Market Overview: EURUSD Forex The market formed a monthly EURUSD tight trading range with candlesticks that are overlapping with alternating bull and bear bodies. The bulls hope to get another leg up breaking above the triangle to retest the December 28 high. The bears hope that the 20-month EMA and the bear trend line will act as […]
Weekly EURUSD Pullback
Market Overview: EURUSD Forex The market formed a weekly EURUSD pullback, testing near the 2-week EMA. The bears need to create follow-through selling next week (preferably closing below the 20-week EMA) to increase the odds of a deep pullback. The bulls want at least a small second leg sideways to up to retest the July […]
Weekly Crude Oil Pullback
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil pullback testing the middle of the trading range. The bears need to create a follow-through bear bar to increase the odds of testing the bottom of the triangle. The bulls see the current move simply as a pullback and want at least a […]
Weekly Emini Follow-through Selling
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini follow-through selling testing the bull trend line. The bulls want the pullback to form a higher low followed by a resumption of the broad bull channel. The bears want a TBTL (Ten Bars, Two Legs) pullback trading far below the 20-week EMA. At […]
Emini Start of a Pullback
Market Overview: S&P 500 Emini Futures The weekly candlestick was a big outside bear bar possibly indicating an Emini start of a pullback. The bears want a TBTL (Ten Bars, Two Legs) pullback trading far below the 20-week EMA. The bulls want the pullback to form a higher low followed by a resumption of the […]
Weekly Crude Oil Follow-through Selling
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil follow-through selling on the weekly chart. The bears want a reversal from a lower high major trend reversal, a double top bear flag (Apr 12 and Jul 5) and from around the top of the large triangle pattern. The bulls hope that the […]
EURUSD Bear Doji
Market Overview: EURUSD Forex The weekly candlestick was a EURUSD bear doji testing the triangle top. The bears want a reversal from a wedge bear flag from around the top of the triangle pattern. If there is a pullback, the bulls want at least a small second leg sideways to up to retest the current […]
Weekly EURUSD Follow-through buying
Market Overview: EURUSD Forex The market formed a weekly EURUSD follow-through buying trading above the 20-week EMA. The bulls need to create a breakout above the June high and the triangle with follow-through buying to increase the odds of a retest of the trading range high (Dec 28). The bears want a reversal from a […]
Weekly Crude Oil Bull Leg
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil bull leg in the form of a 5-bar bull micro channel. The bulls want a retest of the July 5 high and hope to get a strong breakout above the triangle pattern. The bears want a reversal from a lower high major trend […]
Weekly Emini Embedded Wedge
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini embedded wedge in the third leg up (May 23, Jun 28, and Jul 12). The bulls hope that the rally will lead to months of sideways to up trading (broad bull channel). The bears want a reversal from a higher high major trend reversal, a wedge pattern […]
