Like most markets around the world at the moment, US equities are on a tear, especially after the rate data yesterday. It is really difficult to find a bearish opportunity in this market, which points us in the direction of ‘the trend is your friend’. Daily Chart:The market is trading within a rising channel, showing Read More…
Daily Chart:A potential reversal candle is forming after the recent downturn we have seen in Bitcoin. The Awesome Oscillator shows a decrease in momentum, highlighted by the shrinking green bars turning red. BTC has been on a tear, up over 50% for the year. A pullback was going to come eventually but the question is Read More…
Weekly Chart Analysis:ES is trading above its weekly pivot point, with immediate support at 4492.00 USD. The RSI is in the overbought territory, showing strong bullish momentum. The next resistance levels are R1 at 5169.50 USD and R2 at 5519.00 USD. Daily Chart Analysis:A potential bearish divergence is creating some worry for bulls as the Read More…
Crude Oil Weekly Chart The weekly shows significant support around the $67 level, which has been tested multiple times since mid-2021, establishing it as a ‘Huge Support’ zone. The volume profile on the left shows a lot of trading activity around these levels, painting the point of control within that support zone. Bears have not Read More…
Bitcoin Futures continue to fly as the cryptocurrency has secured a position among the top assets in the world. The recent move above $69,435 has traders considering the possibility of an extended rally, potentially reaching the Fibonacci extension level of $102,975, which may be the next cycle high. The Relative Strength Index on the daily Read More…
The U.S. Dollar Index is forming a converging pattern on the weekly chart, suggesting a potential breakout could happen soon. This pattern is known as a symmetrical triangle, and it often leads to significant price movements after a period of consolidation following an upward move. Weekly Looking at the weekly chart, the DXY is in Read More…
