Trade_with_confidence

Trade_with_confidence

Weekly chart of TSLA. Potential inverse head and shoulders pattern in RSI near the 50 level. MACD appears to be basing near the zero line. Shares are also in the process of breaking a downtrend. Shares could be setting up for a significant bull run.

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Potential monthly breakout after being in downtrend for years.

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LTC is under profit taking off the daily 50 day EMA. It has RSI support at the critical trendline, which acted as support and resistance several times in the past. LTC recently broke above that level, so needs to hold that level. A break below would negate all the good work done recently.

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Gold had a nice rebound recently but has to deal with some resistance. First, the previous high of around $1,835, the 200 day SMA. Additionally, RSI resistance at 61.8 level. This area acted as strong support and resistance previously. If gold is above break through this RSI level, it could make a significant push to the upside.

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So, SPCE has been out of favour for a while but could it be ready for move to the upside? Firstly, it is consolidating at the daily 200 SMA. Secondly, the RSI is also basing at the 38.2 level. This level acted as strong support and resistance in the past. So, this level of RSI has to be respected. The Stochastics is also oversold. Putting all together favours a...

Trade_with_confidence

Gold bouncing off support around $1,795, moved past the daily 20/50 EMAs. Looks like its headed to challenge the 200 SMA around $1,828. Momentum indicators, RSI and MACD are positive. So, looking good for gold.

Trade_with_confidence

Investors appear to be taking risk off as they move into Utilities. XLU continues to move higher; weekly RSI is approaching 61.8 level. This level provided strong resistance over the past year or so. Therefore, a move past that level would be significant.

Trade_with_confidence

Weekly chart of Delta Airlines. It has corrected nearly 38% from the Covid lows. Weekly RSI recently bounced slightly of the RSI 38.2 level. Has that RSI 38.2 level been a good buying opportunity in the past? DAL rebounded of that level several times over the past few years particularly when weekly Stochastic is also in oversold level.

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Gold has been forming a base around $1,795 on a 5 hr basis but also has a downward sloping trend line. RSI is also forming a base at the 38.2 level. Could see gold break out of current consolidation soon. Bias would be to the upside.

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Technical picture improved significantly for $ETH as it pushed past the daily 20 and 50 EMAs on strong momentum. MACD is in the process of crossing above the zero line. RSI broke through a significant resistance line. A close above $2,400 would complete a double bottom and open the door for a move towards $2,900.

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$BTC is currently back testing RSI resistance. Looks like market is aware of this line as there has been at least three significant reactions at that line previously.

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Bullish weekly close for LULU with strong momentum.

Trade_with_confidence

BTC is seeing string buying action on improving momentum. RSI broke through a downtrend going back to the beginning of this year. MACD is also moving higher. Resistance is at the daily 50 EMA. A close above that level would be significant.