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…
Investors await US inflation data. Inflation in the US is expected to go down to 8.1% year-over-year. Markets have priced in a 92% chance of a 75bps Fed rate hike. E-mini S&P 500 (ES) futures extended gains on Tuesday as investors anticipated critical inflation data that could offer hints regarding the size and pace of 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…
A bullish breakout has occurred above the minor consolidation zone Bearish and Bullish Targets Clearly Defined A Gap opens at $12,349.25 Bullish Breakout The minor consolidation referenced in our previous technical outlook has been broken to the upside and is trading above the Fibonacci 50% level. For Bulls, the next target to watch is the 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…
