Once Bitcoin reached ~100k, it entered a period of sideways movement and seems reluctant to leave this range. This forms a solid base for a market that's gearing up for a strong move, one way or another. The price action is currently punishing both bulls and bears.
Up to 103k, the picture was clear with higher highs and higher lows. But afterward, traders have...
On a large timeframe, platinum looks like a forgotten, cheap, and very healthy bull market. This market might be in the spotlight in 2025 and 2026. For now, no one is talking about it, which is good for building a base for a significant move. Money likes quiet.
Soybean Oil has drawn a nice Head & Shoulders pattern. After breaking the neckline, the market should have fallen - but it did the opposite, it's rising. Now, short sellers are trapped, and the market is set to punish them. They have stop losses in obvious places - TARGET 1 is the minimum the market is going to hit. TARGET 2 is very probable in my opinion; long...
Interesting level for a small trade. Take profit on 1/3 of the position size. For the rest, let it fly to the sky. Or take a loss on the full position ^^
Let's see if NASDAQ:MARA is bouncing temporarily or if this is the beginning of something bigger. In recent sessions, some stops were triggered, and the price touched the Fibonacci Extension at 61.8%.
The AMEX:GSG chart isn't as clear to me as the S&P-GSCI Commodity Index SP:SPGSCI , but it tells the same story: a bull market, followed by a shallow correction to 38.2%, and now a MACD buy signal.
The commodity bull market that began in 2020 might not be over yet. The last three years, 2022, 2023, and 2024, could merely represent a healthy retracement within a larger bull market. A few months ago, there was a minor panic just below a clear support level, after which the market rebounded, suggesting that such low prices were not sustainable in this market....
I'd like to buy SUGAR at $11.55, expecting an upward move from this level. If we go up, a big cup & handle pattern will become visible to everyone. If that happens, I'll look to sell half of my position soon after the pattern is confirmed.
The oil market hasn't been very trendy in the last two years, which is good for building a base for another up wave. XOP is at support right now, a nice place for joining the bull market during a pretty flat correction.
Considering trading EOG Resources. The stock is in a nice uptrend, followed by a 2.5-year flat correction forming a triangle. Placing a buy order at $123.80 - close to the triangle's lower boundary. This is on a monthly chart, so patience is key. Will cut losses if the price drops below the triangle's lower band.
Analyzing Soybean Oil CBOT:ZL1! on a monthly chart, my focus is on WisdomTree Soybean Oil LSE:SOYO on the LSE. Here's the rundown:
Bullish Surge: Prices skyrocketed by 281% from 2020 to 2022!
Pullback: A retracement to the 61.8% Fibonacci level occurred from 2022-2024.
Pattern Alert: Spotted a classic Head and Shoulders, key for forecasting.
...
Let's look at Fibonacci levels. The attached chart, on a logarithmic scale, spans over 50 years - that's huge! The market just bounced from the 61.8% level, confirming that the bulls are still alive. Let's switch to a lower timeframe in the next post to see if anything interesting is happening there.
Soybean Oil:
- 1970-1974: Prices rose from $8.6 to $48 = ~ 450% increase
- 1974-2000: Sideways movement between $15-$40
- 2000-2008: Bull market, prices surged from $15 to $70 = ~ 350% increase
- 2008-2020: Retracement to $25
- 2020-2022: Another bull market, prices went up from $25 to $87 = ~ 250% increase
- 2022-2024: Retracement to $38
But has...
Key observations on the TEC DAX chart:
- Fibonacci resistance on a major timeframe.
- Bullish flag formation .
How these elements interact:
Since peaking in November 2021, TEC DAX has undergone a correction, with the market closely respecting the 61.8% Fibonacci resistance level. This level acts as a pivotal line, distinguishing between bullish and bearish...
