Itskaleel

Itskaleel

Last week we got the bullish closure above 31k giving us the conformation for price to clear the range to 31400, reject, then continue to range between 31k and 31400 for the remainder of the week. This week as recession scares and FED rate increases continue to bring FUD to the markets we saw price breakout below this HTF consolidation zone and to now test 30500....

Itskaleel

Last week on us30 we got that bearish closure below 31400 and with that we expected price to clear that range to test 31000. We continued to break below 31k and drop all the way to 30500 creating a double bottom to end the week back at 31k. The reason for this aggressive bearish move was the market pricing in the Federal Reserve announcing their 0.75bps rate hike...

Itskaleel

Last week us30 continued bullish for the remainder of the week as we broke above key level 31k and quickly cleared that entire range to 31500. We broke above and have been trading between 31400-31700 with a recent breakout above to the upside to test 31900 then reject and completely correct that move. This week where price is at we can expect us30 to come down to...

Itskaleel

Last week us30 created another new low coming down to retest 29600 which are pre-pandemic highs and key level for price. We ended the week within the 30200-28800 range and demand zone failing to breakout in either direction. This week we've already began breaking out above 30200 and coming up to test 30400 key level. Our overall bias is still bearish on us30...

Itskaleel

We began the week still ranging between 33500 and 32600 expecting either a push to 34k if we got a break above 33500 or a sell 32600. Sellers jumped in on high inflation and priced in more rate hikes to come giving us that 1200 pip sell off below to end the week at 31400. This week we have a lot of economic news that’ll impact the market including potential for...

Itskaleel

Last week we got the bullish move to 32500 as expected then price broke above and continued to test the 33500 area, creating a supply zone at this price sensitivity area. We then had price reject and pull back to the key level 32500 and end the week within this intra-week range of 33500 and 32500. This week as we begin to see some buyers exhaustion and continued...

Itskaleel

Last week we saw us30 make that expected move to 32500 after the closure above 31600. We then broke above 32500 and continued to test 33500 before coming back down to the key price sensitivity level of 32700. For the rest of the week as we approach 32600 if we get the break below we can expect price to continue bearish making its way back to previous lows or if...

Itskaleel

Last week we saw us30 begin the week with a very short lived pull back the key price sensitivity zone 32600 which is only maintained this bearish structure. We then had sellers drive us back down to the previous lows of 31300 which we broke below shortly after to then bounce off 30800 creating a new low and ending the week back at 31300. This week as we’ve began...

Itskaleel

Last week we saw the market cycle beginning to shift as investors begin to price in these aggressive rate hikes. Us30 broke the yearly lows of 32k and drove deeper to test 31200 before rejecting and coming back up to end the above 32k. As sellers continue to print lower lows our bias is still toward the downside. This week we've already came back up to retest a...

Itskaleel Updated 

Last week began with very low volume and price was just ranging between 33k- 33300 as we were waiting in anticipation for the FOMC rate data to come out. That bull run we saw to 34k on us30 was price reacting to FOMC discussing the 50 bps rate hike as-well as a neutral statement from Powell repeating similar info from his IMF. That move was simply a short lived...

Itskaleel Updated 

Last week we saw price range between 33200 and 34100 as sellers began taking profits but continued Fear, Uncertainty and Doubt from the IMF meeting impacting price. To end the week we saw buyers try to squeeze in more positions, then a failure to break above 34k and continued outflow to the downside where price came to retest 33k. What i'd expect to see this week...

Itskaleel Updated 

As expected we got the bullish push on us30 to retest the previous highs of 35400 area. Then as we priced in the IMF meeting discussing rate hikes we saw a huge 1500 pip bear run to 33600 breaking below the previous lows of 34200. Then with a retest of 33500 we failed to break lower creating an order block, consolidation zone and price came back up to slightly...

Itskaleel

Last week us30 continued to range between 34900-34200. Price action was nice as price respected the 34900, 34600, 34300 and 34200 key levels. We saw price reject 34200 with a triple bottom creating a new low, as we enter this new week price is forming a reverse head and shoulders candle stick formation which is a good indicator of bullish momentum entering the...

Itskaleel

Last week we saw us30 respect the 34200-35400 level 2 range its in and create a steady downtrend to retest the key level/ lower supply zone of 34200. On higher timeframes its evident us30 is forming an uptrend, it formed a level 1 range from 32300-34000, broke out then entered the level 2 range from 34200-35400. For this uptrend to be respected i'd expect to see...

Itskaleel

After the russian invasion we saw an influx of investors buys at the bottom around 32400 which led to the bull run we saw and a breakout of the downtrend price has been in since the start of Q1. As we enter Q2 and investors take profits around 34800 we saw lower volume the previous week and price ranging between 34550 and 35400. This week expect price to retest...

Itskaleel

Last week was a very a low volume week as price is ranging between 34400 and 34900 after the previous weeks bull run, which is not uncommon after moves as such as price exhaustion takes place and us30 begins to collect orders. No real confirmation of direction can be made until we either get a closure above 35000 for buys or below 34300 for sell, just trade...

Itskaleel

Last week price had a 1600 pip bull run to the 34800 key level, as expected we saw price congestion leading to a break out to the upside and continued wick fills as price closed above demand zones. Momentum has slowed as it respects the current downtrend line leading into this week. It's likely we'll see a bearish reversal but confirmation for sells will be valid...

Itskaleel

Last we a saw bearish push back to the 32300 supply zone rejection after picking up orders then a continuation bullish, still respecting the overall trend. We are in a consolidation zone on higher timeframes between key levels 32300 and 33600, waiting for confirmation of prices direction. This week price seems to forming a symmetrical triangle, which is a good...