Crude oil is seeing bullish momentum in price following the pullback we saw between October & December 2021. Price pulled back to the weekly 50 simple moving average where it found support and has seen a nice impulsive move up this month. Since the low that was formed in April 2020, where the price of oil temporarily reached $0, there has been an uptrend in play,...
The FTSE 100 has been gaining ground recently, with a 2.95% move for January 2022 alone. December was up 4.62%, so there is clear momentum right now. This brings a nice change from the sideways movement we had between May - October 2021. Following the all-time high created on May 2018 at 7903, price declined, gaining momentum during the peak covid pandemic in...
Will Bitcoin finally hold from declining any further? Only time will tell, but this level has held strong before so let’s see what happens next. A high was formed in January 2021 at $42,000 but the following month price surged past this level. From then on we have seen a sideways market. This level was then used as support in September 2021 before we saw a...
It’s the start of the year, and already, the markets are displaying a bit of turbulence to shake off the dumb money investors. This is merely a pullback for now, and there are clear signs to confirm this. We can see that the S&P has been using the 20 and 50 simple moving averages as support since the breakout in November 2021. At times when price moved lower...
April 2021 saw price decline 51% from a high of just under $65k to a low of $30k, where the 50 simple moving average was used as support. There was a reversal back to the upside after hitting this indicator and price went back towards $65k, even exceeding the high from April. In November, price fell again and came back to the 50 simple moving average, and so far...
The S&P is moving along well but is also encountering a few stumbling blocks along the way. In September and October 2021, price went into consolidation, which was due for that time of the year, and a breakout followed this. The start of November saw the beginning of another period of consolidation, which price currently remains in. Price has attempted to break...
Bitcoin appears to be sleeping right now, but should we be sleeping on Bitcoin because when it is ready to take off, we will not be given much notice as we have experienced in the past. We should always keep an eye on the market and read the information that price is providing for us. To the naked eye, Bitcoin does not look interesting as we can see price has...
Bitcoin has not made much progress since the decline from April 2021. Price suddenly fell 56% over the course of a few weeks to the weekly 50 simple moving average, which at the time was around the $30,000 round number. Following the bounce in July 2021, price headed back to the high from April and made contact in October 2021, where it failed to break and stay...
The current pullback we are experiencing in the S&P 500 is almost as deep as the pullback in September, having declined 5.11% so far. At the moment, the 50 simple moving average is holding as support. If this level fails, then we have the 200 simple moving average below, but price will have to decline a further 5% to reach it. A decline that far will see lots of...
The S&P 500 closed Friday with a huge bearish candle, and price found itself suspended between the 20 & 50 simple moving averages. The next logical level for price to move to was the 50 simple moving average, which is the next support level on the daily timeframe. Price had other ideas as Monday opened higher than Friday’s close and near the middle of the...
Last week's previous post for the S&P 500, the all-time high at $4718 was highlighted as the level we want to see broken to confirm a trend continuation. Price did in fact break this level on November 22nd, but this proved to be a fake breakout. Price moved above $4718 but failed to close above this price. We can see a mini consolidation in play now, and just...
Gold has been resting well, and the rest may have given new life to the bullish momentum as we are starting to see some progress this month. An all-time high formed in August 2020 at $2075, and from there, we saw a decline down through the $2000 psychological area of support/resistance and below the 50 simple moving average. Price formed an area of consolidation...
The S&P 500 experienced a pullback last week and before that, price had climbed up 3.64% following a consolidation breakout. When price was pulling back, we identified the 20 simple moving average as the next level of support that price would move down to. Price did not make it to the 20 simple moving average and had instead found support above this indicator...
Ethereum appears to be leaving Bitcoin behind in its dust as it is making new all-time highs following the long consolidation period between May and October 2021. During that time period, many crypto traders would have lost interest and felt the trend was coming to an end, but staying on top of the charts is essential as anything can happen at any time. The 200...
The S&P 500 looks set to repeat the trend which unfolded last November. Back then price formed an area of consolidation from September and this also occurred this September as well. When we notice patterns in the market, we need to pay attention because it will provide us with an advantage and give us an edge that could prove very profitable. Following the area...
Crude Oil has come a long way since the lows of April 2020, which took price down to just 1 cent. Price has since climbed back over 16,000% and currently looking strong. The first hurdle following the decline was in November 2020 when price approached the 50 simple moving average resistance level on the weekly timeframe. After defeating this indicator, price...
The market appears to be recovering from the annual September pullbacks, as we can see with the S&P 500. Following the recent declines, price found support at $4305 on September 20th and then it looked as though the pullback was over. But after failing at the resistance zone consisting of the 20 & 50 simple moving averages, price declined again, but this time...
The S&P 500 remains in an area of consolidation for now, following the decline we experienced in September. A high of $4545 was formed on September 2nd, then a pullback came into play which we anticipated as September is usually the weakest month of the year. The pullback was deep but did not touch a previous level of support or resistance. Price has since tried...