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Kovach

Gold Running into ResistanceGold has retraced slightly from highs at 1982. This was the top of a dense patch of levels that began at 1962 or so. We are on the precipice of a vacuum zone to 1999, which is our target if we can break out. However, several red triangles on the KRI have confirmed prohibitive resistance for now. The Kovach OBV is still fairly strong, however, and has not dipped significantly despite the retracement. We should have strong support at current levels, but watch the vacuum zone below 1962 to 1936.
COMEX:GC1!Short
by quantguy
Ethereum Clings to $3KEthereum has edged up from the base of the $3K handle, but has faced strong resistance from $3148. This level, proximal to another strong level at $3200, was one which we identified and called out as a strong resistance level, unlikely to be broken unless momentum comes through. We are seeing multiple red triangles on the KRI confirming the resitance. However, $3042 does seem to be holding. We are testing this level at the time of this writing. Should it break, we will likely see further support at $2965, then $2852.
BITSTAMP:ETHUSDShort
by quantguy
Oil Stabilizes in the $100'sOil has broken through resistance in the low 100's including 100 and 101, but momentum has fizzled before reaching our next target of 106. It appears that we are feeling out the price territory between 101 and 106, a fairly vast vacuum zone. Watch for oil to remain range bound between 101 and 106 as it establishes value here. If strong buying or selling comes through, then we should have support below from 100 and 101, but if that does not hold, then 95.24 is a very strong level and relative low. We anticipate 92.03 to be a floor price. If we can break through 106, then 113 is our next target.
NYMEX:CL1!
by quantguy
Litecoin Gets a LiftLitecoin has found support at the base of the $100 handle as we anticipated. We are seeing somewhat of a relief rally at the moment, and appear to be making a run for $109. We are already seeing strong resistance as confirmed by red triangles on the KRI. But if we are able to break through then $111 and $114 are the next targets. If the rest of the crypto market serves as an indication, then we are likely to dump back to the base of the $100 handle where we are likely to find strong support for now.
BITSTAMP:LTCUSDShort
by quantguy
1
Another DUMP Coming for Bitcoin?? 😱Bitcoin has been wavering at the precipice of the $40K handle for some time. We appear to be forming a bear flag, and have very little buying interest. This set of factors does not bode well for the price. If we break down further, expect support $38.2K, or $37.7K. Long term, we could stand to press much lower before seeing any buying interest. If we do catch some momentum, then $45K is a nice target and our anticipated ceiling price for now.
BITSTAMP:BTCUSDShort
by quantguy
Can Ethereum Hold $3K??Ethereum has broken down briefly giving up the $3K handle. We have been noting weakness in the crypto markets for some time now, and anticipated support at $3K, which we saw. We did break into the upper $2K's, finding support at $2965 where support was confirmed by several green triangles on the KRI. However, we did not see much of a buyback which suggests that buyers are still not seeing the high $2K's as enticing. We are seeing strong support from $2965, but if we break lower, $2852 is the next target. We should see resistance at or around $3200 if we are able to pivot from current levels.
BITSTAMP:ETHUSDShort
by quantguy
Can Bitcoin Hold $40K??Bitcoin has taken another sharp turn lower in tandem with stocks. As discussed in the last report, we are currently seeing support at the base of the $40K handle, though we did break lower into the $39K's albeit briefly. We did see nice support from $39.2K, confirmed by a green triangle on the KRI. However, we are not seeing the buy back that we would expect if buyers were enticed by lower levels. In fact, we are seeing very little pivot and barely reclaimed the $40K's. If we do pivot from current levels, expect strong resistance in the $41K's. If we continue to dump, then $39.2K and $38.2K are likely targets.
BITSTAMP:BTCUSDShort
by quantguy
Can Gold Break Higher??Gold has tested higher levels after being confined between 1917 and 1936 for the past few days. We are still holding the broader range between 1895 and 1973 or so. Gold has taken an upswing, but is facing resistance from a dense patch of levels in this price territory. The Kovach OBV has upticked with the momentum, but it is doubtful that momentum is strong enough to break through these levels. In the event of a retracement, watch for support in the value area between 1917 and 1936. A full retracement could take us back to 1895. Otherwise, the next target is 1999.
COMEX:GC1!Short
by quantguy
1
Bitcoin Tests the Low $40K'sBitcoin has blasted through lower levels to find support around $42K exactly as we anticipated here in these reports. It plunged through support at $43.1K but so far, levels at $41K and $42K are holding. If more FUD comes through we anticipate $40K to be a floor for now. If we are somehow able to muster the strength for a rally then $43.1K and $43.8K are the next targets above. The Kovach OBV is pretty flat so we will need more momentum to come through for this to be the case.
BITSTAMP:BTCUSDShort
by quantguy
Can Stocks Hold Support?? 😳😦Stocks have retraced to support at 4462, a strong technical level which seems to be holding. We are hanging on by a thread and if we break down further, then 4440 is the next target after crossing the vacuum zone below. The Kovach OBV has slumped, suggesting momentum is nil and needs to pick up in order for us to see a breakout. If we are somehow able to break out, then 4580 is the next target which must be broken before we are able to hit higher levels.
FX:SPX500Short
by quantguy
1
Weakness Persists in LitecoinLitecoin dumped, but pivoted around $111, which we have added as a new technical level. From there, we edged higher, but faced steep resistance from $114 as confirmed by a red triangle on the KRI. The Kovach OBV is still quite bearish, as is the Chande, which suggests we might be reaching a bottom soon. However, don't be surprised if persistent weakness sets in and we test lower levels, including $111, $109 and at worst, $105. If we are somehow able to catch a second wind, then we must cross the vacuum zone above before hitting our next target of $120.
BITSTAMP:LTCUSDShort
by quantguy