Market Overview: Crude Oil Futures The market formed a Crude Oil trend channel line overshoot, closing as a bear doji with a long tail below. The bulls hope to get a reversal from a higher low major trend reversal. The bears hope that the bear leg to retest the May low has begun. Crude oil […]
EURUSD Bulls Need Follow-through
Market Overview: EURUSD Forex The EURUSD bulls need follow-through buying to increase the odds of a retest and breakout attempt above the trading range high. The bears hope that the current move is simply a deep pullback and want a reversal from a wedge bear flag or a lower high major trend reversal. EURUSD Forex […]
Emini Follow-through Bull Bar
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini follow-through bull bar closing above the 20-week EMA and the October high. The bulls need to continue creating follow-through bull bar trading above the bear trend line to increase the odds of a retest of the July 27 high. The bears want the […]
EURUSD Double Bottom Bull Flag
Market Overview: EURUSD Forex The monthly chart could be forming a EURUSD double bottom bull flag (Jan 6 and Oct 3). The bulls want November to be a bull bar closing near its high. The bears will need to create a breakout below the trading range low with follow-selling to increase the odds of a […]
Crude Oil Two-Legged Pullback
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil two-legged pullback, closing below the 20-week EMA. The bears need to create follow-through selling below the 20-week EMA to increase the odds of a reversal lower. The bulls want a reversal up from a double bottom bull flag (Oct 6 and Nov 3). […]
Emini Climactic Reversal
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini climactic reversal reversing half of the whole move down within a week. The bulls need to create follow-through buying next week to increase the odds of higher prices. The bears hope that this week was simply a 50% pullback and wants a larger […]
Crude Oil Second Leg Down
Market Overview: Crude Oil Futures The weekly chart formed a larger Crude Oil second leg down. The bears need to create follow-through selling to increase the odds of a deeper pullback. The bulls want a reversal from a double bottom bull flag and for the 20-week EMA to act as support. Crude Oil futures The […]
Emini Wedge
Market Overview: S&P 500 Emini Futures The weekly chart formed the third leg down, an Emini Wedge. The market also broke below the trend channel line. The bulls want a reversal up from a wedge bull flag. However, they will need a strong reversal bar or a micro double bottom before they would be willing […]
EURUSD Double Top Bear Flag?
Market Overview: EURUSD Forex The market is forming a EURUSD double top bear flag (Oct 12 and Oct 24) on the weekly chart. The bears need to create follow-through selling to increase the odds of a retest and breakout attempt below the October 3 low. If the market trades lower, the bulls want a final […]
EURUSD Final Flag?
Market Overview: EURUSD Forex The weekly chart traded sideways in the last 3- to 4-weeks, potentially forming a EURUSD final flag. The bulls need to create consecutive bull bars trading far above the bear trend line to increase the odds of a larger pullback. The bears want the pullback to remain sideways and weak which […]