Bitcoin formed a high at $42,000 on January 8th 2021, which was then followed by a pullback. Price then broke above that high to create a new all-time high at $64,894 on April 14th 2021. The buyers soon gave control back to the sellers, and in May 2021, price came down to $42,000 and used this level as support for a couple of days. It did appear that this level...
The S&P 500 continues to use the 20 and 50 simple moving averages as support along the trend that is currently in play. On July 19th 2021, price pulled back to the 50 simple moving average yet again which coincided with a previous resistance turned support level at $4257. A nice clean bounce from this level took price above the previous all-time high at $4393...
While Jeff Bezos is flying rockets to space his company appears to be setting itself up for its own take-off. If we look back at this stock, we can see that price was in consolidation from September 2020 following a 116% bullish run from March 2020. Such a strong move was likely to cause long-term sideways movement as the market would have become exhausted from...
Price at the start of the week didn’t get off to the best start as Monday opened up with a gap-down candle. Not only did price gap down, but it also closed with a large bearish candle. On a lower timeframe such as the 5-minute chart, the drop would have looked a lot more frightening than it actually was. If you have been following our posts for a while, you...
Since our last post on June 22nd, price has progressed really well. Back then, the all-time high at $4275 was yet to be broken. It did go on to break this level and right now price is up 2.57%. Price was also rangebound back then, hovering between a high of $4257 and a low of $4056. Since breaking out, price has formed a nice neat linear move up, creating new...
Since our last post, palladium has made good progress, moving up $90 to meet the resistance from February 2020. Price is at an interesting point, because a clean break above and we should see price move towards the all-time high at $3017. The weekly 50 simple moving average has aided this gradual upwards move. The first break of $2875 was short-lived as price...
Microsoft’s movement has been relatively predictable over the last few years, as you can see on the monthly timeframe. We have seen trends followed by consolidation/pullback, then trends again and so on. Currently, price is in the trend phase and there are also smaller areas of consolidation on the daily timeframe (not shown). The most recent consolidation...
Palladium looks set to make another attempt at breaking out of the 16 month period of consolidation, which began in February 2020. A break above the consolidation high at $2875 was made in April this year, but that was short-lived as price returned back into the consolidation zone after being forced down by the $300 round number psychological resistance...
The S&P 500 ended last week with a big bearish candle. The Dow Jones 30 also closed bearish with a gap-down candle. Price action today was important to give us an idea where price may be heading next. If we continued to see bearish moves today, then that would have indicated the potential end of the trend. But Monday and Tuesday so far have seen a nice reversal...
Following the free fall we witnessed in Palladium last week, price has appeared to have found some form of support just above the 50 simple moving average. Price does tend to hit the 50 simple moving average, so if we see further declines, we may see price tag this indicator before seeing a continuation to the upside. In April this year, price had finally broken...
Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and...
The Nasdaq 100 was leading the way and trending stronger than the other main two US indices, the S&P 500 and the Dow Jones 30, during the pandemic last year and looks to be leading the way once again. This week we saw price break above the previous all-time high at $14073 but price has since retreated back below this level. If the week closes above $14073 then we...
In the previous post on the S&P 500, price appeared to be moving fast towards the all-time high at $4238, but it has taken longer than expected to get there. The pullback has turned into consolidation but used the 20 simple moving average as support, which did help price move higher towards the end of last week. The monthly candle for May closed with an...
Microsoft is following a pattern of trend then pullback/consolidation followed by trend and so on. Although the pullbacks and consolidation zones do last a few weeks, this stock is a consistent mover, and just requires patience if a position is held. At the moment, we are seeing a trend in play, forming higher highs and higher lows with price now making its way...
The S&P 500 is progressing well and after bouncing off the 50 simple moving average last week. The 20 simple moving average appeared to be acting as temporary support, but today we can see price is above this indicator. As mentioned in previous posts, we have support levels in the form of the 20 and the 50 simple moving averages and the $4000 round number, which...
The recent declines in the market were just another profit-taking session for short-term investors. It may have sparked a lot of fear amongst investors new to investing, but savvy investors would be fully prepared for such events. The $4000 round number is also below, should price decide to move further down. This level may act as support, and further down we...
Bitcoin has been making headlines throughout this year, mainly due to the 123% growth we witnessed from the start of the year to its peak in April, almost reaching $65,000. As is the case during strong moves, we will experience a correction, and Bitcoin appears to be doing just that. We now need to establish levels of support that price may bounce off. Support...
Palladium had a nice run between 2018 and 2020 with a rise of 245% during this period before the Covid-19 pandemic hit price. From that point, price created an all-time high at the time of £2875, then there was a sharp decline to near the $1500 round number. The round number and the 50 simple moving average cushioned the fall and gave price enough support to...