Market Overview: EURUSD Forex The market is forming a EURUSD major lower high on the monthly chart relative to the January 2021 high. The bears want a reversal from a wedge top (April 21, July 1, and September 17). The bulls see the current move as a pullback in a developing bull trend and want […]
Crude Oil Is Trading in Area of Balance
Market Overview: Crude Oil Futures Crude Oil is trading in area of balance around the middle of the trading range. If the market trades higher, the bears expect sellers above the 5-bar bear microchannel, forming a double top bear flag with the August or July highs. The bulls will need consecutive bull bars breaking strongly […]
7-Bar E-mini Bull Microchannel
Market Overview: S&P 500 E-mini Futures The market is forming a 7-bar E-mini bull microchannel breaking above the 6900 level. The next targets for the bulls are the 7,000 and 7,100 levels. If there is a pullback, the bulls expect at least a small second leg sideways to up to retest the trend extreme high […]
E-mini Bulls Need Follow-through Buying
Market Overview: S&P 500 E-mini Futures The S&P 500 E-mini bulls need follow-through buying to increase the odds of reaching the measured move target above. The bears want a reversal from a wedge top pattern (May 19, Jul 31, and Oct 24). They need to create consecutive bear bars closing near their lows to show […]
Crude Oil Reversed to the Middle of Trading Range
Market Overview: Crude Oil Futures Crude oil reversed to the middle of trading range this week. The bears want a reversal from a large wedge bear flag (Jul 30, Sep 26, and Oct 24). The bulls need to create strong consecutive bull bars trading far above the 20-week EMA and the bear trendline to increase […]
EURUSD Pullback Is Stalling
Market Overview: EURUSD Forex The EURUSD pullback is stalling above the 20-week EMA currently. The bears need consecutive bear bars closing near their lows, breaking decisively below the 20-week EMA and the August 1 low, to increase the odds of a reversal. The bulls want the 20-week EMA to act as support, which it has […]
Weekly EURUSD Double Bottom Bull Flag
Market Overview: EURUSD Forex The marker formed a weekly EURUSD double bottom bull flag around the 20-week EMA. The bulls see the current move as a pullback and want it to be weak and sideways. They want the 20-week EMA or the August 1 low to act as support. The bears must create consecutive bear […]
Bears Want a Strong Crude Oil Bear Leg
Market Overview: Crude Oil Futures The bears want a strong Crude oil bear leg to test the trading range low (Apr 9). They must continue to create follow-through selling to increase the odds of testing the trading range low. The bulls hope the lower third of the large trading range will act as support. They […]
No E-mini Follow-through Selling
Market Overview: S&P 500 E-mini Futures There was no E-mini follow-through selling on the weekly chart, closing as an inside bull doji. The bears must create consecutive bear bars closing near their lows to show they are back in control. The bulls want the pullback to be weak and sideways followed by a retest and […]
E-mini Bears Need Follow-through Selling
Market Overview: S&P 500 E-mini Futures The S&P 500 E-mini bears need follow-through selling on the weekly chart, something they couldn’t do since the April low. If the market trades lower, the bulls want the 20-week EMA or the September 2 low area to act as support. S&P500 E-mini futures The Weekly S&P 500 E-mini […]
