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GER30: Thoughts and AnalysisToday's focus: GER30 Pattern – LH - Lower support test Support – 15,055 - 15,015 Resistance – 15,287 - 15,504 Hi, and thanks for checking out today's analysis. The GER30 daily is today's focus. Due to the tragic events over the weekend, we have seen stock futures trading lower into the new week. The GER30 is testing Friday's firm finish and could be forming a new lower high. The key here will be if sellers can be price back down to test 15,055 - 15,015 support. A break set up a continuation of the med-term downtrend. If buyers can reject today's selling and break back above Friday's high, this could suggest a new higher leg and a possible test of 15,504. Good trading.
GShort
by Eightcap
DXY/USD ~ Flat Bottom Pattern + Inverse H&S (15min)TVC:DXY developing flat bottom pattern after rejecting upper parallel channel + potential inverse H&S pattern, TBC. Inverse H&S Playbook (Long): - Break above 200MA/38.2% Fib/descending trend-line confluence - Reject 50% Fib/overhead supply (white box) confluence then bounce off 38.2% Fib to create the "Right Shoulder" - Re-test & break (hold) above overhead supply confluence to activate inverse H&S pattern - TP 1st target = ~107.70-108 21st Nov 2022 wick top/supply (red box) Inverse H&S breakout also coincides w/ break above ascending parallel channel. Flat Bottom Bear Break Playbook (Short): - Break below horizontal "Flat Bottom" line to re-test middle trend-line (dark blue/dashed) - Failed re-test of Flat Bottom &/or middle trend-line validates Bearish price action - Moving averages (esp. 200MA) act as dynamic resistance, pushing price action towards lower parallel channel - TP 1st target = ~106-105.70 (green box)
TVC:DXY
by BlueHatInvestor
2
ASX200: Thoughts and AnalysisToday's focus: ASX200 Pattern – Support/ Regular Divergence Support – 6885 Resistance – 7000 - 7070 Thanks for checking out today’s update. Today, we have run over ASX200, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. Interest today starts from the support hold we are watching from 6885. This lines up with the bottom of the overall range. We can also see regular divergence forming with price holding at this support point. This could set off a new rally that could get back up to test 7000. If this level of support breaks and price closes below, this could break the range and set off a new overall downtrend. Are stocks a bit oversold at this point? Keep in mind we have US employment data due out this Friday. Have a great day and good trading.
EIGHTCAP:ASX200Long
by Eightcap
Crude Oil ~ 4H Swing V2 (Sept-Oct)Updated 30/09/23: - Revised up-trending parallel (green) - Added down-trending/consolidation parallel (white) - Added horizontal lines (yellow/dashed) to mark upper/lower range (94.239-87.829) Everything else stays the same (chartist holy grail lol). Notes: - Further write-up on Daily Swing V2 Chart - Faded out longer TF parallel lines (light blue) TradingView has a sh*tty chart bug where any trend-lines drawn on longer TF become misaligned when you switch to shorter TFs. Temporary workaround = set "Opacity" on affected lines to "0%" before publishing & restore afterwards so you don't have to manually erase/re-draw...just remember where you drew them to begin with lol.
CAPITALCOM:OIL_CRUDE
by BlueHatInvestor
Crude Oil ~ Daily Swing V2 (Sept-Oct)Updated 30/09/23: - Revised up-trending parallel (green) - Added down-trending/consolidation parallel (white) - Added horizontal lines (yellow/dashed) to mark upper/lower range (94.239-87.829) Everything else stays the same (chartist holy grail lol). CAPITALCOM:OIL_CRUDE has done an amazing job respecting its upward parallel channel since June. Could see period of consolidation (foreshadowed by prev price action) into lower trend-line before deciding whether to push higher towards Golden Fib (break upper trend-line), or capitulate to global recession fears & collapse towards 200DMA/23.6% Fib, TBC. Price action would be biased towards upside given OPEC+ bullish manipulation, however OPEC+ would also be hyper-vigilante on excessive Crude Oil prices which could threaten demand destruction - hence why they opted to review production cuts on a monthly basis to maintain price/economic stability.
CAPITALCOM:OIL_CRUDE
by BlueHatInvestor
UK100: Continuation watchToday's focus: UK100 Index Pattern – Continuation Pattern Support – 7629 - 7588 Resistance – 7720, 7916 Thanks for checking out today's update. Today, we have run over UK100, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis. The primary focus of today's look at the UK100 is the current uptrend, forming a new higher low in today's session. This continues to push the case for a new leg high from buyers. Resistance at 7720 is the first big test, and if we can see a new move up, this level needs to be cleared to break the current range. If today's fightback from 7629 support fails, we could see a move that may try to retest the range base. We will be watching Price and mainly Buyers over the next several sessions to see if we get a breakout. Good trading.
U
by Eightcap