Technical Analysis If we zoom out on the daily chart, there is a clear break of trend that has occurred after the high was put in at $4600. Since then there were two new lower lows formed on the daily chart, which I circled on the chart below, and the RSI confirmed both of them Read More…
Technical analysis RSI: The RSI was oversold a few days ago but has pumped out of the zone and went from a reading of 22 to a reading of 57 in the space of 3 days. This could be a move that is too powerful in the short term, so we can expect some consolidation Read More…
Introduction Last Week, 6E closed with a green bullish hammer on the weekly chart after 10 out of 11 red weeks. A huge decline in value for the Euro. The selling in the Euro has been volatile, with every buy getting sold heavily into. The bears have been in control primarily because the Dollar has Read More…
Technical Analysis ES has been in an uptrend this year, and after a sizeable pullback of 8.8% from the recent local top, it appears that the low might be in and could be the opportunity that bulls have been waiting for. Yesterday (Monday, October 10) price action formed a morning star candlestick pattern, and if Read More…
Recap The last time we looked at the US Dollar (DXY), we noticed the strong price action and bullish up trend. Before we look at the new developments in the Dollar, let’s understand what it means for us as traders and investors. A stronger Dollar typically has an inverse relationship with gold, crude oil, and Read More…
Quick Recap Last week, we looked at Gold, and the bearish stance we took has proven to be correct, as the $1,831 target has been hit. Unfortunately, however, it was a difficult short trade to take because GC only painted red candles after the analysis, thus giving us no entry on a retracement. Moving forward, Read More…
