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Rsi_divergence

USD/JPY: Overbought or Just Taking a Breather?Following the Bank of Japan (BoJ) maintaining its overnight rate between 0.0% and 0.1% and announcing that a bond-taper plan will be delivered at next month’s policy-setting meeting, the Japanese yen (JPY) and yields traded southbound. Technical View Supports Buyers Technically, the USD/JPY is an interesting market. In the long term, the trend is unquestionably to the upside, visible on both monthly and daily charts. Having said that, upside momentum has slowed, as shown through the negative divergence on the monthly chart’s Relative Strength Index (RSI) and daily action testing the upper edge of the 50.00 centreline. Structurally, monthly support is seen from ¥150.80, and the channel resistance extended from the high of ¥125.85 was retested as support in recent months. ¥160.20 resistance (high from the 1990s) remains a logical barrier to note overhead, though, through the daily timeframe, active resistance entered the fray on Friday at ¥157.81: the last technical line of defence before opening the door to daily resistance at ¥159.88. Where does this leave price action in the short term (H1 chart)? Following a run on stops north of the big figure ¥158 and a subsequent retest of ¥157 (which held into the week’s close), resistance is now a concern at ¥157.37. Should offers be cleared at the aforementioned level, ¥158 could call for attention once more. In fact, given the lacklustre response at current resistance on Friday, this resistance echoes vulnerability and a breakout higher in early trading this week should not raise too many eyebrows. H1 and Daily Resistances Eyed for Bullish Cues Based on the above analysis, a breakout above H1 resistance at ¥157.37 could trigger short-term buying towards daily resistance from ¥157.81. Assuming a daily close above the noted daily resistance, this would place ¥158 in a vulnerable position and unshackle things for further breakout buying.
Long
by FPMarkets
ALB falling wedge - short then long?Starting from a weekly timeframe a falling wedge nearly 7 months in the making is observed on ALB charts. Notably the wedge formation appears beside rising momentum, drawing the supposition a price bottom could be forming. Considering trades, the question is whether a breakout is imminent or if the price will break down once more to retest the bottom of the wedge. Drilling down a 4 hour timeframe provides some insight. Has momentum failed to reach overbought, portending a drawdown? It could also be we're waiting for the final push of the current thrust... Overbought on the 4 hour chart could be nice for a couple reasons opportunity for short term short position (buy PUTs) setup to sell PUTs/buy CALLs at the bottom of the wedge, especially if momentum remains in an uptrend on longer duration charts (weekly, monthly) I recently traded the bottom side of a wedge on UNG, could there be a double trade opportunity on ALB? A drop first, then a big push through the top of the wedge?
NYSE:ALBShort
by quickshiftinn
6
Apple’s AI May Not Be Enough to Spur Another RallyThe tech giant unveiled highly anticipated generative artificial intelligence (AI) features for its devices and turbocharged its voice assistant Siri, which can now take cross-app actions. The new functionalities will be available with the next operating systems (typically rolled out in autumn) in the most recent devices capable of handling the heavy workloads. The AI features could generate excitement around Apple’s products, get people to buy the latest devices and reinvigorate its sluggish sales. Apple’s stock registered a relief rally in May, largely due to optimism about the expected generative AI announcements, now being at striking distance of new record (199.62). AI is expected to fuel a recovery in the smartphone market and could help Apple’s top and bottom lines if done right. On the other hand, Apple’s entry to the AI arena is late, far from groundbreaking and mostly a catching up exercise. Its lack of innovation along with other factors have hurt its sales, which have shrank for five of the past six quarters. Monday’s announcements may not be enough to sustainably take revenues out of contraction and drive the stock higher. AAPL dropped yesterday as markets appeared underwhelmed and the RSI’s divergence lower could lead to a pullback towards the EMA200 (black line). Daily closes below it however that would pause the bullish bias have a higher degree of difficulty. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
NASDAQ:AAPLShort
by FXCM
Campbell's ready to pop!Campbell's looks primed for a pump for a variety of reasons Massive 336 day rounding bottom with rising momentum Golden Cross on daily chart Hit overbought during recovery Staples sector showing recent strength Moving into range where it previously gapped down, potential for sharp rise to top of the range Bullish flag since mid April Long term monthly chart we can shows CPB recovering from the 200 period moving average along a very lengthy uptrend.
CLong
by quickshiftinn
Is Soybean Oil Heating Up? Of the grains and oilseeds, soybean oil has been the clear laggard. Corn, wheat, soybeans, and even soybean meal have seen notable rallies over the course of the last 4-6 weeks. However, there are indications that may soon change. As ingredient buyers know, soybean oil typically trades at a significant premium to its rival palm oil. The chart below overlays a 5-year continuous chart of front month soybean oil futures prices along with a 5-year continuous chart of Malaysian palm oil futures. As displayed by the chart, in each instance over the past 5 years in which SBO’s premium has eroded relative to palm oil, we’ve seen soybean oil prices rally in excess of 15%. Fund Positioning : Extreme fund positioning is typically viewed as a contrary indicator. As such, managed money funds holding their largest net-short position in soybean oil futures of any point in the last 5-years adds to the bullish case in the immediate term. Per the last CFTC Commitment of Traders report, managed money was holding a net-short position of 58,748 contracts. In the instance that prices grind higher, short-covering on behalf of managed money could accelerate a move to the upside. Technicals : Lastly, the technical landscape of soybean oil also looks constructive. There is significant bullish divergence between the two most recent lows, and a standard 14-day RSI. In other words, the most recent successive lows came on less conviction. A break and close above the most recent swing high of 50 should lay the groundwork for a test of the swing-highs observed last July between 64 and 66. Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition. With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500 Performance Disclaimer Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
CBOT:ZL1!Long
by Blue_Line_Futures
Shipping Corporation Of India Showing Expected Up-Side MomentumCompany has reduced debt. Company has delivered good profit growth of 24.4% CAGR over last 5 years Strengths Long track record of operations along with diversified business segment SCIL is one of the largest shipping companies in India with an operational track record of around six decades. It benefits from the experienced management of qualified professionals and nominees of GOI. The long track record has helped them establishing relationships with major PSUs in India like IOCL, HPCL, BPCL, ONGC, etc. The company have diversified business segments which includes crude oil/product tankers, dry bulk, offshore services, and container operations, and has a presence in passenger vessels, chemicals, and gas transportation. SCIL currently has the largest fleet size of 59 vessels; a relatively younger fleet, with an average age of around 11-12 years which helps them in getting better charter rates and achieving higher operating efficiency. Vessels on behalf of third parties, primarily Public-Sector Units (PSUs)/Government Departments/Union Territories are also managed for service income. Currently, SCIL are managing 53 third party vessels. Acuité believes that SCIL will continue to benefit from its long operational track record and established relationship with the PSU's./b] Strategic importance to Government of India With more than six decades of operational track record, SCIL, remains strategically important to the Government of India. The company have been playing a pivotal role towards supplying vessels for the Indian Government key operations such as Mars Orbitter Mission of ISRO (Indian Space and Research Organisation) and other defence missions via agreement with DRDO (Defence Research and Development Organisation). Furthermore, SCIL have created strategic alliances with other governments such as Maldives, Andaman & Nicobar Islands for providing maritime services among islands. They have also been serving projects of national importance by partnering with ONGC and Geological Survey of India (GSI) for offshore services. Apart from that, the company deployed its container vessel on direct "India - Middle East Shipping Service" which connects East & West Coast of India with Middle East ports of Jebel Ali and Hamad and will also cater to other ports in Persian Gulf. Stable business operations The business operations of the company remained stable over the years marked by healthy growth in revenue from operations by -25% CAGR over FY21-23 period. The consolidated company achieved revenues of Rs.5794.01 Cr. in FY23 compared against Rs.4988.08 Cr. in FY22 and Rs.3698.09 in FY21. The improvement in revenue is attributable to significant improvement in liner freight indices and bulk segment due to significant improvement in charter rates. A surge in the tanker charter hire rates helped the Tanker Segment to post significant profits. The dry bulk segment is still recovering from historically bad period and loss of key cargoes such as iron ore exports from India, resulting in long non-profitable ballast legs thereby putting pressure on earnings. Although, in later parts of 2020, dry bulk trade recovered remarkably well on account of stimulus packages given by various governments and with China, the main driver of dry bulk demand, recovering quickly from COVID-19 crisis. Simultaneous occurrence of multiple factors conducive for the dry bulk shipping business, viz., spike in dry bulk materials demand, strong trade in grain, coal and iron ore segments, low active fleet growth maintaining tonnage balance etc. gave a good push to the dry bulk rates. Also. strong trade growth and tapering dry bulk carrier deliveries bode well for the near future. Healthy Financial Risk Profile The financial risk profile of the company remained healthy marked by strong net worth, gearing ratio and comfortable debt protection metrics. The tangible Net worth of the company stood at Rs.6902 crore in FY2023 as against Rs.5974 crore in FY2022. The debt/equity of the company improved and stood comfortably at 0.37x and 0.53x as on 31 March 2023 and 31 March 2022 respectively. The TOL/TNW of the company improved and stood low at 0.66x as on 31 March 2023 compared against 0.82 times as on 31 March 2022 respectively. The debt protection matrices of the compar mained comfortable marked by interest- coverage-ratio of 9.45x and Debt-service e ratio of 2.30x for FY2023. Acuité believes that financial risk profile of SCIL may remain strong owing to no major capex plans and stable profit accretions.
NSE:SCILong
by iism-ExpertTrading
Natural Gas (UNG) tradable rangeSelling PUTs on Natural Gas ETFs seems a decent income prospect at the moment. Not only are there auspices of a falling wedge breakout, but an increase in momentum may be acting as support at the lower end of a months long trading range. These formations are already seventy five days in the making, providing some confidence in the likelihood of our bullish presumptions coming to fruition. I warrant that the information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
AMEX:UNGLong
by quickshiftinn
4
SPY Daily - Rising WedgeTreading lightly here as the SPY looks to be right at the end of a bearish rising wedge following a bearish ABCD Elliot Wave heading into a major week economically speaking. On Wednesday we have retail sales numbers, core CPI, and Core CPI YOY coming out, followed by jobless claims on Thursday. Will be watching closely, some support levels and RSI-based supply and demand zones to keep an eye on in the meantime, bearish and hedged- (Original Chart Attached Below) - Rising Wedge following a bearish ABCD Elliot Wave - Hidden Bearish Divergence on the RSI - Sitting right on its 50-Day SMA - Bearish ABCD Elliot Wave
AMEX:SPYShort
by jacobosiason7
RSI on the Chart?If you like RSI, you probably dislike that it takes up so much space on your screen - especially if your mobile. This solution provides the RSI in an authentic manner without sacrificing screen space. You might even be able to spot additional confluence types using this indicator. Soon enough I will have it spitting out all of my divergence signals. (I have 18 different divergences (9 buy, 9 sell) that I can spot and profit from) Just search the indicators for EMARSI on Chart! Let me know what you think.
by ennoiD
Bitcoin MACD and RSI show su strength nowSometimes, its a good idea to look away from the PA and to take a look at the other info presented to us as people Buy and Sell #Bitcoin Two Major indicators for me are the MACD and the RSI. The image here is the DAILY #BTC chart for those, since December 2022 At a quick glance you can see that Both MACD and RSI have reset a long way. This gives PA room to move higher. The line that the Histogram changes colour on is Zero or Neutral and MACD has spent very little time below that line. The MACD line ( Yellow) has dropped below, heading towards oversold) but still could drop further before reaching strong support. The Signal line ( red) has yet to get there. However, the Histogram shows usa a lot of info and that change maybe beginning.. Green bars above the 'Zero line' indicate positive momentum. Red bars below the 'Zero line' indicate negative momentum. Note in this chart how the Histogram is beginning to show a reduced negative trend. It is rising while the MACD is dropping. that could be seen as Strong BULLISH divergence. The RSI ( Blue) is possibly THE one to watch. Note how it has reached overbought ( high shaded ) 3 times and then got rejected. But, when RSI drops, PA does not always follow. This also creates Divergences. Currently, RSI is at the same level it was at when BTC began the push up in Jan 2023. This does not mean it is about to begin rising again because, as you can see, it could drop a lot further. But we are certainly entering an area that I call "Potential" - The Potential for reversal now exists and we have the strength to continue that reversal when it happens. Other factors need to be taken into account but this certainly has got me searching for more liquidity. Does anyone want to buy my house in South East France ?
BITSTAMP:BTCUSD
by Orriginal
QQQ has recently broken below its upwardAfter going on a nice rally QQQ is starting to show signs weakness in its price action and RSI. QQQ price action for the first time in a while breaks below its upward trend and holds below for two straight trading days RSI 20 has also been forming a bearish divergance pattern with it trending down while price has been climbing over the past month. Key signs to watchout for: RSI breaking below 50 Price action breaking below its flat support line. It is very possible that QQQ will simply do a pull back through time where trades flat for a month or two months before starting to rally again. Due to its more tech heavier lean, a correction and sell off in price is very likely as well. Tighten your stop losses to protect downside risk
NASDAQ:QQQShort
by ratchet-mint
3