The S&P 500 is continuing to gain ground and with enough momentum, we should see price reach the $3000 round number. Whether price will successfully break above $3000 is anyone’s guess but we may see it make contact with it in the near future. As the current pandemic appears to be settling down in certain parts of the world, investors appear to be more relaxed...
Gold displayed strength to the upside during March & April of this year but has started to slow down this month. The reason for the slowdown is due to the recent high at $1747 which is proving to be a problem for price. Despite the hesitation at resistance, price has the 20 simple moving average below to use as support. Price is currently in a squeeze, in...
Gold was affected by the strong selling in March due to the current pandemic but the fast decline was cushioned by the daily 200 simple moving average. Since the 20th March 2020, price has found its footing and regained the points that were lost and has gone on to create new all-time highs. The bullish move has appeared to have exhausted price for the time being...
The 20 simple moving average is proving to be a strong level of support for the S&P 500 since the uptrend which began on the 23rd March 2020. On Wednesday of last week, price did decline below the 20 simple moving average but by the close of business on Friday, the sellers lost control and the buyers were able to close the day with a bullish bar. The analysis...
As the S&P 500 continues to show strength, we can see that stocks are showing signs of strength as well and one of them includes Apple. Apple, like many stocks, suffered a huge decline in February and March of this year as a result of the pandemic, suffering a 35% decline but it has now recovered by climbing up 47%. We experienced a bullish April and so far in...
It is coming up to crunch time for the S&P 500 as it approaches a pivotal point that could determine the next move in the markets. From the 23rd March 2020 low at $2,191 price has climbed up 34% which is an extraordinary recovery considering how fast price fell in February & March of this year. On the surface, it appears that price will continue the bull trend...
The FTSE 100 has been held up by a strong level of support over the past couple of months. February 2016 created a low at 5499 which was retested in March and April 2020 and going into May, we want to see momentum to the upside. Identifying major levels of support in advance is very useful because it will give you an objective view of the markets, it also...
The S&P 500 is now up 28% since the sharp decline we saw back in February/March 2020 following the COVID-19 pandemic. This has been a good recovery for the market so far but there are still some hurdles on the horizon. Price is now comfortably above the 20 simple moving average and is finding support there as well. If the 20sma holds strong as support then it may...
Last week the S&P 500 was showing near-term weakness and appeared to be moving down towards the weekly 200 simple moving average. It started to show strength by the end of the week and closed with an indecision candle. This week, we want to see further strength to the upside and for price to move up towards the $3,000 round number. This is a psychological area of...
Amazon has had a nice run from 2014 to 2018 where we witnessed a 645% price rice from $274 to $2,050. Price eventually became exhausted and began to form a long-term period of consolidation where the buyers and sellers have been trying to establish dominance over each other. The resistance level of the consolidation zone also coincides with the major $2,000 round...
The S&P 500 has had good growth in the last few weeks but the momentum has now slowed down and we are starting to see some weakness in price. This may be a bullish pullback or we may see a continued decline in price. For this reason we are standing aside from taking trades for now at Sublime Trading as we can not predict the next move, but only act once we see...
Crude Oil made, never before seen, historical lows as price not only fell below $0 a barrel but also went into minus. The lowest oil prices have ever fallen to in the past was a low of $9.75 which occurred back in April 1986. Flash forward 34 years and price has easily sliced through that historical support level. The decline happened as the May oil contracts...
Gold has experienced a lot of volatility recently and mainly due to the current health pandemic but price appears to be gaining some order now. Since May 2019, price has risen 37% but hasn’t formed the neatest of trends. There have been periods of pullbacks such as the period from the 4th September 2019 to the 6th January 2020. The sharp decline, which was a...
The S&P 500 has made a good recovery so far since the declines from February & March of this year, but it still has some way to go before we can confirm the resumption of the bull trend. The December 2018 low is a strong level of support which helped to push price back up and through the 200 simple moving average. So far this week we are seeing an indecision...
The S&P 500 appears to be making a comeback following the 32% fall in Febrauary and March 2020. But the probable comeback is still in the early stages where there is uncertainty. We can clearly see from the chart that the fall was caught by the December 2018 low at $2,346. After price hit this support level it quickly reversed back to the upside. Two things can...
Gold is now making good progress after falling 14% from 9th March to 16th March 2020. After moving below the 200 simple moving average, it was unclear whether price was going to decline any further. On the 23rd March, price returned back above the 200sma where it was finding a base and the bullish momentum on that day was enough to push it above the $1,500 round...
Palladium trended really well from May 2019 to February 2020 and was set to reach the $3,000 round number but the current pandemic had other plans for the economy. We soon saw a sharp decline in price, falling 47% in under 3 weeks, wiping out 6 months of gains in a fraction of the time. We are now seeing a different kind of behaviour in this commodity and price...
The S&P 500 suffered over a $1,000 drop in Febraury through to March 2020 and appeared not to be slowing down. Price even closed below a major support level from December 2018 at $2,346. This was an indication of further weakness to come but you can never predict what price will do next which is evident here. Price quickly reversed back and is currently showing...