Market Overview: Crude Oil Futures The weekly Crude oil bears want a second leg down following this week’s pullback. Bears need consecutive strong bear bars breaking below the December 16 low to increase the odds of another strong leg down. Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear […]
Weekly EURUSD 6-Bar Bull Microchannel
Market Overview: EURUSD Forex The market formed a weekly EURUSD 6-bar bull microchannel indicating persistent buying. There could be buyers below the first pullback. Bulls need a strong retest and breakout above the September 17 high to resume the bull trend. Bears need strong consecutive bear bars breaking well below the 20-week EMA to demonstrate […]
Weekly EURUSD 5-Bar Bull Microchannel
Market Overview: EURUSD Forex The market formed a weekly EURUSD 5-bar bull microchannel from the November 21 low. If the market trades lower, bulls want the 20-week EMA to act as support, followed by at least a small sideways-to-up leg to retest the December 16 high. Bears view the current bounce (Dec 16) as a […]
Crude Oil Large Wedge Bull Flag
Market Overview: Crude Oil Futures The market formed a Crude oil large wedge bull flag within the trading range. Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear trend line to show they are gaining control. Bears need consecutive strong bear bars breaking below the October 20 low to […]
Weekly E-mini Second Leg Sideways to Down
Market Overview: S&P 500 E-mini Futures The market formed a weekly E-mini second leg sideways to down, testing near the 20-week EMA. Bears need strong follow-through selling trading below the 20-week EMA to show they are in control. Bulls want the 20-week EMA to act as support, forming a wedge bull flag, with the first […]
Weekly E-mini Bears Need Follow-through Selling
Market Overview: S&P 500 E-mini Futures The weekly E-mini bears need follow-through selling following this week’s outside bear bar. They are looking for a second leg sideways to down to retest the November 21 low. If the market trades lower, bulls want the 20-week EMA to act as support, forming a wedge bull flag, with […]
Crude Oil Bears Need Follow-through Selling
Market Overview: Crude Oil Futures The Crude oil bears need follow-through selling breaking below the October 20 low to increase the odds of another strong leg down. Bulls see the current move as a retest of the prior low (Nov 25) and want it to form a small double bottom (Nov 25 and Dec 11) […]
Weekly EURUSD Bulls Need More Follow-through Buying
Market Overview: EURUSD Forex The weekly EURUSD bulls need more follow-through buying to increase the odds of trend resumption. Bulls expect the 20-week EMA and the November low to act as support, forming a large double bottom bull flag (Aug 1, Nov 5) and a wedge bull flag (Sep 25, Oct 9, Nov 5). Bears […]
EURUSD Broke Above the Bear Trendline
Market Overview: EURUSD Forex The EURUSD broke above the bear trendline this week. Bulls now need additional follow-through buying, trading clearly above the 20-week EMA and the bear trendline, to raise the odds of trend resumption. Bears see the current pullback (bounce) as forming a double top bear flag (Nov 13 and Dec 4) and […]
Weekly Crude Oil Bulls Need Strong Follow-through Buying
Market Overview: Crude Oil Futures The weekly Crude oil bulls need strong follow-through buying closing far above the 20-week EMA and the bear trendline to show they are taking control. If the market trades higher, bears want the 20-week EMA and the bear trendline to hold as resistance, forming another major lower high. Crude oil […]
