Market Overview: EURUSD Forex EURUSD consecutive bear bar on the weekly chart. It is the start of the pullback. The first targets for the bears are the 20-week exponential moving average and the January 6 low. The bulls want any pullback to be sideways and not deep. They want weak bear bars with long tails […]
Crude Oil 12-Week Trading Range
Market Overview: Crude Oil Futures The Crude oil futures is in a 12-week trading range on the weekly chart. Poor follow-through and reversals are more likely within a trading range. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction. Markets have inertia and tend to continue to do what […]
EURUSD Outside Bear Reversal Bar
Market Overview: EURUSD Forex The EURUSD Forex candlestick on the weekly chart was an outside Bear Reversal Bar closing near the low. The wedge pattern and loss of momentum (smaller bull bodies) increase the odds that at least a small pullback may have begun this week. The bulls want any pullback to be sideways and […]
Crude Oil Bear Breakout
Market Overview: Crude Oil Futures Crude oil bear breakout below the inside bar on weekly chart. The odds slightly favor Crude Oil to trade at least a little lower, possibly testing near the 11-week trading range low. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction from the trading […]
Emini Broke above December High
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures broke above December high this week, which the bulls hope was the last major lower high, thereby ending the bear trend of successively lower highs and lower lows. While some traders may view the December high as a major lower high, the bears want […]
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 […]
Crude Oil Bear Inside Bar
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 […]
EURUSD Wedge and Micro Wedge
Market Overview: EURUSD Forex The EURUSD Forex formed a wedge and micro wedge on the weekly chart. However, the bears are still weak and need to do more to convince traders of a pullback or a reversal. The bulls want any pullback to be sideways and not deep. If the pullback is weak and sideways, […]
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 […]