Ascending Channel and Key Support: Resistance Zone and Potential Breakout: Volume Analysis: Probabilities: Bullish Breakout Scenario: False Breakout and Reversal: Trade Opportunities
Author
Jay
Will Russell 2000 (RTY) Continue to Lag NQ & ES?
Introduction:The Russell 2000 Index (RTY), which tracks small-cap U.S. stocks, has been underperforming relative to the broader equity indices like the Nasdaq 100 (NQ) and S&P 500 (ES), despite a modest year-to-date (YTD) gain of 5%. In comparison, the Nasdaq is up 14.3%, and the S&P 500 is up 16.8% YTD. This underperformance in small-cap Read More…
Does The Dollar (DXY) See Strength Returning?
Overview of the U.S. Dollar Index (DXY):The U.S. Dollar Index (DXY) is currently trading around 101.724, showing a recent bounce from a key support level. The DXY has been in a broad descending wedge pattern, which is generally considered a bullish continuation pattern. The bounce from 100.8 to 101.724 is significant, as it coincides with Read More…
Japanese Yen Futures (CME, Daily Chart) Technical Analysis
Overview and Market Sentiment:Japanese Yen futures have been in a strong upward move since June 2024, but there are signs of potential exhaustion, with the formation of a double top near the 0.0071010 level. The double top pattern, combined with bearish divergence and the volume profile, sets us up for a potential short opportunity with Read More…
NASDAQ (NQ) ‘Only In Correction’ Technical Outlook
Overview and Market Sentiment:The NASDAQ 100 futures (NQ) have been in a strong long-term uptrend, gaining 22% for one year, but the recent pullback is raising caution among traders. The daily chart shows a technical retracement after reaching an All-Time High (ATH) earlier in the summer, and now the price is testing key support levels. Read More…
Gold Bull Flag ‘Strong’, Technical Outlook
Overview and Market Sentiment:Gold has been in a powerful uptrend this year, with the current chart showing the continuation of bullish momentum following a classic bull flag pattern formation. As of September 2024, Gold futures are trading at $2,528.4, up by 0.15% for the session, and showing no signs of immediate weakness. The key technical Read More…
S&P 500 E-mini Futures (CME, Weekly Chart) Technical Analysis
Current Overview and Market Sentiment:The S&P 500 futures chart is showing signs of exhaustion after an impressive rally over the past two years. As we approach September 2024, the market is showing clear indications of bearish divergence, warning us of a possible trend reversal or significant correction in the coming weeks. Price Action: The S&P Read More…
Bitcoin Futures Technical Analysis (CME, Daily Chart)
Technical Analysis: Descending Channel: The primary structure in play is a descending channel, which has kept price action constrained between roughly $75,000 and $50,815. Until Bitcoin can decisively break out of this channel, the prevailing trend remains slightly bearish in the medium term but still bullish in th belong term. Potential Support Levels: Short-Term Outlook: Read More…
California Trader Conquers Funded Trader Program with Momentum Strategy
Introduction Meet Obafemi, a futures trader from San Jose, California, who successfully completed his OneUp Trader evaluation using a momentum trading strategy. Let’s learn more about this trader’s style, routine and why he chose the OneUp Trader funded trader program. Trading Approach Obafemi’s trading approach can be defined as momentum-driven. He identifies the market’s direction Read More…
E-mini Russell 2000 at pivotal technical level: bearish or bullish?
Introduction The E-Mini Russell 2000 Index Futures, often seen as a bellwether for small-cap stocks in the U.S. market, is currently positioned at a point where it could swing bullish or bullish with volatility. As all markets around the world continue to surge at a time when political and economic unease is high, technical analysis Read More…