Recap Last week we looked at the great example of the 1-2-3 reversal playing out on the CL daily chart. Opec announced an output cut shortly after the analysis, which assisted the price action of CL to further confirm the pattern. Where to from here? CL is in a bullish trend at the moment, but Read More…
Technical analysis E-mini S&P 500 (ES) futures have been reacting in a bullish manner to a large inverted head and shoulders pattern, with bulls now targeting completion of the pattern with targets set at $4660.25. Price has tested the neckline multiple times and acted as a strong support which ES has finally springboarded off of. Read More…
Update from last week Last week we analyzed CL and mentioned that there was a chance we could see price drop a few points from $71 before rallying once more above the recent peak, as seen in the chart below. This is exactly what occurred and is a perfect example of a 1-2-3 reversal entry. Outlook Read More…
Quick Update Last time we looked at Yen futures was back on March 2nd. The sentiment has drastically changed since then as US data has cooled and the collapse of SVB. Bulls have enjoyed the recent rally, but the steam is running out, and those who have missed the initial move may see another opportunity soon Read More…
Bulls target $13,500 Nasdaq Futures have been on an uptrend since September 2022, with bulls targeting $13,500 as the 50% Fibonacci retracement level. The current price stands at $12,800, indicating a potential upside of nearly 5% from current levels. The Relative Strength Index (RSI) has been printing higher highs since September 2022, indicating the strength Read More…
Technical analysis Price action: There is a strong band of support that has formed at the $1,738 level, which was our previous bearish target. It is all the 0.78 Fibonacci level. The candlesticks show strong bullish sentiment as every time price dips below $1,738, it gets bid back up. This can be seen by the multiple wicks Read More…
