Market Overview: EURUSD Forex The weekly chart formed a EURUSD tight channel consisting of 10 consecutive bear bars. That means strong bears. Odds favor at least a small second leg sideways to down after a larger pullback. The bulls hope to get a reversal up from a parabolic wedge. EURUSD Forex market The Weekly EURUSD […]
EURUSD 9 Consecutive Bear Bars
Market Overview: EURUSD Forex The weekly chart formed a EURUSD 9 consecutive bear bars with many candlesticks closing near their lows. That means strong bears. The odds continue to slightly favor sideways to down. However, the move down has lasted a long time and is slightly climactic. A minor pullback can begin within a few […]
Crude Oil Strong Bulls
Market Overview: Crude Oil Futures The weekly chart formed another consecutive bull bar which means Crude Oil strong bulls. The market likely has flipped into Always In Long. The bears hope to get a reversal down from a large double top bear flag with November 2022 high. Crude oil futures The Weekly crude oil chart […]
Emini ii Pattern
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini ii pattern (inside inside). The market is in breakout mode. The first breakout from an inside bar can fail 50% of the time. Traders will see if the bears can get a breakout below with follow-through selling or will the market trade slightly […]
EURUSD Tight Bear Channel
Market Overview: EURUSD Forex The market formed a EURUSD tight bear channel which means strong bears. The market may still trade at least a little lower. If the bears continue to create strong consecutive bear bars trading far below the May and March low, it will increase the odds of the reversal being successful. Because […]
Crude Oil Tight Bull Channel
Market Overview: Crude Oil Futures The market formed a Crude Oil tight bull channel with some follow-through following last week’s breakout above the 41-week trading range. The bulls want a strong breakout above the trading range and a measured move based on the height of the 41-week trading range. The bears want a reversal down […]
Emini Bear Inside Bar
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini Bear Inside Bar which means the market is in breakout mode. The bears want a breakout below while the bulls want a breakout above the inside bar. The first breakout from an inside bar can fail 50% of the time. Sometimes, the candlestick […]
EURUSD Strong Bears
Market Overview: EURUSD Forex The weekly chart is in a tight bear channel which means EURUSD strong bears. Because of the strong move down, odds slightly favor a second leg sideways to down after a pullback. The bulls want a reversal up from a wedge bull flag. They will need to create strong bull bars […]
Crude Oil Follow-through Buying
Market Overview: Crude Oil Futures The market formed a Crude Oil follow-through buying on the monthly chart testing the 9-month trading range high. The bulls want a breakout above and a measured move-up. The bears want a failed breakout above the trading range and the beginning of the bear leg. Crude oil futures The Monthly […]
Emini Breakout Test
Market Overview: S&P 500 Emini Futures The monthly chart formed an Emini breakout test and a minor pullback. The bulls want a retest of the July 27 high followed by a breakout above. The next targets for the bulls are the March 2022 high and the all-time high. The bears want a reversal down from […]