Market Overview: EURUSD Forex The EURUSD Forex weekly candlestick was a EURUSD weak breakout from an OO (outside-outside) pattern. The bulls will need to create follow-through buying to increase the odds of a retest of the February high. The bears want a failed breakout above the OO pattern and a breakout below instead. They want a reversal […]
Crude Oil Failed Bear Breakout
Market Overview: Crude Oil Futures The Crude oil futures traded slightly lower but had no follow-through selling on the weekly chart, a Crude Oil failed bear breakout. The bears hope that the move is simply a breakout test of the 16-week trading range low (breakout point) and wants at least a small second leg sideways […]
Emini Weak Bull Follow-through
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly candlestick was a weak bull follow-through bar. The Emini is in a smaller 22-week trading range around 3750 and 4200. The market is currently trading around the middle of this range. Poor follow-through and reversals are hallmarks of a trading range. Traders will […]
Emini Futures Opened Lower but No Follow-through
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures opened lower but no follow-through selling. The bears hope that this week was simply a pullback and want another leg down forming the wedge pattern with the first two legs being March 2 and March 13. The bulls hope that the current pullback will […]
EURUSD OO Pattern but Dojis
Market Overview: EURUSD Forex The EURUSD Forex weekly chart formed an EURUSD OO pattern above the 20-week exponential moving average. So far, the bears have not yet been able to create follow-through selling below the 20-week EMA. The bulls want a second leg sideways to up but so far, have not yet been able to […]
Crude Oil Strong Breakout
Market Overview: Crude Oil Futures Crude oil strong breakout below the 16-week trading range. They want a measured move down to around 57 using the height of the 16-week trading range. The bulls want a failed breakout and a reversal back into the middle of the trading range from a lower low major trend reversal […]
Emini Big Outside Bear Bar
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly candlestick was a big outside bear bar, reversing down from a lower high major trend reversal. The bears want this to be the start of the bear leg testing the October low. The bulls hope that the current pullback will form a higher […]
Crude Oil Low 4 Sell Signal Triggered
Market Overview: Crude Oil Futures The Crude oil futures triggered the Low 4 sell signal on the weekly chart by trading below last week’s low. The bears will need to create follow-through selling to increase the odds of a retest and breakout below the 16-week trading range. The bulls need to break far above the […]
EURUSD Pullback Stalled at 20-Week EMA
Market Overview: EURUSD Forex The EURUSD Forex market pullback stalled at the 20-week exponential moving average (EMA) for the last 3 weeks. The bulls want a larger second leg sideways to up to retest February high from a higher low major trend reversal and a double bottom bull flag with January 6 low. The bears […]
Crude Oil Wedge Bull Flag but Trading Range
Market Overview: Crude Oil Futures The Crude oil futures weekly chart formed a Crude Oil wedge bull flag in a trading range. The weekly candlestick was a bull bar closing near the high. The bulls want a retest followed by a breakout above the 15-week trading range high. The bears got a reversal down from a wedge […]
