Market Overview: Crude Oil Futures The Crude Oil bulls need follow-through buying trading back above the 20-week EMA. They want the bull leg within the trading range to begin. The bears want the bear trend line or the 20-week EMA to act as resistance. Crude oil futures The Weekly crude oil chart The Daily crude […]
Weekly EURUSD Micro Wedge
Market Overview: EURUSD Forex The market formed a weekly EURUSD micro wedge around the November 6 high. The bears must create strong follow-through selling to increase the odds of a deep pullback. The bulls want any pullback weak and sideways (overlapping candlesticks, doji(s), bull bars). EURUSD Forex market The Weekly EURUSD chart The Daily EURUSD […]
EURUSD Bulls Want Follow-through Buying
Market Overview: EURUSD Forex The EURUSD bulls want follow-through buying to retest the top of the trading range (Aug/Sep highs). The bears hope the market will stall around the middle of the trading range and form a lower high. The move is strong enough for traders to expect at least a small second leg sideways […]
Weaker Crude Oil Bear Leg
Market Overview: Crude Oil Futures The market formed a weaker Crude Oil bear leg testing the November low area. The bears hope to get a retest of the November 18 low followed by a breakout to test the trading range low. The bulls hope the November low area or the lower third of the trading […]
Weekly Emini Parabolic Wedge
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini parabolic wedge (Feb 28, Mar 7, and Mar 13). The bulls see the market as being in a broad bull channel and want the pullback to form a higher low. If the market trades higher, the bears want the January 13 low, the […]
Weekly EURUSD Bull Leg
Market Overview: EURUSD Forex The weekly chart formed a weekly EURUSD bull leg trading back into the trading range. The bulls hope to get follow-through buying to retest the top of the trading range (Aug/Sep highs). The bears hope that the middle of the trading range or the November 6 high will act as resistance. […]
Crude Oil Large Second Leg Sideways to Down
Market Overview: Crude Oil Futures The market formed a Crude Oil large second leg sideways to down on the weekly chart. The bears must continue to create follow-through selling to increase the odds of breaking below the November 18 low. The bulls hope the lower third of the trading range will be an area of […]
Weekly Emini Bear Breakout
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini bear breakout below the 23-week trading range. The bulls want a reversal from a double bottom bull flag (Jan 13 and Mar 7) or a wedge bull flag (Nov 4, Jan 13, and Feb 28). The bears must create follow-through selling following this […]
Monthly Emini Trading Range
Market Overview: S&P 500 Emini Futures The market has formed a monthly Emini trading range in the last 5 months. The bulls want a breakout into new all-time highs followed by a measured move based on the height of the 5-month trading range. The bears must create credible selling pressure (strong bear bars with follow-through […]
Crude Oil Weak Bear Channel
Market Overview: Crude Oil Futures The market is forming a Crude Oil weak bear channel on the weekly chart (overlapping ranges and consecutive doji bars). The bears must continue to create follow-through selling to increase the odds of testing the November 18 low area. The bulls want the 20-week EMA and the middle of the […]
