Chinese New Year is coming so there will be a 1-2 week period where a significant segment of traders go away. Low volume environment could lead to melt-up or melt-down easily (see green zone). Moving average suggest 13-week ema could become potential resistance. Could see pinball action as market fights.
5 features in this chart define SiMSCI trend and risk-reward proposition for traders: 1) rising equidistant channel since late-2016 2) steep trend line from September 2017 3) February high 4) major 2015-top at 399 and lastly 5) rising month-month price action.
I can’t make up my mind about this chart. Technical analysis concepts do apply but fluctuations are just huge. Try to slice finely on very low time frame or go for broad strokes and be ready to deal with big P/L movement?
XLP retains it’s status as a leading bear sector in the US market. At the moment, moving averages, price action and chart pattern paint a bearish reversal setup. 1) Moving average dead cross. 2) Bearish expansion in January terminates last 4 quarters of higher lows. 3) Fallen out of equidistant channel.
USDCAD offers 5 price elements that strongly agree with each other. Combined, they offer a compelling high probability trade setup waiting for confirmation.
Simple forex analysis looking at AUDJPY for long side trade. Reasons #1 – 3 bullish channels, #2 – new 52-week high, #3, attractive positive swap for long position.
I posted a number of negative signals coming from forex, crude oil and then specific sectors in the US market i.e. Utilities and Energy, the last few days.. I see a confluence. Today I share a chart of the Straits Times Index for Singaporean readers.