Market Overview: Crude Oil Futures The Crude oil futures weekly candlestick was a Crude Oil bear inside bar sitting under the 10-week trading range high, 20-week exponential moving average and the bear trend line. Bulls need to break far above these resistances to increase the odds of higher prices. The bears want a retest and breakout below […]
Emini Retesting December High
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly candlestick was a bull bar retesting December high. It was also a breakout above the bear trend line. The bulls will need to create follow-through buying over the next several weeks. Bears see the selloff from January 2022 as a broad bear channel […]
EURUSD Small Bull Doji, Wedge Top
Market Overview: EURUSD Forex The EURUSD Forex was a small bull doji on the weekly chart. Bulls want an endless small pullback higher. If there is a pullback, they want the pullback to be sideways and shallow. The bears want a reversal lower from a wedge top. EURUSD Forex market The Weekly EURUSD chart The Daily EURUSD […]
Crude Oil 9-Week Trading Range
Market Overview: Crude Oil Futures The Crude oil futures market is in a 9-week trading range. This week was a breakout above the inside bull bar, but Crude Oil is sitting just under the 9-week trading range high, 20-week exponential moving average and bear trend line. The bulls will need to break far above these […]
Emini 5-Bar Bull Micro Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly chart is in a 5-bar bull micro channel. The bulls see this week as a pullback and want another leg higher testing the December high. Bears want a reversal down from a lower high major trend reversal. S&P500 Emini futures The Weekly S&P 500 Emini […]
Emini Second Leg Up, Retest December High?
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bulls got an Emini second leg up and want a retest of the December high. They see the last 6 months as an inverted head and shoulders bottom. Odds slightly favor the Emini to trade at least a little higher. The bulls need to break far […]
Crude Oil No Follow-through Selling
Market Overview: Crude Oil Futures There was no follow-through selling in the Crude oil futures market. The weekly candlestick was an inside bar closing near its high. Odds slightly favor a breakout above the inside bar. Traders will see if the bulls can create follow-through buying and a breakout above the 8-week trading range. Crude […]
EURUSD Wedge Top but Tight Bull Channel
Market Overview: EURUSD Forex EURUSD wedge top formed but the rally is in a tight bull channel. The bear bars are weak and had no follow-through selling. Bears need to do more to convince traders that a pullback/reversal is imminent. Odds slightly favor EURUSD to trade at least a little higher. EURUSD Forex market The […]
EURUSD Weak Bear Bar, Need Follow-through
Market Overview: EURUSD Forex The EURUSD Forex was a EURUSD weak bear bar on the weekly chart. The bears want this to be the start of a two-legged sideways-to-down pullback. They will need to create follow-through selling next week. The bulls want any pullback to be sideways and not deep. EURUSD Forex market The Weekly EURUSD chart […]
Crude Oil Third Leg Down?
Market Overview: Crude Oil Futures The Crude oil futures traded lower and traders are wondering if it is forming a third leg down with the first two legs being Sept 26 and Dec 9. The bulls want a reversal higher from a double bottom with the December low. Crude Oil could be forming a trending trading range […]
