporary and tend to drop the price again In general, in the figure we show the best areas to enter into a sale (I do not recommend) and buy into a sale Please note that in the meantime the mind is in the...
renewables +natural gas keep eating up demand middle east tensions cant be manufactured forever ISIS in retreat IRAN treaty will stay intact BRICS continue to pivot to renewables/ post-US empire allies
A breakout from the support level will immediately lead to a re-test of the "B" support level while the pair is still in the "C" level and the breach of the resistance level (which is unlikely) The first goal is "D" and the second goal is "E" Important point: The false break of support in A is the cause of the relatively strong rebound