Market Overview: Crude Oil Futures The Crude oil futures was a failed breakout below September low. December traded far below Sept low and the bull trend line but reversed to close above it. The bears failed to get a follow-thorough bear bar. Bulls want a reversal higher from a lower low major trend reversal. Crude oil futures […]
Emini Outside Bear Bar, Micro Double Top
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures traded higher but reversed to close as an Emini outside bear bar. It formed a micro double top with Dec 1 high. The bears want this to be the start of a deeper pullback. Bulls want the pullback to form a higher low and reverse up […]
Crude Oil Inside Bull Bar, No Follow-through Selling
Market Overview: Crude Oil Futures The Crude oil futures was a Crude Oil inside bull bar on the weekly chart. The bears did not get follow-through selling this week. They hope the inside bull doji is a pullback and want another leg lower. The bulls want a breakout above the inside bull doji. They want a failed […]
EURUSD Weak Reversal Bar, Wedge Top
Market Overview: EURUSD Forex The EURUSD Forex market formed a EURUSD weak reversal bar as the weekly candlestick has a long tail above but a bull body. Bears want a pullback from the wedge top. They will need to create follow-through selling to increase the odds of a pullback. Bulls want the pullback to form a higher […]
EURUSD Doji Bar at Bear Trend Line
Market Overview: EURUSD Forex The EURUSD Forex traded higher but closed as a EURUSD doji bar at bear trend line. The bulls did not get follow-through buying. The bull needs to break far above the major bear trend line to increase the odds that the selloff has ended. The parabolic wedge increases the odds that we will […]
Crude Oil Breakout below Trading Range and Bull Trend Line
Market Overview: Crude Oil Futures Crude oil futures weekly candlestick was a breakout below trading range and the bull trend line closing near its low. The bears want a measured move down using the height of the September to November trading range which will take them to around $56. The bulls want a failed breakout below […]
Emini Start of Pullback from Wedge Bear Flag?
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bears hope that this week is the Emini start of pullback from the wedge bear flag. The weekly candlestick closed below last week’s low and the 20-week exponential moving average. They need to create a follow-through bear bar to increase the odds of lower prices. The […]
EURUSD Strong Bull Breakout above Inside Bar
Market Overview: EURUSD Forex The EURUSD Forex November candlestick was a EURUSD strong bull breakout above an inside bar. It closed back above the 7-year trading range low. The bulls need to break far above the major bear trend line and 20-month exponential moving average to convince traders that a reversal higher is underway. The […]
Crude Oil Outside Bear Bar, Lower Low Major Trend Reversal on Monthly
Market Overview: Crude Oil Futures The Crude Oil futures November candlestick was a Crude Oil outside bear bar with tails above and below. Bulls want a reversal higher from a lower low major trend reversal. The bears want a strong breakout below the 20-month exponential moving average and the major bull trend line with follow-through selling. Crude […]
Emini Consecutive Bull Bar after Wedge Bull Flag
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures November candlestick was an Emini consecutive bull bar following a wedge bull flag. The bulls will need to create another follow-through bull bar breaking far above the major bear trend line to increase the odds of higher prices. The bears hope that the current […]
