Market Overview: Crude Oil Futures The Crude oil futures formed a crude oil bear leg testing the March low. The bulls hope that the move is simply a sell vacuum and wants a reversal higher from a double bottom and a lower low major trend reversal. The bears want a strong breakout below the March […]
Nifty 50 Trading Range Most Likely
Market Overview: Nifty 50 Futures Nifty 50 trading range most likely. This week’s market produced a bullish close; but, the bull bar’s small body and short top tail indicate that a small pullback is likely. On the weekly chart, the Nifty 50 is still trading inside the tight bull channel. The market recently has not created […]
FTSE 100 Bull Flag, LH DT, High in Trading Range
Market Overview: FTSE 100 Futures The FTSE futures market formed a FTSE 100 bull flag with a lower high double top (LH DT). The price moved lower, but the tails tell us bears were scalping and ran into the scale-in bulls. After a strong micro channel, traders bought below the low and will buy 50%, expecting […]
Emini Likely to Disappoint Bulls Soon
Trading Update: Tuesday April 11, 2023 S&P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday’s Emini setups Al created the SP500 Emini charts. Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a […]
EURUSD Bull Leg in Trading Range
Market Overview: EURUSD Forex EURUSD bull leg currently forming in a trading range. Traders will BLSH (Buy Low, Sell High) within a trading range until there is a strong breakout from either direction with follow-through buying/selling. The bulls want a strong breakout above the February high. The bears want a reversal lower from a double top […]
Crude Oil Gap Up Bull Doji
Market Overview: Crude Oil Futures Crude oil gap up above the 20-week exponential moving average on the weekly chart and formed a bull doji. The bulls need to create a strong breakout above the trading range high with follow-through buying to increase the odds of a reversal up. The bears want the market to stall […]
EURUSD Overlapping Candlesticks
Market Overview: EURUSD Forex The EURUSD Forex monthly chart has 3 overlapping candlesticks. That means that the EURUSD is in a trading range. The bears failed to get follow-through selling in March. The bulls need to create a follow-through bull bar trading above the February high to increase the odds of another leg higher. EURUSD […]
Nasdaq 100 Weekly EMA Acting as Support
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market had a big bull surprise bar closing above last week’s bear bar and above the monthly exponential moving average (EMA), with weekly EMA acting as support. The market has completely reversed the big bear bar of last week and is back near the high […]
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 […]
