SubZero

SubZero

Several macro drivers from both supply/demand perspective pushing the price up: larger market share of renewables in the energy sector and inflated prices by central bank stimulus all around the world. Dublin, March 02, 2021 (GLOBE NEWSWIRE) : "The global Vegetable Oil Market is anticipated to grow to US$ 299.18 Billion by 2027. It is expected to grow with a CAGR...

SubZero

I think even if there is a continuation to the upside price is likely to return to the average before next push.

SubZero

Channel break, looks confirmed on the third candle below the line. Do not expect a violent move like the last one marked, but can be half as much easily.

SubZero Updated 

New tests of support resistance, this is a bullish picture but one can draw similar inverse to the downside as well.

SubZero Updated 

9160 resistance held strong, We are likely to revisit 8600 - 8500 area, as long as that holds in about two days (given slim Ichimoku cloud above by that time) a likely re-test of 8975 will occur.

SubZero Updated 

CMF looks a bit overbought and BB% shows drop in strength, price action also suggests that we see lower before we see higher. Retesting the yellow line / previous support would be a conformation of bullish bias.

SubZero Updated 

Ascending triangle condensing the range, since the preceding price action is bullish a violent move towards the upside as it breaks short stops expected. It is likely that the gains will be retraced though in the 9500 - 9100 range.

SubZero Updated 

Good hold around 8470 - 8500 area, double top around 8920 (coincidentally or not 0.236 fib). R:R looks more favorable in the current range towards the downside. Bearish ichimoku cloud above also confirms.

SubZero Updated 

8500 might hold, but we have a new descending triangle, so one more push down to 8300 are is likely before finding the new support floor.

SubZero Updated 

On the weekly we are at significant fib level 0.236, the chart is still bullish on this time frame.

SubZero Updated 

Volume on downside break + Ichimoku 4H bearish cloud suggests more downside here.

SubZero Updated 

Gold +1.57% VIX +6.5% Coronavirus Live Updates: Italy Locks Down Region After Spike in Infections nyti.ms Coronavirus Spreads Outside China as Worries Mount www.wsj.com ASX is reacting too, to get in on the downward movement we have to be a bit more patient though, wait for some retracement from the shock.

SubZero Updated 

Some retracement is likely, but even more likely that it will drip down more on one of the parallel channels. Not a bright future for this one in the medium term at least :o

SubZero Updated 

I see 4 setups with similar R:R, in the order on the chart: - long from pullback (aggressive) - short from resistance (almost as good as a long play) - long from previous support (probably safest bet) - breakout play (aggressive)

SubZero Updated 

Momentum is subsiding a bit and we may retest 9630, but breaking 9700 should be a relief rally.

SubZero

The flash crash was not as bad as the last wipe based on volume. Upwards momentum is still good we are in BB upper range on the weekly. Daily momentum indicators are also crossing zero upwards. Recent bearish momentum is going to be dealt with in the 9925 - 10000 range then we will see if 10250 turns out to be unbreakable or not ... On macro level Gold is +1% in...

SubZero Updated 

Daily hammer formation, long bullish weekly trend to continue

SubZero Updated 

While the week had a strong bullish theme the second test of resistance has failed for now, also there is a notable risk theme divergence between currency and stock market strength - potential double top setup. Coronavirus, market sentiment, fundemental data release - see how the market digests. While AU exposure to Asian business is higher than the US and ASX...