Daniel_Kostecki

Daniel_Kostecki

The price of Litecoin has created a potential double bottom pattern with key support at 25,30 USD. From the second test of that level, the market seems to be moving within an upward channel with higher highs and higher lows. However, the recent upward movement occurred with a huge volume on the weekly candle. The price has stopped the rally at the upper limit of...

Daniel_Kostecki

Looking at the long-term chart of the USD index futures contracts we may spot a potential double top pattern. The first top was created in 2017 and the second in 2020. The key resistance seems to be placed at 103,68. The key level for a mentioned potential pattern is located at 88,17. This may be the first potential target for the dollar bears. However, if it is...

Daniel_Kostecki

A week ago we wrote that the price of silver has broken un upper limit within a multi-year consolidation. The price surged along with gold and the weakness of the dollar. The monthly rise in July in the silver price was the biggest since 1979. From the technical point of view, the price has reached a potential first target for the bulls which was set by the...

Daniel_Kostecki

Looking at the XRPUSD chart we could spot a significant breakout to the upside. The price has reached the highest level since February 2020. The upper limit in the broken channel may be the first significant support area. What is more, the price of XRP has been creating a potential symmetrical triangle pattern. This could be a trend continuation structure with...

Daniel_Kostecki

The price of the EUR/USD currency pair has reached the highest level since 2018, reaching almost 1,2000. After that the correction has appeared which may look like an ABC simple correction or as a head and shoulders pattern. The potential key level is set at 1,1700 where the previous support has been located. If it is broken the way to 1,1500 could be open. It...

Daniel_Kostecki

The price of ETH soared in July. The market has risen by over 60 percent in just one month. From the technical point of view, the price has broken key resistance levels at the line drawn through the recent tops and also the resistance set by a previous high near 284 USD. Looking at the whole structure since the end of 2018 we may spot a potential double bottom...

Daniel_Kostecki

The price of Bitcoin has broken a neckline drawn through the recent tops. What is more, during the upward movement the volume has increased. This could be a potential bullish pattern with volume confirmation. If the broken resistance is defended at 10404 USD, the market may move even to the textbook target of head and shoulders pattern at 16333 USD. Only a...

Daniel_Kostecki

The price of silver futures contracts has been broken an upper limit within a multiyear consolidation which has been creating since 2016. However, before the breakout the potential divergence between the price and market positioning could be spotted. The data from the COT report may signal that the price may go even further to the upside because there are no...

Daniel_Kostecki

The price of Bitcoin has reached the highest level since early June, rising above USD 10 000. The nearest potential resistance might be set at a recent top around USD 10 500 which could be tested soon. From the Elliott wave theory perspective, the market may finish the second corrective wave. As a consequence, we may expect third wave to occur in the near...

Daniel_Kostecki

The price of natural gas futures has broken an upper limit within a downward channel. The channel may be also described as a flag pattern which usually a trend continuation structure. If the current breakout is the beginning of the new upward impulse wave the price could reach the next Fibonacci expansions. The first one which is potentially important is located...

Daniel_Kostecki

The price of ETH has broken the key trendline drawn through the recent tops. The strength of an upward movement seems to be significant which may be a positive bullish signal. Therefore, the market may move to the next potential resistance set by the recent top at 284 USD. If it is broken also ETH may strengthen as a potential another impulse wave after an ABC...

Daniel_Kostecki

The EUR/USD has reached the highest level since 2018. The price has broken recent resistance levels and it seems to be moving within an upward channel. From the Fibonacci techniques, the price may event move to the 261,8 Fibo expansion at 1,2050 USD. The nearest potential support may be set by the line drawn through the bottoms and by the previous potential...

Daniel_Kostecki

The EUR/PLN currency pair has been moving within a trend channel since the end of March. The pair has tested the lower limit of the channel as a potential support area and also has tested the upper limit as potential resistance. Last week it has been defended so the market may move to the next potential support at 4,36 or at the line drawn through the...

Daniel_Kostecki

One of the main scenarios for BTCUSD has assumed an inverted head and shoulders pattern. Within this scenario, the price could fall to 6900 USD area as a support level and the bottom of the potential left shoulder. However, the market is still above 9000 USD and in the one week, the time equality is going to the end. The current correction looks like potential...

Daniel_Kostecki

The price of gold has reached the highest levels since 2011. However, the large speculators seem to be trimming their net long positions creating a significant divergence. Divergence in which the price has been reaching new highs while the net long positions have been falling. This may suggest that the market important market participants do not believe in such a...

Daniel_Kostecki

Looking at the daily chart of the German Dax index we may spot a potential rising wedge pattern with potential resistance at the recent high at 12922 pts. The rising wedge pattern is typically a potential bearish structure. It may be confirmed only by a breakout of the line drawn through the bottoms. Then the next potential support may be located at 11750 pts....

Daniel_Kostecki

Looking at the price of silver we may spot a possible five wave structure. The structure is known from the Elliott wave theory and could lead to a possible correction. However, to create a possible corrective structure, the market should break the line drawn through the bottoms. The next possible resistance is set at 19,65 USD and the possible support is located...

Daniel_Kostecki

The index of 500 biggest US companies has reached a possible resistance level at 3232 pts. This area could be important for the market participants because previously the price has created a support level. Currently, this support may become the resistance level. If it is not broken the market may move to the line drawn through the bottoms. If the line is broken...