Gapping higher to test 120.00. Consolidation to develop, with limited downside tests. Fresh gains confirmed above critical resistance at 120.40. Bull Signal intact at 116.73 Stop has been raised to 118.84
Break below 25.65 putting focus on the 25.40, (50%) Fibonacci retracement of the 2016-2017 rally. An unexpected close above 25.65 will help to stabilise prices. Bear signal from 26.15 intact. Stop lowered to 25.71
Short-term consolidation is underway, with Crude Oil prices currently balanced around the USD47.20, (61.8%) Fibonacci retracement. However downside risks remain in force as bearish weekly studies deepen. Further weakness is looked for, with a break below the USD47.01 low of 22 March opening up the USD45.28, (76.4%) retracement. Still lower is the USD44.82 low of...
Bullish sentiment in the US S&P500 Index is fading. Risk/reward is turning lower, as overbought momentum studies unwind and the Tension Indicator (not shown) continues to weaken. The break below the 2351.31 gap low of 17 February has been seen, with focus now on the 2326.10, (23.6%) Fibonacci retracement and the 2319.23 gap low of 10 February. Deeper reactions...
The UK FTSE100 Index remains strong, but gains are expected to continue to prove difficult to maintain. Overbought studies and negative divergence on the bearish Tension Indicator (not shown) are adding pressure to bullish sentiment, with any initial tests of the 7500/11 barrier to prove difficult to sustain. Risk/reward is for a short-term corrective pullback,...
Sharp fall. Further losses in the coming sessions as studies and sentiment continue to weaken. Bear signal intact at 238.42.
The USD DXY Index is coming under increased selling pressure. Prices have fallen sharply from the 101.79 high of 14 March, with falling momentum studies and the weakening Tension Indicator (not shown) expected to keep prices under pressure. A break below the 99.63 low of 6 February will open up critical support at the 99.23 monthly low of 2 February and 99.27,...
Selling pressure increasing. bear Signal at 26.15 deepening. Potential for a break below the 25.94 Fibonacci retracement and 25.93 low of 16 February. Bearish studies to limit any immediate bounce. Stop Loss lowered to 26.27.
US Equities remain at elevated levels, with prices extending the November 2016 rally to reach 2400. However, immediate continuation is expected to find difficulty reaching the 2460~, (200%) projection of the 2015-2016 fall, as overbought short-term studies unwind and monthly stochastics continue to unfold in extreme levels. The progressively steepening...
The USD DXY Index continues to find difficulty sustaining higher levels, as resistance firms at the 102.26 high of 2 March. The anticipated corrective pullback is now underway, as daily studies extend lower, with a break below congestion around 101.00 opening up the 100.41 low of 16 February. A further break cannot be ruled out, as momentum studies and the...
Crude Oil prices have begun their anticipated corrective pullback. Prices have broken below the USD50.71 congestion base and reached the USD48.35, (23.6%) Fibonacci retracement of the 2016-2017 rally. Falling momentum studies and the bearish Tension Indicator (not shown) anticipate still deeper reactions towards the USD47.18, (61.8%) Fibonacci retracement of the...
Bullish sentiment in the US S&P500 Index remains intact, but prices are finding difficulty sustaining the test of 2400. Risk/reward is turning lower, as overbought momentum studies unwind and the bullish Tension Indicator shows signs of fading. A break below the 2351.31 gap low of 17 February is looked for, with focus then turning to the 2319.23 gap low of 10...
Extending lower. Focus on the USD113.70 Fibonacci retracement. Falling studies to limit any immediate bounce. Bear signal from 119.06 intact. Stop lowered to 117.05
Gold prices have extended the December 2016 rally. However, buyers are having difficulty sustaining levels above the USD1248.50, (50%) Fibonacci retracement of the July-December fall. A corrective pullback is now looked for, as the Tension Indicator continues to weaken, with focus turning to USD1200. A close beneath here will turn investors cautious, but critical...
The UK FTSE100 Index is regaining higher levels. Prices have posted a close above the 7354.14 high of January, suggesting potential for further gains towards the 7465, (38.2%) Fibonacci projection of the november-January rally. However, studies remain mixed and are beginning to show negative divergence, highlighting continued profit-taking pressure and risk of a...
Gold prices have failed to extend the December 2016 rally. Prices are settling back from the USD1263.80 monthly high of 27 February, as bullish short-term studies unwind. Focus is turning to the USD1216.80 low of 15 February, with the USD1210, (38.2%) Fibonacci retracement just beneath here. A break to congestion around USD1200 is looked for, as overbought...
Extending gains to test the 61.8% Fibonacci retracement at 26.38. Sentiment remains cautious, suggesting difficulty reaching congestion around 26.60. Bull signal from 26.29 intact.
The UK FTSE100 Index is finding difficulty maintaining the bounce from the 7093.57 low of 2 February. Prices are falling back from the 7329.56 high of 20 February, as short-term studies turn bearish and the Tension Indicator (not shown) continues to weaken. A pullback towards 7093.57 is looked for, whilst a close beneath here will signal a deeper reaction, as...