The drop The Dollar has fallen much of the year, with the greenback being down over 12% from the October 2022 high. The first low ($100.8) for the support zone was made in February, and price hasn’t broken below that level since. Technical analysis First of all, the support zone is holding the Dollar up Read More…
Technical Analysis
E-mini S&P 500 futures (ES) gearing up for bullish break
Overview ES has been stuck in a tight consolidation since the beginning of April. There was a steep move up just before the consolidation phase started, which leads me to believe we could be preparing for a bullish breakout. The range is between $4,062.75 and $4,210.75. The rally prior resembles a poll, so what we Read More…
Gold futures (GC) short trade update as price falls
Recap Two weeks ago, we looked at the candlestick that formed on the daily chart in GC, which eventually closed as a spinning top at the top of an up trend. It signals to us that there is much confusion in the market when a candlestick like this forms, and this gave us a short Read More…
Nasdaq futures (NQ) show signs of bearish divergence
Technical analysis RSI: The rsi is the indicator showing bearish divergence in the daily chart. Looking at the chart below, the divergence is strong, and this tells us that we shouldn’t consider taking long positions. Squeeze: The price action has been squeezing toward the top of the recent move. This indicates less buying pressure is present, and Read More…
Euro FX futures (6E) stall as resistance band forms
Technical analysis MACD: The MACD is in the red on the daily chart showing some divergence. The buying pressure is weakening and is being translated for us easily in the MACD histogram. Price: The Euro has begun to for a rolling over pattern as it struggles to break above 1.106. We can see from the chart that Read More…
Huge spinning top has bulls singing in CL futures
Technical analysis CL remains within the range we have been monitoring in almost every article this year made on crude futures. This range refuses to be broken in either direction. We can keep the technical analysis very simple with this trade as a huge spinning top has formed at the bottom of a 3-week sell-off. Read More…