Introduction This is a follow-up to the 6 July analysis, where the call was for a shallow pullback after the breakout to new highs, with 52,500 and the 50-day MA flagged as the levels to watch for a bullish reaction. That’s largely played out — price pulled back after tagging the low-53,000s, held above 52,500, Read More…
Equities fell on Monday as tensions in the Middle East worsened after the US announced it would reinstate its blockade on Iranian shipping. As a result, oil prices jumped, and expectations of a Fed rate hike increased. At the same time, market participants are looking forward to the US CPI report coming out later in Read More…
Introduction NQ closed at red to start the week off, below its 50-day moving average (29,801.12) for the first time since this leg of the rally began. Price also dipped as low as 29,303.25 intraday, testing the rising trendline off the recent triangle before bouncing back. Combined with a bearish MACD reading, this is the Read More…
Introduction Nikkei futures printed a sharp reversal day today on Monday the 13th of July, opening at 69,070, pushing up to 69,225, then selling off hard to close at 67,355 near the session low. That’s a wide-range bearish candle after a strong multi-month uptrend, and it’s testing the 50-day moving average at the moment. Looking Read More…
Featured Snippet: What Are Trend Lines in Trading? Trend lines are lines drawn on a price chart to show the direction of a market. They connect key highs or lows and act as support or resistance levels. Traders use trend lines to identify trends, spot entry points, and anticipate potential reversals or breakouts. More importantly, Read More…
Introduction S&P 500 futures are retesting the underside of their June swing high after reclaiming the 50-day moving average on the pullback. Price is currently at 7,581.25, just below the 7,650 area that capped the rally in early June. It is an important zone now, there are some flags forming on lower time frames, so Read More…
