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 […]
Nasdaq 100 Bull Leg Pausing at Weekly EMA
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market is in a trading range with bull leg pausing at the weekly exponential moving average (EMA). The question is how high will the bull leg be? The January monthly bar so far is a good bull reversal bar. A couple of problems for bulls: […]
FTSE 100 Double Top in Trading Range or Pullback
Market Overview: FTSE 100 Futures The FTSE futures market formed a FTSE 100 double top high in a trading range last week, or is it a pullback? The bulls had a tight bull channel, so they expected a second leg after a corrective move sideways to down. It is likely we will test the breakout point […]
DAX 40 Bull Streak, High in Trading Range
Market Overview: DAX 40 Futures DAX futures have been on a DAX 40 bull streak high in a trading range. Traders will expect the pullback to be minor, but the risk is large for bulls who, up until now, have been buying above bars. The bears see the streak as a bull leg in a […]
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 […]
Nifty 50 Futures Inside Bar
Market Overview: Nifty 50 Futures Nifty 50 futures inside bar on the weekly chart after a bear breakout below a higher high double top neckline. Bears would be exiting now and bulls would be buying, so traders would be expecting one leg up. Nifty 50 on the daily chart is forming a breakout triangle (a […]
Nifty 50 Futures Wedge Bottom
Market Overview: Nifty 50 Futures The Nifty 50 on the weekly chart is forming a Nifty 50 futures wedge bottom and trading range price action, with increasing bad follow-through bars and increasing tails above and below bars. The market is also forming reversal patterns which is a sign that market is in a trading range phase. […]
Nifty 50 Double Top and Increased Trading Range Action
Market Overview: Nifty 50 Futures A Nifty 50 double top formed on monthly chart and showed increasing trading range price action after the breakout of the small bear channel. Market is trading in the current range for the last 10 months now. Nifty 50 on the weekly chart has filled the breakout gap, so now less […]
Nifty 50 Futures Breakout Gap Open
Market Overview: Nifty 50 Futures The Nifty 50 on the weekly chart has a breakout gap open, which acts like a magnet. This week gave a bear bar closing near its low, and now we have 2 consecutive bear bars closing near their lows, which increase the chances of at least one more leg down. Nifty […]
EURUSD Consecutive Bear Bars below 7-Year Trading Range
The EURUSD Forex monthly candlestick was a consecutive bear bar below the 7-year trading range low. The long tails below July and August candlesticks indicate that the bears are not as strong as they could have been. Bears want a breakout below the 7-year trading range low followed by a measured move down based on the height of the 7-year trading range which will take them to the year 2000 low. The bulls want a reversal up from a trend channel line overshoot and parabolic wedge (November 24, May 13 and August 23).
