Market Overview: EURUSD Forex EURUSD bull micro channel (7 bars) formed on the weekly chart. That means strong bulls. Odds slightly favor buyers below the first pullback below such a strong bull micro channel. The bears hope that the move up is simply a buy vacuum test of the February 2 trading range high. The bears […]
Crude Oil 6-Month Trading Range
Market Overview: Crude Oil Futures The Crude oil futures continue to trade sideways forming a 6-month trading range. The bulls want a retest and breakout above April 12 high. If the market trades lower, the bulls want a reversal up from a higher low major trend reversal. The bears want a follow-through bear bar in […]
Emini Consecutive Bull Bars Close above EMA
Market Overview: S&P 500 Emini Futures S&P 500 Emini futures April candlestick consecutive bull bars close above the 20-month exponential moving average (EMA). Monday is the first trading day of the month. The market may gap up at the open, creating a gap on the Monthly, Weekly and Daily charts. Small gaps usually close early. The […]
Emini 6-Bar Bull Micro Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed a 6-bar bull micro channel on the weekly chart. That means strong bulls. The bulls want a strong breakout above February 2 high completing the wedge pattern with the first two legs being December 13 and February 2. The bears hope that the […]
Crude Oil Minor Pullback
Market Overview: Crude Oil Futures Crude oil minor pullback formed on the weekly chart, partially closing the gap. The bulls expect at least a small second leg sideways to up after the current pullback. The bears need to create follow-through selling to increase the odds of the start of the bear leg within the trading […]
EURUSD Inside Doji Bar, Tight Bull Channel
Market Overview: EURUSD Forex EURUSD inside doji bar and tight bull channel formed on weekly chart which means strong bulls. The bulls want a strong breakout above the February 2 high and another strong leg up. If there is a pullback, odds slightly favor buyers below the first pullback from such a strong bull micro channel. […]
EURUSD Tight Bull Channel
Market Overview: EURUSD Forex EURUSD tight bull channel up formed testing the February 2 high. The bulls have a 5-bar bull micro channel which means strong bulls. Odds slightly favor buyers below the first pullback from such a strong micro channel. The bears want a reversal down from a higher high major trend reversal, but […]
Crude Oil Follow-through Buying
Market Overview: Crude Oil Futures The Crude oil futures bulls got follow-through buying this week following last week’s close above the 20-week exponential moving average. The bulls want a strong breakout above the 16-week trading range. The bears want the market to stall around the trading range high. If there is a breakout above, the […]
Emini Strong Bull Leg
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed a strong bull leg up from the March 13 low. The bulls have a 5-bar bull micro channel which means strong bulls. Often, there are buyers below the first pullback from such a strong bull micro channel. The bears want a reversal down from a […]
Crude Oil Gap Up Bull Doji
Market Overview: Crude Oil Futures Crude oil gap up above the 20-week exponential moving average on the weekly chart and formed a bull doji. The bulls need to create a strong breakout above the trading range high with follow-through buying to increase the odds of a reversal up. The bears want the market to stall […]
