Market Overview: EURUSD Forex The monthly chart formed a EURUSD triangle. The bulls need to create a follow-through bull bar in June to increase the odds of higher prices. If the market trades higher, the bears want a reversal from a double top bear flag with the March 8 high. EURUSD The Monthly EURUSD Forex […]
No Weekly EURUSD Follow-through
Market Overview: EURUSD Forex There was no weekly EURUSD follow-through bull bar following last week’s close above the 20-week EMA. The bulls need to create follow-through buying trading above the 20-week EMA to increase the odds of retesting the December high. The bears see the recent moves simply as a deep pullback and want at least a small […]
Crude Oil OO Pattern
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil OO pattern (outside-outside) which means the market is in breakout mode. Crude Oil is currently trading around the middle of the large trading range, which is an area of balance. The overlapping price action in the last 3 weeks also indicates that the market is in a tight trading range. Crude oil futures The […]
No Weekly Emini Follow-through
Market Overview: S&P 500 Emini Futures There was no weekly Emini follow-through buying following last week’s breakout above the March 21 high. The bulls see this week simply as a pullback and want the market to continue higher. The bears want a reversal from a higher high major trend reversal or a double top with the March 21 high. […]
Weekly EURUSD Lower High
Market Overview: EURUSD Forex The market traded higher and is currently at a weekly EURUSD lower high. The bulls need to create follow-through buying following this week’s close above the 20-week EMA. The bears hope that the bear trend line will act as resistance. If the market trades higher, the bears want a larger double top bear flag with the March […]
Crude Oil stalled
Market Overview: Crude Oil Futures Crude Oil stalled at the bull trend line in the last 2 weeks. The bears want at least another sideways to down leg, completing the third push down (wedge) with the first two legs being April 22 and May 8. The bulls want a reversal from a wedge (Apr 22, May 8, and May 15), […]
Emini New All-Time High
Market Overview: S&P 500 Emini Futures The market traded higher and formed an Emini new all-time high this week. The bulls want a strong a strong breakout above the March 21 high followed by the start of a larger broad bull channel phase. The bears want a reversal from a higher high major trend reversal or a double top with the March 21 high. At the very least, they […]
EURUSD Middle of the Trading Range
Market Overview: EURUSD Forex The market is currently trading around the EURUSD middle of the trading range which can be an area of balance. The bears want the 20-week EMA to act as resistance followed by at least a small retest of the April 16 low. The bulls need to create consecutive bull bars closing […]
The Bears Need a Crude Oil Breakout
Market Overview: Crude Oil Futures The bears need a Crude Oil breakout below the bull trend line to increase the odds of the bear leg beginning. The bulls want a retest of the April 12 high after the current pullback, even if it forms a lower high. They want the 20-week EMA or the bull trend line to […]
Emini Retest of the March High
Market Overview: S&P 500 Emini Futures The weekly chart is forming an Emini retest of the March high. The bulls want a strong retest of the March 21 high followed by a strong breakout above, starting the larger bull channel phase. The bears want at least a small second leg sideways to down after the current pullback, even if it forms […]
