Inner Perspective (Daily Chart) Bulls aren’t giving up however neither are the bears as they’re both still fighting it out at the mid point of this upward channel. Todays close is more in favour of the bulls with a close above the open and preventing the bears from pushing lower then the previous days wick, although they still let it happen. Bulls need to fill...
Inner Perspective (Daily Chart) Daily print on close/ open sees a daily dojo complete, P action did test the highs although this zone continues to hold a lot of resistance from the bears pushing down to 9450. We open today at the 9700 levels for another push to the upside. Area of Interest Opening at the mid point of the upward channel today gives the...
Outer Perspective (Weekly Chart) Positive territory for the week close after a weekly P action range of $1700 finds the new candle opening at 9666. To keep within the range of the prior weeks candle shows more confidence in the weeks P action to come if it can stay above its opening price. The 10k whole number will have the bulls wanting to break but as for the...
After breaking out of price consolidation (yellow rectangle) it’s crucial that the bulls keep oil above this price point and move to the apex depicted in the chart. A break of the inner upward Trend line will see oil back into the consolidation point so its imperative that the Bulls keep at these levels or above. A Rise to 32 (R1) will see some bears to contend...
XRP has a seen a lacklustre break of the downward trend line from the highs. Price does see it caught in prior P action consolidation area. A break high this week will form the catalyst for a future channel. A break below 0.18 takes that off the table. 📈Support & Resistance📉* Support Levels 1st Support Zone: 0.17374 2nd Support Zone: 0.16117 3rd Support Zone:...
Outer Perspective Pointing out the inner upward parcel channel to overall price before going more internally to the charts so we observe the Marco to micro outlook. Also note the trend line from the ATH and the lows back to the start of ETH’s inception. Inner Perspective It maybe to early to confirm however ETH looks like to close the weekly candle...
Looking for some confidence or lack of, anything really, to move this market out of this range of chop. Price at Mondays open will be APEXing, so hopefully traders can push this in a direction up or down for some clear trading sentiment. If positive during the week an upward carrell channel could form for the following weeks to respect.Taking sentiment away from...
Similar write up to last week much remains the same until S&P and Dow Break previous highs (S&P above 2900 / DJI above 24600) S&P: If P action in the next week closes below the orange line at 2723.3 attention will turn more bearish and watch for market to fall to 2460.2. In this instance will reassess market dynamics as it may bounce in this range or continue to...
Platinum Overview Good ol’ XPT closed the week higher. If P action at Mondays open can push P action above this consolidation platinum could have a good week in the green. A hold above this and a follow of the likes of Gold and Silver could see price reach $880 within the next 2 weeks. If American markets fall, will look to see the precious metals take a slight...
Silver Overview Silver broke north as depicted in my previous silver post to close for the week at the 16.6 level which sees the major swing low. A level reflected before the drop a lot of markets encountered in March 2020. This is to be acknowledged, as the Bulls need to contend with these prior price points. The bears will be defensive preventing the bulls to...
Area of Interest Although this week Bitcoin has tested the 10k mark twice we are currently at a safety spot, yet this is not a comfort level. A break lower will signify a lack of dominance and bears may look to punch their weight down more heavily. With price sitting on the outer downward channel upper trend line a break below, although still in the upper tier,...
Outer Perspective (Monthly Chart) Half way through the month of May and Gold is climbing seeing highs not seen since November 2012. Hopefully momentum and world dynamics in its favour to test levels depicted on the left hand side of the chart and breaks the wicks of 1795 and above. Area of Interest Looking to the highs. Gold is placed well into the close to...
Outer Perspective (Weekly Chart) Coming into the weekend P action has shown vigour to test the ATH half way price point getting $50 shy of 10k and retracing to current levels at 9430. This sis good to see this area come into play, however Bitcoin needs to watch it’s back that the bears don’t push further. Inner Perspective (Daily Chart) P action is above the...
Bitcoin has broken out of the consolidation area to the top of the triangle (perch), however not out of the woods just yet; Outer Perspective (Monthly / Weekly Chart) From the naked chart purely looking at P action Bitcoin looks to make a push to the 10k / half way area being ~ $600 away. Monthly: Weekly: Inner Perspective (Daily Chart) Daily candle...
S&P: If P action in the next week closes below the orange line at 2723.3 attention will turn more bearish and watch for market to fall to 2460.2. In this instance will reassess market dynamics as it may bounce in this range or continue to fall Dow: The same flows for Dow Jones with P action in the next week close below the orange line at 22931.5 attention will...
3 Elements in the charts to discuss today: -Outer Downward Channel -Inner Upward Trend Line -Inner Upward Channel -Price Consolidation Inner Perspective It’s been a day since Bitcoin halving so the flippant price movement should subside due to media releases turning their attentions else where (click-baiting and throwing hate that Bitcoins doomed perhaps)....
The question remains, When’s the bounce back from this pandemic and when will these low oil prices come to an end??? Tick tock tick tock you might say. Lets remember a few things that occur in ‘normal’ circumstances: - Oil and gas exploration and production is driven by current oil prices, future prices and availability of resources. - Higher oil prices also...
*Ethereum similar set up, see link below Area of Interest XRP battling resistance and by the end of the day will come to the Trend line from the ATH (orange Trend Line) Price may battle this area or come down to test the APEX. If respects and goes higher a channel zone is in play. Will check back in a few candle prints 📈Support & Resistance📉 Support...