3 elements in EURJPY chart from May 2016 to 22 June 2018: A) up-equidistant channel B) down-equidistant channel and C) rising mid-extended trend line. Expect price action to test these elements in any order for support and resistance.
WTI printed new 52-week high this year, new high in 3.5 years so it could justify a long continuation trade despite its current correction. In this post, 3 charts of WTI with 3 potential support zones for WTI bulls.
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.