Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil pullback closing as a bear bar with a prominent tail below. The bears will need to create consecutive bear bars closing near their lows to convince traders that they are back in control. If the market trades lower, the bulls want the 20-week […]
Emini Profit Taking
Market Overview: S&P 500 Emini Futures The market has entered an Emini profit-taking and pullback phase. The bears want at least a second leg sideways to down after a pullback. The bulls hope to get at least a small retest of the prior trend extreme high (Mar 21), even if it only leads to a […]
Disappointing EURUSD Follow-through selling
Market Overview: EURUSD Forex The bears got a disappointing EURUSD follow-through selling on the weekly chart. They hope that this week was simply a pullback and hope to get at least a small second leg sideways to down. The bulls want a reversal from a higher low major trend reversal, a larger wedge bull flag […]
EURUSD Breakout Below
Market Overview: EURUSD Forex The weekly chart formed a EURUSD breakout below the triangle pattern and the small trading range. The bears need to create follow-through selling next week to increase the odds of a retest of the larger trading range low (October low). The bulls want a reversal from a higher low major trend […]
Crude Oil Pullback?
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil pullback, closing as a bear doji following last week’s breakout above the bull channel. The bears want a failed breakout above the bull channel and a reversal from a wedge pattern. If the market trades lower (pullback), the bulls want the 20-week EMA […]
Emini Consecutive Bear Bar
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini consecutive bear bar, something that has not happened since October 2023. The bulls want to get at least a small retest of the prior trend extreme high (Mar 21), even if it only leads to a lower high. The bears need to continue […]
Stronger Crude Oil Buying Pressure
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) […]
No EURUSD Breakout below the Triangle
Market Overview: EURUSD Forex On the weekly chart, there was still no EURUSD breakout below the triangle. The bulls want a reversal from a double bottom bull flag (Feb 14 and Apr 2) or a wedge bull flag (Dec 8, Feb 14, and Apr 2). The bears hope that this week was simply a pullback […]
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 […]