Techncial recap Take a moment to review the analysis from June 12th here. The gap we analyzed has been filled perfectly, and an immediate bullish reversal followed. Now, bulls are pushing price up above the horizontal resistance line and attempting to break above the ascending triangle once more. Technical analysis Moving Averages: The 50 MA is sitting Read More…
Technical analysis MACD Divergence: This is the main focal point for our Gold analysis this week. It shows strong bullish divergence on the daily time frame. This is a signal that short trades are likely better to be ignored for now. It is not a direct signal to take longs though, we may see price Read More…
Recap On June 15th, we set our target for the Euro for a price of $1,104. This target was hit last Thursday as 6E rallied 3.6% from its recent low. The question is whether we see a higher chance this resistance zone will be broken to the upside or if the bears will push 6E Read More…
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…
