Market Overview: Crude Oil Futures The Crude oil futures formed a follow-through bull bar on the weekly chart. The bulls hope that this is the start of the bull leg to retest the April high. The bears want the 20-week exponential moving average and the bear trend line to act as resistance. They want the […]
EURUSD Weak PB to 20-Week EMA
Market Overview: EURUSD Forex The EURUSD Forex formed a weak PB (Pullback) to the 20-week exponential moving average. The bulls see the pullback as forming a micro wedge. This week’s bull bar closing near its high is a buy signal bar for next week. The bears hope that the recent rally was simply a deep […]
EURUSD No Follow-through Selling
Market Overview: EURUSD Forex There was no follow-through selling on the weekly EURUSD Forex chart. The bulls want another leg up, completing the wedge pattern. The bears failed to create follow-through selling again in June. They are not as strong as they hope to be. If the current pullback remains weak (with overlapping bars, doji(s) […]
Crude Oil Bull Inside Bar & Trading Range
Market Overview: Crude Oil Futures The Crude oil futures monthly candlestick was a bull inside bar with a long tail above. The bulls want a breakout above while the bears want a breakout below June’s range. The first breakout from an inside bar can fail 50% of the time. Reversals and poor follow-through are common […]
Emini Big Bull Bar Closing above August High
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures monthly candlestick was a big bull bar closing above August high. The bulls need to create a follow-through bull bar in July to confirm the breakout. The bears want a failed breakout above the August high and a reversal down from a double top […]
Emini Minor Pullback
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed a minor pullback on the weekly chart following the trend channel line overshoot. The bulls want at least a small second leg sideways to up retesting the current leg extreme (June 16) after the current pullback. The bears want a failed breakout above […]
Crude Oil Tight Trading Range
Market Overview: Crude Oil Futures The Crude oil futures formed a 7-week tight trading range. The bulls did not get sustained follow-through buying this week and the weekly candlestick reversed into a bear bar. The bears will need to create follow-through selling next week to increase the odds of retesting the May 4 low. Crude […]
EURUSD Pullback or LH MTR?
Market Overview: EURUSD Forex The EURUSD pullback on the weekly chart following last week’s close above the 20-week exponential moving average. The bulls did not get a follow-through buying. They hope that this week is simply a pullback and want another leg higher after the pullback. The bears want a reversal down from a lower […]
EURUSD Bull Follow-through
Market Overview: EURUSD Forex The EURUSD Forex weekly candlestick formed a bull follow-through bar trading far above the 20-week exponential moving average. The bulls want a retest of the April high and a breakout above. The bears hope that this week was simply a deep pullback (bounce) and want a retest of the May 31 […]
Crude Oil HL MTR (Higher Low Major Trend Reversal)
Market Overview: Crude Oil Futures The Crude oil futures formed a HL MTR (Higher Low Major Trend Reversal) pattern on the weekly chart. The market traded lower but the bears failed to get follow-through selling. Poor follow-through and reversals are common within a trading range. The bulls need to create a follow-through bull bar next […]
