Stop loss in this trade is very less as I am taking very conservative entry.
We note that price has been trading along bullish uptrend line, from Aug 2011 to May 2013. However price has been consolidating sideways since June 2013 until now. We note a possible Diamond Top Formation close to breaking out. The breakout will likely happen after price manages to trade and sustain below 75.00. The objective of the pattern will be to reach...
After a fantastic run from 21 to 32, now it had attempted to cross 33 for the second time. Usually on 2nd/3rd attempt the price goes down. With negative divergence on RSI/CCI , i suspect the price will dive to long term trend support and fill the gap if a large slide happens. MACD and RMI are on top as well giving downside potential. Note that previous 3-5% push...
I'm going to time the top of crude with the top in the Canadian $. It is very clear where the Canadian $ will retrace to so i'll use that level for reference then look for clues of a top in crude. I'm guessing 105 area as its a nice round number.
The Technical indicater such as MACD, Stoch and RSI are loosing momentum. We had a double bottom, but now, it appears that we are on the eve of a double top. If this is confirmed, then, we may see a move with first stall point at resistance 9750 and around, then a move downward to 9490 and 9100 may be 89XX. Just an idea and a scenario we should think about.
Bit far fetched, but many indicators come into one play of forming a top in May. Point by point 1) After edging up on the sale support as before after making a new high, Nasdaq composite gives room for a head and shoulders formation. Top would be in May if this holds true. 2) RSI, Stoch and MACDcan all be traced with following the patterns to top in may should...
As many of you know United States and Japan's diplomats have been working on the Trans-Pacific Trade Agreement TPP. Trans-Pacific Partnership (TPP) is an ambitious plan for a free trade agreement among 12 countries which, if realized, could cover 40 percent of global GDP. It is a key plank in President Obama's foreign policy, and an effort to anchor the US firmly...