The Ichimoku cloud indicator, also called the Ichimoku Kinko Hyo, is arguably one of the most versatile technical indicators. At first glance, it may appear convoluted and probably hard to understand, especially due to the several components. However, its greatest advantage is that it combines backward and forward-moving averages to determine an asset’s trend, momentum, Read More…
Prices rally to trade within the consolidation zone Price potentially targeting the 50 Moving Average on daily time frame. Daily Trend The daily chart shows a steady downward trend since June with prices bouncing predictably within a channel as shown in our analysis below. The market could be targetting the 50 moving average where we Read More…
Prices rally through minor resistance 38% Fibonacci target level reached Bullish Engulfing Candle forms on the Weekly Chart Bullish Weekly Engulfing Candle Last week’s trade saw a bullish engulfing candle close on NQ after three consecutive weeks of red candles. The entire candle has traded below and above the previous week’s trading range and closed Read More…
The consolidation zone is broken to the downside Four consecutive red candles forms on the monthly chart Bears targetting $78.49 Monthly Candles September candle has opened red, forming the fourth monthly red candle in a row so far. We can connect a trend line from the November 2nd low to the December 1st low, which Read More…
Major Support Zone Proving to be strong on the Daily chart Downtrend Channel on the 2-hourly chart Potential 1-2-3 Reversal pattern on Daily Chart What Has Happened? Since August 31, we expected some strong support around the $1,715.3 level; we have seen that play out now with bids coming in the past week as the Read More…
Head and shoulders (H&S) target hit RSI indicates selling pressure is weakening Cautiously bearish on NQ Refer to our analysis on August 30 for a detailed explanation of the Head and Shoulders (H&S) pattern formed on NQ which has been met. Normally, these patterns may get very close to the full target before consolidating or Read More…
