Market Overview: Crude Oil Futures The market formed a Crude oil higher low major trend reversal (December 16) relative to the April 9 low. Bulls need additional follow-through buying to increase the odds of a sustained move. Bears want the market to reverse from a double top bear flag (September 26 and January 29). Crude […]
Weekly EURUSD Wedge Top
Market Overview: EURUSD Forex The market formed the third push up this week creating the weekly EURUSD wedge top. Bears want a reversal from a wedge top (July 1, September 17, and January 27) and a trend channel line overshoot (January 27). Bulls need strong follow-through buying well above the September 17 high and the […]
EURUSD Bulls Want a Strong Breakout Above
Market Overview: EURUSD Forex The EURUSD bulls want a strong breakout above with sustained follow-through buying followed by a trend resumption. Bears want the December 24 or September 17 highs to act as resistance. If the market trades higher, they hope follow-through buying will be weak, resulting in a failed breakout above the September 17 […]
Crude Oil Bulls Need Strong Consecutive Bull Bars
Market Overview: Crude Oil Futures The Crude Oil bulls need strong consecutive bull bars closing near their highs and trading far above the October 24 high to increase the odds of a strong bull leg. Bears want another strong leg down from a large wedge bear flag (July 30, September 26, and January 14) and […]
Weekly E-mini Double Bottom Bull Flag
Market Overview: S&P 500 E-mini Futures The market formed a weekly E-mini double bottom bull flag (January 2 and January 20). Bulls need a strong breakout above with sustained follow-through buying above the January 12 high to increase the odds of a trend resumption. Bears see the reversal up this week as a retest of […]
E-mini Bulls Want a Strong Breakout Above
Market Overview: S&P 500 E-mini Futures The S&P 500 E-mini bulls want a strong breakout above to increase the odds of a trend resumption. Bears want the October 29 high area to act as resistance; if the market trades higher, they hope follow-through buying will be weak, resulting in a failed breakout. S&P500 E-mini futures […]
Crude Oil Major Lower High
Market Overview: Crude Oil Futures The market formed a Crude oil major lower high this week (January 14). Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear trend line to show they are regaining control. Bears want another strong leg down from a large wedge bear flag (July 30, […]
EURUSD Bears Need Follow-through Selling
Market Overview: EURUSD Forex The EURUSD bears need follow-through selling below the 20-week EMA and the November 5 low to demonstrate control. Bulls want the 20-week EMA to act as support, followed by at least a small sideways-to-up leg to retest the December 24 high. Bulls want a higher low relative to November 5 or […]
Weekly EURUSD Pullback to the 20-Week EMA
Market Overview: EURUSD Forex The market formed a weekly EURUSD pullback to the 20-week EMA. Bulls want the 20-week EMA to act as support, followed by at least a small sideways-to-up leg to retest the December 24 high. Bears need strong consecutive bear bars breaking well below the 20-week EMA to show control. EURUSD Forex […]
Crude Oil Outside Bull Bar
Market Overview: Crude Oil Futures The market formed a Crude oil outside bull bar on the weekly chart. Bulls need consecutive strong bull bars closing well above the 20-week EMA and the bear trend line to show they are regaining control. Bears want the 20-week EMA and the bear trend line to act as resistance. […]
