Market Overview: Crude Oil Futures The bulls managed managed to create consecutive bull bars closing near their highs which means stronger Crude Oil buying pressure. They want a retest of the trading range high (Sept 28). The bears need to create consecutive bear bars closing near their lows to convince traders that they are back […]
Emini Overlapping Price Action
Market Overview: S&P 500 Emini Futures The weekly chart indicates a loss of momentum since February with the Emini overlapping price action. Traders will see if the bears can create follow-through selling following this week’s bear bar. If a pullback begins, the bulls want it to be sideways and shallow, filled with bull bars, doji(s) […]
Crude Oil Bull Leg
Market Overview: Crude Oil Futures The weekly chart is in a persistent bull channel which could be the start of the Crude Oil bull leg to retest the trading range high. The bears will need to create sustained follow-through selling closing below the 20-week EMA but they have not yet been able to do so. […]
EURUSD Consecutive Doji
Market Overview: EURUSD Forex The monthly chart formed a EURUSD consecutive doji in the middle of the trading range. The market is in an area of balance. The bulls want the 20-month EMA or the bull trend line to act as support. The bears hope that March was simply a pullback which formed a lower […]
Emini 6-Bar Bull Micro Channel
Market Overview: S&P 500 Emini Futures The monthly chart formed an Emini 6-bar bull micro channel which means strong bulls. Odds slightly favor buyers below the first pullback. The bears want a failed breakout above the all-time high and a reversal from a higher high major trend reversal. While a minor pullback can come at […]
EURUSD Lower High
Market Overview: EURUSD Forex The pullback which started in February formed another EURUSD lower high major trend reversal. The bears want a reversal from the upper third of the large trading range and a breakout below the large triangle pattern. The bulls want the 20-week EMA or the bull trend line to act as support. […]
Crude Oil Weak Bull Channel
Market Overview: Crude Oil Futures The weekly chart is in a Crude Oil weak bull channel. The bulls need to create a strong breakout trading far above the January high to increase the odds of a retest of the trading range high. The bears see the recent sideways to up pullback as forming a wedge […]
Emini Breakout above the ioi Pattern
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini breakout above the ioi pattern. The bulls need to create follow-through buying to confirm the breakout above. The bears hope that the sideways tight trading range (the ioi pattern) will be the final flag of the rally. S&P500 Emini futures The Weekly S&P […]
Emini ioi Breakout Mode
Market Overview: S&P 500 Emini Futures On the weekly chart, the market has been stalling in the last 3 weeks by trading sideways and forming an Emini ioi breakout mode pattern (inside-outside-inside). The bulls want a breakout above, while the bears want a breakout below the inside bar. The first breakout can fail 50% of […]
No Follow-through Selling in Crude Oil
Market Overview: Crude Oil Futures There was no follow-through selling in Crude Oil on the weekly chart, forming an outside bull bar closing near its high. If the bulls can create more follow-through buying, it can swing the odds in favor of the bull leg beginning. The bears see the recent sideways to up pullback […]