COFFEE has reached a confluence of strong support lines, so I am looking for a long opportunity. Now, we can see that there has been a breakout of the downwards channel resistance upwards This breakout was also a breakout of the neckline of the reverse head and shoulders pattern. Now, we are waiting for the 4h candle to close ABOVE the neckline and we are going...
Yesterday S&P 500 futures (ES) had another up day with relatively low volume. Currently it is testing the gap resistance between 3310–3340. The character of the current movement is similar to what happened in Nov 2019, where S&P 500 inched up gradually with low supply level and low volatility until Jan 2020. Will that happen again? Check out the video for a...
Gold video analysis. XauUsd Precious Metals Futures Market
Support is $319 Resistance is $323. one of these levels will break this week. $319 is also the neckline for the H&S. if $319 breaks then first PT will be $316 (intraday) If $323 breaks then first PT on that will be $325. Trade smart.
A nice trade overnight based on the footprints the market had built. I'm looking for yesterdays weak high to be taken out and then see if the sellers can push back at that point. If not we are probably looking at all time highs again, but I would be cautious as we have not really done anything other than go back to the high of the value from September 4- End...
Got some relief and found buyers before we could hold below 2920. Next stop, IMO, is 2950. Weak high overnight shows that we are most likely to continue higher.
Some great clarity from only looking at one chart. Some key areas above at 50 and below at 20. Stay out of the noise.
Status quo for this market, continue to move higher and then balance. This is telling us that we are unlikely finished moving higher just yet. I would'nt expect to see a reversal on this low volume from the overnight session.
Markets continue to trend up and we had a nice orderly auction yesterday, falling into a previous balance before bouncing. I would highly advise against going short here, today is options expiration and while it may work to be short, it's a low probability play.