RSI very low
Market record low since March 2020
Fantastic opportunity to buy, TP 11700-11750 max - anything above this in my opinion is risky
This is not a trading advice. Always do your own analysis before entering the market.
The market is very overbought. Pullback is a matter of time.
As Christmas holiday is coming not sure if it happens in Dec or beginning of Jan.
4330 previously was a strong resistance so I’m expecting this it become strong support durrring market correction.
The market rallied for a while. I expect the correction is just a matter of time.
My target around 3050, with expiry date for contract 10th August.
This is not a trading advice. Trading is risky, always to your own analysis.
It looks like COCOA is setting up to cool off.
I'm not sure if it'll go lower than 20EMA - I consider this a low risk trade. I don't see the market going much higher without small correction first.
This is not a trading advice. Trading is risky. Always do your own analysis.
The Daily RSI is pretty low
BoJ didn’t raise the interest rates
The market is trading withing range for over six months now.
With low Christmas volatility, the buyers might move the market to 27100- ish.
This is not a trading advice. Trading is risky, always do your own analisys before opening the trade.
With holiday comes low volatility. I expect market to stay within 7080-7158. Very likely till first week of January.
This might play out two ways:
1. Bullish scenario:
- we break above 7158, and hit 7250. (Max 7400 to form double top on daily chart and then drop to 6500 or even new lows)
- looking into Elliott Waves strategy - we could face one more wave to the...
USDCAD is in correction phase. It might take a while durirng Christmas period and lower volatility.
I think the market is getting ready to reach a new high early January 2023.
Trading is risky. Always do your own analysis before trading.
The markets are unpredictable, especially this year but I simply can’t see the way for USD to go significally higher without testing support 1.30 area.
Indices at the moment are untradable for me so I looked into fx to see what can be expected there.
USD has been rallying for a while, it needs deeper correction at some point. If it happens, it will have plently of room to upside.
That is abviously a death cross on VIX daily chart but if you look in the past last year, I doesn’t mean the trend will go much lower. We had similar thing in the beginning of this year but VIX quickly rallied and we are where we are now.
Now, that’s of the way, Here are the reasons we soon see big drop on all indices:
- Most of the indices tend to take same...
Is this a shooting start on daily chart?
The market reached 4250 and, as expected, was rejected.
It’s still holiding above 200EMA, so it might be here for a while.
I’m also looking closely ar VIX - which showed a little green today although I don’t see MACD turning around yet.
Trading is risky, please do your own market analisys before entering the market.
I’m still bearish, why?
- We’ve been having quite a rally for last few weeks. We are very close to 61% fibonacci, that will be strong resistance 4250.
- July 2022 CPI was good but the market didn’t go much higher
- we are almost overbought on daily chart
- MACD looks like it might turn around soon
- buyers are running put of steam, the market didn’t do much in the...
I compared what happened in 2008 with current chart:
- In 2008, the market fell over 50%
- In 2008, the bear market lasted around 450 days
If we’re about to witness similar situation now, we are long way from the bottom:
- 50% drop would be around 2200, they we would see double bottom and trend revelsal
- the bear market would last till March/April 2023
Of...
Nikkei has been rallying in the last few days, and broke a trend line. Everyone is wondering is it a reversal move or just a bull trap.
This is remain to see but for now I see pretty strong base to go higher. Saying that RSI is quite high, not oversold yet but compering to US indices JPN225 is less like to be severely oversold. Very likely the pullback is...
