Introduction We looked at the break out in RTY two weeks back, and now, the daily chart is forming a pennant chart pattern. The penant formation is a high probability chart pattern that can lead to a big swift move initially which is why we think we could see RTY break its ATH next week or the Read More…
Equities rose slightly on Monday and Tuesday as investors mostly stayed on the sidelines ahead of major events. Markets await key US data, major US tech earnings reports, and the Federal Reserve policy meeting. US earnings index (Source: Citigroup, Bloomberg) Monday was a choppy session for US stocks because investors held off on big positions. Read More…
Market Overview As of July 30, 2024, the E-mini Dow Jones Futures are trading at 40,788. We’ve seen a consistent uptrend over the past few months, marked by higher highs and higher lows. The price action is currently hovering around a significant resistance level which is the previous ATH, testing the 40,800 zone. At the Read More…
Price Action and Trend NQ, like all other equity markets, has been in a strong uptrend since October 2023. However, we’ve recently seen a sharp pullback from the all-time high of around 20,983.00, and now could be the time to look to take long positions. Support and Resistance Moving Averages The price is currently between Read More…
Weekly Chart I have put a volume profile indicator onto last weeks trading which is shown in the weekly chart below. Price is sitting now just above the support where last weeks candle closed. The Point of control line is holding the price up for now and after the recent dip in the US equity Read More…
Technical Analysis Trend and Moving Averages: The RSI is also at oversold territory adding further fuel to the possibility of a price pump from here. Technical Patterns Support and Resistance Levels: Trade Opportunities Long Position Given the RSI at oversold and the price at the lower Bollinger Band, a high-probability trade setup for a long Read More…
