purpurato59

purpurato59 Updated 

This last bullrun on oil prices wasn't really supported by volume and we can see that reflected on the OBV which increased only a fraction of what it fell when prices went from 34 top to 26 bottom. That is, volume was way lower on this 15 USD rally than it was on a drop of only half that amount ! This fake out, is confirmed by the money flow index, now coming...

purpurato59 Updated 

This Fib speed fan describes past price action and seems to point that we reached a support line at 0,618. Today's candle is a nice hammer and bounced just above support line. We also tried to reach 50MA which now also acts as support and now we'll keep up with the previous uptrend. Stochastic shows we bottomed and we're about to resume and head north.

purpurato59

After a long bear market silver made a rounded bottom and is now clearly heading north. The MA50 is going to cross soon MA200 and RSI is showin a bullish divergence on the last top. After a local top close to 16, price retraced to 0,5 level and is now keeping with the uptrend. The breaking out of resistance around 15,7 could be a good entry point.

purpurato59

This fork describes price action for the last couple of weeks. We are now in the lower part of the channel and possibly going to re test 1240 in days to come. Long positions may be taken at lower support and closed when reaching red center line. The 50/200 MA crossing confirms we are now in a well established uptrend market.

purpurato59

This is a long term historic analysis of SPX showing the length of the bull market and its following decline. The MACD in this case is quite acurate to identify this long term tops. Following that we are already now on a long term bear market and the last top was around februrary 2015. It is not clear how long is it going to take to fully retrace as we did on the...

purpurato59

This fork frames quite well price action for the past few weeks and is quite aligned with last top. Even if uptrend is not so strong inside it, price will remain inside the green channel for some time. Yesterday's low was on the 0,38 Fib retracement and this could be a good time to place a new long. Idea invalidated below 400 where price could drop on the blue...

purpurato59

This was traced using the late august trough and 500 peak. Late action has been holding between 1/4 and 1/3 angles and we seem to be headed towards this resistance again. If price holds for few days above the angle, there will be some faster uptrending established. It is also possible that we just pinch it, as last time, so it could be a good opportunity to close...

purpurato59

We have been on a long period with no clear trend, but looking at the weekly indicators, it shows that we just broke a large triangle and it is even shaping a head and shoulders pattern. All the indicators shown are really bearish on this time interval. The best scenario would be an accumulation period that would take longer to define to the upside. I wouldn't...

purpurato59

If you use the weekly time interval and chart price back to the 1200 peak, you will find an interesting thing about OBV: we are at the same point, and we seem to have done a double peak. On the other hand, indicators like the RSI seem to be completing a H&S pattern which would be the beginning of a huge bear cycle. If this is the case, we could go back on the...

purpurato59

We have just crossed a major support line on the 40 USD level that defined the end of the 2008 crisis and the beginning of a new bull market period. This could be well the beginning of a new era where oil will have the 40 USD line as major resistance and we'll be back to a pre-2004 situation. Another possibility is that we are actually re testing that support...

purpurato59 Updated 

After a first attempt to breakout on the triangle, bulls have not been holding their position and this two last days have shown that correction is not over yet. Is it maybe the beginning of a new long term trade ? I thought that we were heading north (see my related idea) but this two last days have been deceiving. First target on the 420's and down to 400....

purpurato59 Updated 

Oil could not break the 50$ barrier and seems more headed to a downward movement. If this pattern completes, it may go soon to 40$ and below. Fundamentals don't seem to be helping either.

purpurato59 Updated 

After several days of sideways, the outcome is not clear. However daily money flow and RSI have been holding strong on the significant 50 level. Both indicators formed a head and shoulders pattern that seems to be over now, leading to a period of consolidation or uptrend. I still don't feel the upward trend, but breakout over the 450 level would definitely start...

purpurato59

The 1085 level was an old support that became resistance a few months ago, back in november 15'. At that time the MACD was also going on negative territory. If we manage to break out the 1085 resistance, we will see an upward trend that will be confirmed by the MACD also going back to plus. One week to wait or the breakout, otherwise it will keep going down. The...

purpurato59

We have been on a long established uptrend described by the pitchfork delimited by the two last peak and trough. The approaches to the limits of the median are accompanied by an MACD signal crossing. This time seems to be the same and in order to keep on the lower channel, some correction is required. This doesn't invalidate the long term uptrend, but some short...

purpurato59

This ADX seems to be heading to a third wave that will be stronger than the other previous two. There may be some retracing in between with a short opportunity between now and christmas. I believe we will keep on an old support and won't go below 400. Then Santa's rally will come and keep up till 2016, then.... who knows, hopefully some sideways calm period,...

purpurato59

I just traced this using a log scale and Heiken Ashi candles. My purpose was to make an analysis of the great bull runs in bitcoin history. What I see - Each succesive bullrun has started after the price stabilized on the previous peak. - Every bullrun has been shorter than the previous one, around half the time. - Retracements have been deeper...

purpurato59

This pennant is soon to be defined. I think we can still go down to the lower support and that will be a definition point in case it bounces back up.