Upward momentum continues to look stable. when looking at the charts for the next few days. The daily chart still shows stable momentum in PPM1 even as PPM2 and PPM3 are still struggling along. This may mean that the upward momentum will carry on for some time but is prone to suddenly dropping off. Note that PPM1 is only at 0.1928, not exactly a very strong...
Looking at the daily chart, it seems momentum is waning. PPM2 can't seem to maintain its position above the first derivative for much longer. Same goes for PPM3. While it seems like its all doom and gloom, note that the PPMs are only hovering around 0, not going into a trend.
Looking at the weekly chart though, we see momentum looking to pick up, with PPM1...
Currently while the daily short term PPMs are in trend, they look to be losing steam, which could mean that they are topping in the short term.
Take some solace from the fact that we recently had a slightly higher lows and slightly higher highs so the chance of a downward trajectory over the mid to longer term is not likely.
The weekly chart seems to agree....
Momentum on both daily and weekly charts seem to be stabilising.
We start off with the daily where we see PPM1 in trend mode up. Looking at the 10 SMA, it shows a continuous slope up as well. Price could hit the high fib targets above at 3.257 if the momentum boost in the algo for today plays out.
PPM2 is also looking to spike up today at the open meaning the...
Looking at the weekly chart, we see that while there is no major change in the slower momentums, the faster one looks to be moving back up again.
PPM1 is starting to recover some momentum even as it is still in a downtrend. While price looks like it is starting to recover as a result, I'm not convinced of this recovery. However, price has already hit the low fib...
As the selling continues, it has brought the PPMs 1 and 2 on the daily and the weekly charts into downtrends. While the PPM3 of both daily and weekly charts are still trendless, they are already in negative territory.
However, not all hope is lost. The algos on the PPM1 across both charts are looking at a stabilisation in momentum.
Weekly PPM1 algo looks to...
Looking at the PPMs on the weekly chart, it seems like there will be some sort of recovery of weekly short term momentum over the next couple of weeks.
PPM1 looks to be slowly recovering, which means momentum to the downside could slow down as it slowly approaches the 0 line. While the lows are still not in, price could be searching for a floor within the next...
While the daily shows a spike in momentum coming up tomorrow on the PPM1 with a corresponding spike in the 10 SMA, the weekly chart still looks bearish with momentum not yet in downtrend but all underwater.
PPM1 on the weekly looks to head further south and the 10 SMA with it. The direction of the longer period SMAs are also looking to only stabilise after...
Looking at today's charts, there are mixed outlooks. On one hand, the daily outlook looks slightly more rosy with a spike in momentum being predicted in the coming few days. PPM1 looks to be waiting to pounce. The algo on the 10 SMA is showing the same thing. This can only mean that price is likely to push upwards.
However, the weekly chart is still showing...
As cautioned last week, we begin the new lunar year with a sell off. There is still more down side expected looking at the weekly chart.
All the PPMs are under water, though not in downtrend yet. But the algos on the SMAs are looking down. Algos on PPMs 2 and 3 are pretty flat looking ahead, but not indicating a return to 0 line. PPM1 looks to be headed for more...
Price hit the bottom of the range in yesterday's session and reversed. Now price is looking to go back to the top of the range. However as the SMAs are still not in trend mode, it is likely we see only a rise max to the top of the daily market grid at 3.254.
On the weekly chart, it still looks pretty bearish for now, but at least the rise in price has put the...
Friday's jump while unexpected did not continue in today's opening trade. Hence we could be seeing some more stabilization with possibly a larger range.
Algos on the daily PPMs show banding around the 0 line, which means the SMAs will start bunching together, which also means stabilization and range trading for some time.
On the weekly chart, momentum looks...
As mentioned previously, there is some stabilization going on for now. The daily PPMs are showing some signs of recovery and the algos on the SMAs are slowly turning back up.
However, the weekly algos are still contradicting this short term view, with all PPMs and SMAs pointing to a sharp drop in the upcoming weeks. Of course this is subject to daily revisions as...
It seems like momentum is heading south, fast. The algo on the weekly SMAs are already south bound with the 10 SMA being the strongest indicator yet of a train wreck incoming.
While the PPMs are still not in a down trend, the algo looking out seems to signal a downside bias for the momentum.
On to the daily charts, the PPMs 1 and 2 are already heading down while...
Currently there is no trend visible on the charts, which means likely a sit-and-wait scenario. PPMs on the daily and weekly are all in no-trend mode and the algos on the SMAs are mostly flat for the near term.
More work needs to be done before we get any sort of direction in the market for now.
Compared to yesterday's session, today's daily PPMs look to show signs of stabilisation in the upcoming week.
Although PPM2 still looks good for the bears, PPM1 is looking to turn up after some stabilization of momentum.
This lines up with the weekly algos showing next week having some positive momentum. However things still look like more work needs to be done...
The derivatives of the daily PPMs are crossing over, or already crossed over. This looks like price has found a top and is getting ready to bowl over.
Note that yesterday's sell off had breached the lower limit of the trading range. This means that there will be either a breakout to the down side (which looks most probable according to the PPMs) or a retest of...
With the downward momentum out of the way, price looks to start regaining momentum again. It may be limited to this week though, as the algos on the PPMs show a reversal again after a couple of days.
Weekly chart is not able to provide much information for this week as the PPMs 2 and 3 are not in any trend, hence there's nothing preventing the price from...
