Market Overview: EURUSD Forex The monthly chart formed a weak EURUSD breakout below the trading range with limited follow-through selling. The bears hope to get at least a small sideways to down leg to retest the recent leg extreme low (Jan 13). The bulls want a breakout above the 2-month trading range followed by a […]
Weekly EURUSD Bulls Need Follow-through Buying
Market Overview: EURUSD Forex The weekly EURUSD bulls need follow-through buying and a breakout above the January 27 high trading far above the bear trend line and the 20-week EMA to increase the odds of the bull leg beginning. The bears want a reversal from a double top bear flag (Jan 27 and Feb 14), […]
Crude Oil Bears Want a Breakout
Market Overview: Crude Oil Futures The Crude Oil bears want a breakout below the February 18 low followed by another strong leg down to test the November low area from a wedge bear flag (Feb 3, Feb 11, and Feb 20). The bulls hope to get a retest of the January 15 high from a […]
Weekly Emini LH MTR
Market Overview: S&P 500 Emini Futures The bears want a weekly Emini LH MTR (lower high major trend reversal). They must create follow-through selling trading below the 20-week EMA and the bear trend line to show they are back in control. If the market trades lower, the bulls want the 20-week EMA or the bull […]
Weekly Emini Retest of All-Time High
Market Overview: S&P 500 Emini Futures The market s forming a weekly Emini retest of all-time high. The bulls want a breakout into new all-time highs followed by a measured move based on the height of the 21-week trading range. The bears want a reversal from a double top (Dec 6 and Jan 24) and […]
Crude Oil Bears Want a Strong Bear Leg
Market Overview: Crude Oil Futures The Crude Oil bears want a strong bear leg to retest the November low area. They need to create a follow-through bear bar following this week’s close below the 20-week EMA. The bulls need to create strong bull bars closing near their highs to show that they are back in […]
EURUSD Bulls Need a Breakout
Market Overview: EURUSD Forex The EURUSD bulls need a breakout above the January 27 high with follow-through buying trading far above the bear trend line and the 20-week EMA to increase the odds of the bull leg beginning. The bears ope the 20-week EMA and the bear trend line will act as resistance. EURUSD Forex […]
EURUSD Retest January Low
Market Overview: EURUSD Forex The EURUSD retest January low this week but lacked follow-through selling. The bulls see the current move (Feb 3) as a retest of the prior trend’s extreme low and want a higher low major trend reversal. If the market trades higher, the bears want the 20-week EMA to act as resistance. […]
Weekly Crude Oil Bear Leg
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil bear leg testing the middle of the trading range. The bears want a strong bear leg to retest the bottom of the trading range. The bulls want a small sideways to up leg to retest the recent leg extreme high (Jan 15), even […]
Weekly Emini Weak Pullback
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini weak pullback to the 20-week EMA. The bulls want a breakout into new all-time highs followed by a measured move based on the height of the recent 20-week trading range. The bears must do more to show that they are back in control. […]
