The Index remains slightly above our entry of 21592 in the past few days, not the time for break out just yet. However, bears are ready to take over, and fireworks are in the cards.
The Euro Dollar rallied a touch against US Dollar, and that was probably why DAX Index stocks wobbled initially. The mood remains quite sour in Europe after a negative Wall Street open, with German Index dropping a 0.5 %. Trade Selector Signal Sell signal 12418 is intact.
With another crazy trading week, record short covering up has taken place in the Gold market, by the usual suspects (bullion banks, and commercials). The huge upside breakout with the metal is imminent.
Towards the session close, Dow Jones Index was over 750 points lower, having the final thirty minutes saw a 200 point rally by having an end of 23933. I guess most of these algorithms aren't that kind after all.
The IOTA bearish momentum remains to be relatively weakened, as crypto found key support at the $91.50 level, as the coin only hit a marginal new low in the midst of the crypto segment-wide decline move. While a trend break may be in the cards, just long-term traders and investors should consider looking for entry points.
NEO coin found support just under the key long-term near $44 level, slightly decoupling from Ethereum coin, which has been tracking tightly through the entire correction. Key resistance is found at $53.40, while further support is near the $32.70 price level.
Monero (XMR) remains to be the brightest coin in the crypto market, with clear signs and symptoms of decent strength amid the persistent selling. In spite of the muscle, short-term investors will still be struggling with an uphill battle.
Ripple was among the leaders of this week’s rally. The coin is held on to its short-term gains and remains under intense selling pressure and within the declining trend. The crypto is in an oversold position regarding long-term momentum with a new Sell signal of $0.54910 intact. Primary support is found near $0.44165. The stop is at 0.67480, and T/P at $0.3690.
Dash coin continued to be somewhat fragile since during the most recent selloff, and it's currently trading slightly above $300 level, that marked the most recent key break-out. The coin faces stiff resistance at $340, (Our sell) with key support near $281, If Dash should hold up near the current levels to keep heading higher the Sell signal at $340.00 is intact.
Litecoin accompanied the broader coin market lower, losing its robustness following the LitePay controversy. However, the crypto kept above the February low and is heading higher throughout the latest bounce and hopefully to our sell level. We still anticipate the coin to lead the crypto segment in the next upswing, after fulfilling its T/P destiny. The bearish...
Ethereum operates in the most significant position form the technical point of view as it's trading within the “take-off” area of the latest leg high. The crypto coin will need to keep this range to prevent the other bear signal. Momentum is significantly oversold, and we continue to anticipate the bear trend to resume, so long-term investors could still add to...
Ethereum Classic is undoubtedly retaining above the February lows, for right now. However, the short-term situation continues to be gloomy, as Ethereum Classic is comparatively weakened, and the declining trend is indeed not broken. The crypto continues to be oversold coming from a long-term standpoint, so we continue to anticipate a significant bottom to form....
Although a healthy trading leadership is lacking from the crypto segment, Bitcoin as well as the most robust altcoins staying on top of the February lows, and those cryptos will more than likely deliver the momentum for the upcoming upswing. A test with the lows continues to be in the cards considering the bearish semi-long-term set-up, with the sell signal...
It had been a close battle between the Japan Nikkei and the Indian SENSEX indices for Thursday’s outperformer in core Asia market. Nevertheless, the victorious one was eventually SENSEX. The Index rallied up 1.75%, with all market sectors contributing to the sentiment. The Nikkei Index added healthy 1.55% on the Thursday session. However, we're paying attention to...
Running the Shorts: Meanwhile, right before stocks significant surge in past couple days, a large number of investors are anxious and watching for the next shoe to fall, which has them perhaps underexposed in the stock market or solely on the sidelines entirely. This what happens in correction marketplaces. Correction markets furthermore leave some riders on them...
Eurozone markets were buoyed by the depreciating Euro Dollar and British Pound and added in a push of the Asian stock markets which were open. Surprisingly enough, the US Dollar has some life back in it merely as MSM media is writing it off! Thursday we got a respectable plus 0.5% rally in the DXY Index with the trader's talk of short-covering punching many...
Unquestionably, the least expensive asset class in the world is the Gold and Silver, which continues to be continuously suppressed (Magical price of $1400) by the regular suspect's (Bullion banks, and commercials). All upside movements are capped, without follow-through allowed. When one looks at how much financial debt has been produced throughout the world since...
In Japan, the Nikkei Index traded very well throughout the day on Tuesday having started out on its lows. Furthermore, adding to these results in US trading hours which was having an adverse impact on the Yen currency and is seen trading 0.7% lower on the session at mid 106 handle. There are two obstacles towards T/P1, one Key Support at 20,1618, and Key Low at...