Crude oil prices skyrocketed from the news that there was an attack on an Iranian militant in Iraq which increased tensions and caused oil to pop. Oil was already on a tear to the upside and market structure suggested long side, this just gave price a little jolt of energy. Tensions may continue to rise but market structure is still saying upside. The break above...
BTC has been rotating in a range between 7500 and 6500 for the past two months which leaves neutral traders with an unbiased position above or below two levels. It could go one of two ways and there is both a bear and bull case to be made. The bull case, a little less likely it would see is that BTC creates a triple bottom at 6665-6700 and rebounds. It will have...
Gold has taken a shine to the holidays, while equities were strong, gold was not shy on the upside in the slightest. We were targetting the next resistance level at $1543 then $1550 ultimately. However on the rise up we saw that the volume through resistance levels was pretty weak so that cements our pullback idea a little more. The drop could bring price down to...
We just ended a decade and a wild ride for 2019 having risen nearly 30%. From here many investors and traders may assume that there will be a strong move lower because prices can't go up forever. Normally, however, after such a strong gain, markets have the tendency to continue to rise the following year. That doesn't mean we can't see a pullback and that is...
The S&P 500 has been on a tear in 2019, rising nearly 30%, from low of the year to high it has surpassed the 30% growth mark. However, there has been a prevalent divergence between bond yields in the US and the SPX, which are correlated to move the same way. This means there could be a convergence in the near future to get back to the "regular" pattern. Over the...
Crude oil has been on a good uptrend since the large 2018 retrace, the price has slowly trickled up and there is an indication that it continues. ONLY IF certain conditions are met. There is an equal likelihood that we could see a large dump... Support structure is holding really well after a broke high on a larger scale at $53.00-$53.50. As of recent price has...
We've been monitoring BTC carefully and the downside press is in full effect, just recently a lower high formed and price rejected a key level. Which indicates there is more potential downside to come, should the 7400 resistance level hold out well on any test we can see BTC through the new low at 6430, this low was quickly bought up by strong buyers but there is...
ETH just hit our first target area after nearly 20 days falling from the $156 retrace area down to $122 and then some. From here if we follow market structure price can retrace into the $138-140 area before breaking through $122 and into our target area of $85. Price could theoretically move up to the $150 level where the impulse started but that is unlikely if...
DAX manages to break through the 13305 high on decent volume after holding the support structure we had mapped out at 12910. The fact that it broke into 13400 and retested the broken high at 13290 means that there could be immediate support here for an all-time high move or a slight retrace into 13050 before we see the all-time high again. For the move to come out...
Crude oil has made a strong run to the upside through a lot of resistance levels and target zones and the commodity still has room to the upside. The first level that was broken that we were targetting was at $59.90 and just above that the top of the channel at $61.00. The $61.00 target was barely hit on the day before price reversed slightly lower. The support...
UBER has been on a strong downtrend since the IPO, the company has not yet turned a profit and expenses are through the roof with little hope to switch to the long side in the near future. To add to that the co-founder and previous CEO Kalanick continues to dump shares, another +$160 Million worth and the stock continues to trend lower while volume to the sell...
We're at a crossroads on EURUSD, with recent pops on the pair one of 2 things can happen. A break out higher to 1.14 or a drop back down to the 1.105 level. We'll make the case for both below: 1. Bull Case: Currently, the daily candle is long and strong with no or very little wick, meaning the buyers are strong on the move. It broke above the previous...
Amazon drops into a key support level where it rotated a few times right at $1745 now its showing signs of strength and volume is starting to increase. It's been in a strong range for 4 months now and it looks like its about to break above. As long as retail numbers don't disappoint in the next few months we'll hit the first target at $1845-1850 and then into...
The uptrend has been prevalent in crude oil with a slight hiccup early in December, otherwise higher highs and higher lows have occurred. The most recent was a break above the strong resistance at $58.70 and held it as support. The candlesticks are really important in this analysis because the wicks are really pronounced and extended which suggests the buyers are...
Gold manages to hold support structure at $1464 which means that a higher low was made and the recent higher high suggests a change in bull structure. The upside seems to be opening up and the buyers are holding the structure. Buy volume has come in on swings higher. At this point we need to see the channel that we've drawn hold well on the support end and break...
BTC has been on a solid downtrend over the past 6 months, ever since the top out just shy of the $14,000 level BTC has been creating lower highs and lower lows and looks to continue based on the technical analysis. In order for BTC to break the downside trend it has to break above the previous impulse start of the downtrend and hold it as support, which means...
Oil has been on a tear this week and its mainly due to a lot of OPEC/OPEC+ talk. The upside came out on news of production cuts hitting the system shortly and we were anticipating price hitting the $60.00 area or near at least. That target was easily hit this week and now we have to question where could it go from here? There are two possibilities: 1) The...
USDJPY recently formed a strong up channel and looks to continue to move in that direction based on market structure. The support at 108.65 is expected to hold and we would like to see a pop into the next resistance points. There is a level at which we can expect price to move into at 109.200 then up to 109.330 these two levels are based on the Fib retracements,...