Hard time for shorts again. Every dip is bought. We haven't tagged the 50 EMA for days.
I want to prepare you that on this 4 hrs chart we will test back the 100 EMA and maybe break marginally below it.
So most probably on Monday or Tuesday we will stop a little bit and come back to the 100 EMA before we enter the 48-52 area to print the daily cycle high.
I want to prepare you that on this 4 hrs chart we will test back the 100 EMA and maybe break marginally below it.
So most probably on Monday or Tuesday we will stop a little bit and come back to the 100 EMA before we enter the 48-52 area to print the daily cycle high.
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So we are tagging the 50 EMA on the hourly.I'm looking for a reversal candlestick now.
Someone asked me I don't think we are in an ascending wedge. It's a channel (green)
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We might had finished the correction at the 100 EMA.USA futures are the key now (S&P; NAsdaq, Dow) they are in positive territory .
If stocks are heading to the all time highs nothing will stop oil to go to 48-50$.
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4hrs chart 50 EMA (green) is the main support now.If we close below this we will be heading to the daily 200 EMA.
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On the hourly chart the 200 EMA is the support (blue)I don't think we break down here from the descending channel...
We will be heading up in the next hours. Hopefully break out of the channel at the next tag.If not we will break later.
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Sorry for the typos. I'm trying to post fast...Note
Every instrument is waiting for the USD to bottom in the panic selling phase. Once it's done stock will move up, gold down, oil up etc.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.