we are close to the RSI resistance level so I am expecting a reversal at Fibo ratio 78.6%
Wave analysis shows we are at the end of the correction in teh 1-2-1-2 structure. you can consider buying after the end of the c wave correction
The major support / resistance level at 34 held with bullish formations currently visible on all time frames, brent futures are up and "LONG" is written all over PMO! My first target is at ~43p level. Mid term we will most likely see a new maximum (since March) at about 60p. The 50 EMA should cross the 200 EMA within days confirming the end of June / July...
When the SP started moving up and broke into LEVEL 2 (+ positive OIL news) hit ~34 and was rejected. Then we had a clear inverse head & shoulders LONG pattern but were rejected by the big gun once again. At the moment we're approaching the apex. On one hand we see that the buyers are very strong everywhere in the 20s and on the other hand, the sellers are...
Alas, she couldn't break through the upper resistance trend line this time around. I think she's run out of gas and needs a pullback to refuel. RSX shows a sharp peak and rapid decline, and DPMO shows a textbook false top > actual top > crossover. The trend remains bullish but needs to cool down and give it the opportunity to gradually build some positive...
Or are you about to crash and burn into the ground? Price momentum oscillator (PMO) is the lowest it's been since January 2016. PMO crossed above the signal line Dec. 3, but For the uninitiated, the bull kiss is the strong confirmation signal to follow when the PMO crosses above the signal line. The PMO will look like it's going to sputter out and drop like a...
I'm in at 1.34. Notes given on the chart. Conduct your own due diligence.
1. Bullish engulfing candlestick on Friday (a particularly bearish day for market) 2. Recent crossover - 7-day JMA crossing up on 10-day DWMA 3. Upward trend line held support on Friday (although this is a weaker signal because, although trend line starts January 2016, it was only established when bottom was reached on 10/30/18) 4. Impending price momentum...