Naglfar

Naglfar

Let's pay attention to this possible inverse Head & Shoulders pattern on S&P500. Neck line at 4310, shoulder line at 4140 and head at 4060. All important S/R levels that have been tested numerous times in the past. Unreliable in these market conditions, but still interesting to watch.

Naglfar

Since the beginning of 2022 Bitcoin has been consolidating in a range, however this seems to be turning into an ascending triangle. Higher lows into resistance at 44500 (at daily close). In an uptrend, an ascending triangle usually has a bullish outcome. In a downtrend, the outcome is less clear. 37000 still holds as strong support.

Naglfar

S&P500 seems to be recovering at a spectacular pace, with no fundamental basis. The market is again reacting over-optimistically despite warnings of recession. Having said that, anything is possible. The market can stay irational for a long time. Watch this level carefully!

Naglfar

BTC is pushing for a breakout from the simmetrical triangle started in 2022. In the event of a bullish breakout, pay attention to strong resistance at 46000. If we have a bearish breakout, we might be looking to test the base at 30000.

Naglfar

WTI Oil's momentum seems to have weakened. Currently consolidating in a descending channel. Could this be a bull flag pattern? A few support levels immediately below. Watch for the breakout.

Naglfar

As I posted earlier, the CIX is forming an inverse H&S pattern, that seems to be playing out nicely. Whether or not this bullish development is likely to continue is difficult to appreciate at the moment. But interesting to watch.

Naglfar

We are looking at a possible retest of the 2017 bullrun trendline, which holds the 2021 bullrun. That would be around 34000.

Naglfar

Possible reverse H&S pattern spotted on the daily chart of CIX. Let's see how it plays out. The outcome is still likely to be negative, but it's interesting to watch.

Naglfar

DXY is making a H&S pattern on the 4H. This would send the prices lower for a retest of the trendline. Should that be broken, we might be looking at a reversal of the long-term uptrend.

Naglfar

SILVER looks like forming a Head & Shoulders pattern on the daily. That is if the price bounces off the current level.

Naglfar

EUR/USD is in a falling wedge after a significant move up. Although these are usually considered continuation patterns, in about 25% of instances they are actually reversal patterns. That would concur with the long-term trend, which is downgoing. Either way it needs confirmation.

Naglfar

BTC looks like it wants to reverse into an uptrend, and so far all of the technicals are in agreement. We have a consolidation area that was broken to the upside by an impulsive move. We have higher highs and higher lows, with small corrective moves. The daily 50EMA had been broken, but not retested. We are currently seeing a test of previous support area. If the...

Naglfar

The Dollar Index is in a long-term uptrend. Vientiane testing the trendline. If it holds, and the 50EMA does not reject the price, we might be looking for a retest of the high, around 97. If the trendline is broken, we might have a retest of support at 94.6.

Naglfar

Spot Silver is in a long-term downtrend. Currently the price is retesting the 50EMA on the daily with a possible continuation of the move down towards 21.4. On the 4H we have higher highs and higher lows with the 50EMA as possible support at 22.8. Going higher from here would push for a test of the trendline, around 24.

Naglfar

WTI Oil is in a strong uptrend and it looks a bit overextended. Currently in a wedge pattern. A break above is likely to push prices towards 93, whereas a break below is likely to result in a retest of 88 or even 86 levels.

Naglfar

S&P500 is in what looks like an indecision zone. The current short-time trend is bearish, and the recent move up seems like a 50% retracement in a downtrend. However this move looks more like an impulsive one and the reaction to the 50EMA and the trendline looks like a corrective move, which could mean that this is the beginning of a new uptrend. The levels to...

Naglfar

LUNA at support + 50EMA. Possible good long setup to resistance at 84.

Naglfar

If WTI pulls back to 80 level, which in conjunction with the 50EMA should provide support, look for reversal patterns towards resistance at 85.