Technical analysis Volume: The Wyckoff volume has dipped slightly, with te average at 334,780 contracts traded per day, down from 381,900 contracts per day back in April. Support Zone: There is a support zone at $68.01 which continues to attract buyers. There is high demand at this price level, and it will take a big effort Read More…
A fresh look at the technicals Ascending Triangle: There is an ascending triangle on the daily chart. This tells us that the market is forming a bullish bias. Price is currently testing the diagonal support line at 127’27. Capitulation Candle: There was a capitulation with a high volume spike at the low I pointed to on the Read More…
Recap On June 12th, we analyzed the ascending triangle formation on the daily chart in the Dow Jones futures. You can view that article here. YM gapped up on June 9th and continued to rally while it tested the horizontal resistance level at $34,221. The bulls have failed on this attempt, so there are some short-term Read More…
Technical Recap The last time we did technicals on NQ was June 9th. Bulls looked steadfast on hitting the 78% Fib level at $15,147, which has officially happened. The Nasdaq rallied 8% since June 9th, and doesn’t look like it’s slowing any time soon. Targets From here, there is very little evidence for a bearish Read More…
Update On May 29th, we looked at the inverse head and shoulders breaking out of the neckline. Today we look at how that trade is going and what bulls could do to manage their position moving forward. ES has surged through the neckline, now up 7.5% from the last technical article we did. Bulls are firmly in Read More…
Recap Our GC analysis has been spot-on since the start of these articles, and last week was no different. Today we will take a look at how the trade ideas from last week are coming into play today. Read the previous article here. Technical analysis 100-Day MA: Price is bouncing off the 100-MA on the daily. It Read More…
Bulls take control In the previous analysis I did on 6E, I mentioned the possibility of a bullish reversal. That has now been confirmed with strong bullish price action. The trade was a high-risk, potentially high-reward play, but it is working out at the moment. Take a look at the previous article here and the chart below: Read More…
Parabolic curve The parabolic curve on the daily chart for CL has been our main focus point for most of the crude oil analysis this year. It stretches back to July of last year and still remains a strong formation. Price is currently sitting at $70 per barrel, and bears are still unable to push Read More…
Technical analysis Like all other US indices, YM has been surging on the back of strong US data. The Dow Jones is currently testing the horizontal resistance level of an ascending triangle formation on a daily time frame. The question is whether bulls will be strong enough to be able to push price through current Read More…
Price action If we look at the weekly time frame, the chart almost looks vertical. NQ has rallied hard, with big tech stocks like Apple hitting new all-time highs. It shows you that even in an environment of high-interest rates, the market can still do strange things. Sticking to technicals is the way forward. Weekly Read More…
