Market Overview: Crude Oil Futures The bears want a strong Crude oil bear leg to test the trading range low (Apr 9). They must continue to create follow-through selling to increase the odds of testing the trading range low. The bulls hope the lower third of the large trading range will act as support. They […]
Weekly EURUSD Double Bottom Bull Flag
Market Overview: EURUSD Forex The marker formed a weekly EURUSD double bottom bull flag around the 20-week EMA. The bulls see the current move as a pullback and want it to be weak and sideways. They want the 20-week EMA or the August 1 low to act as support. The bears must create consecutive bear […]
Large Weekly EURUSD Double Bottom Bull Flag
Market Overview: EURUSD Forex The market is forming a large weekly EURUSD double bottom bull flag (Aug 1 and Oct 9). The bulls want the 20-week EMA or the August 1 low to act as support. The bears must create consecutive bear bars closing near their lows, breaking far below the 20-week EMA and the […]
Crude Oil Breakout From the Trading Range
Market Overview: Crude Oil Futures Crude Oil breakout from the trading range this week and the bears need follow-through selling. They want a measured move based on the height of the recent trading range, which will take the market to the $55 area. The bulls need to create strong bull bars trading above the 20-week […]
E-mini Bears Need Follow-through Selling
Market Overview: S&P 500 E-mini Futures The S&P 500 E-mini bears need follow-through selling on the weekly chart, something they couldn’t do since the April low. If the market trades lower, the bulls want the 20-week EMA or the September 2 low area to act as support. S&P500 E-mini futures The Weekly S&P 500 E-mini […]
Monthly EURUSD Wedge Pattern
The market formed a monthly EURUSD wedge pattern (Apr 21, Jul 1, and Sept 17). The bears want the bear trend line and the upper third of the multi-year trading range to be areas of resistance. The bulls want a retest of the September 17 high, even if it only forms a lower high. If […]
Monthly Crude Oil Trading Around the Middle of Trading Range
The monthly Crude Oil trading around the middle of trading range (20-month EMA) for the last few months. The bears need to create follow-through selling below the 20-month EMA to increase the odds of testing the trading range low. The bulls view the current move as a pullback and want it to form a higher […]
6-Bar E-mini Bull Microchannel
The market formed a 6-bar E-mini bull microchannel on the monthly chart. The next targets for the bulls are the 6900 and 7000 levels. If there is a pullback, they hope to get at least a small second leg sideways to up to retest the trend extreme high (now Oct 3). The bears want a […]
Minor EURUSD Pullback
Market Overview: EURUSD Forex The market is forming a minor EURUSD pullback on the weekly chart. The bears must create consecutive bear bars closing near their lows, breaking far below the 20-week EMA, to increase the odds of a reversal. The bulls want the 20-week EMA or the August 1 low to act as support, […]
No Weekly Follow-through Selling in Crude Oil
Market Overview: Crude Oil Futures There was no weekly follow-through selling in Crude oil futures and the market reversed above the 20-week EMA. The bulls must create strong follow-through buying above the 20-week EMA and the bear trend line to show they are back in control. The bears view the current move as a pullback, […]
