Market Overview: DAX 40 Futures DAX futures moved up again this week, so we are always in long at the 20-Week Moving Average (MA.) It has been an extended bear trend down to the lows of the COVID breakout, and we are testing the breakout on October 28th, 2020. We have retraced 2 years of […]
FTSE 100 Trapped Bulls and Open Gaps
Market Overview: FTSE 100 Futures The FTSE futures market moved higher last week with trapped bulls and open gaps low in a trading range. The bulls see a second entry long at the bottom of a trading range and a failed breakout below the 7000 big round number. The bears see a tight bear channel and […]
Nifty 50 Futures Big Head and Shoulders
Market Overview: Nifty 50 Futures Nifty 50 on the weekly chart forming a big head and shoulder pattern and currently market going sideways and forming a triangle (right shoulder). Aggressive traders would go long before a triangle breakout as this is also a head and shoulder. The market on the daily chart is forming a […]
Nasdaq 100 Successive Weekly Bull Close above Prior Bar High
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market is attempting a reversal up from the October low. It is the first successive bull close above prior week high since the last bull leg that started in July. As mentioned in the report two weeks back, the market is likely making its way […]
EURUSD H2 Buy Signal, Need Follow-through
The EURUSD Forex bulls triggered the H2 buy signal on the weekly chart. Next week, the bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears hope that the current pullback is simply forming a double top bear flag with October 4 high. The bear trend line and 20-week exponential moving average are resistances above.
Crude Oil No Follow-through bear bar
The Crude oil futures traded lower but the bears failed to get a follow-through bear bar and the market closed as a bull doji. The bears hope that this week was simply a pullback and want a second leg sideways to down to re-test the September low. The bulls want a second leg sideways to up re-testing October 7 high. Bulls will likely attempt to trigger the High 2 buy signal by trading above this week’s high.
Emini Triggered H2 Buy Signal but Trading Range
The S&P 500 Emini futures triggered the H2 buy signal on the weekly chart. The bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears want a reversal lower from a double top bear flag with Oct 5 high or around the bear trend line. The Emini is forming a small trading range around the June low between 3500 and 3800. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.
Nifty 50 Futures Triangle
Market Overview: Nifty 50 Futures Nifty 50 futures triangle on the weekly chart is a breakout mode pattern. Traders would prefer to wait for the breakout before taking any position. The overall weekly chart is in a big trading range so traders should not prefer to hold trades for too long with big targets. Nifty […]
Emini testing 50% pullback of October 18 rally
Trading Update: Friday October 21, 2022 Emini pre-open market analysis Emini daily chart The market is testing a 50% pullback of the rally to the October 18 high. The bulls will try their best to get a reversal up here and the bears want the day to close on its low, below the 50% pullback […]
Emini Bulls want breakout above neckline
Trading Update: Thursday October 20, 2022 Emini pre-open market analysis Emini daily chart Yesterday ended, the four-bar bull micro channel and closed as a doji bar. The bulls saw yesterday as a High 1 buy setup. However, the bar is a doji bear near resistance, top of the trading range, and the October 5 high. […]