FTSE100 is about to retest a key horizontal resistance level near 8573.9004. It has tested this level 3 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
S&P500 dropped sharply for 13 days – which is an excessively big movement for this instrument; exceeding the 98% of past price moves. Even if this move is a sign of a new trend in S&P500 there is a chance that we will witness a correction, no matter how brief.
LTCUSD is approaching the support line of a Channel Up. It has touched this line numerous times in the last 7 days. If it tests this line again, it should do so in the next 2 days.
Emerging Falling Wedge pattern in its final wave was identified on the XAUUSD 15 Minutes chart. After a strong bearish run, we find XAUUSD heading towards the upper triangle line with a possible resistance at 3271.7274. If the support shows to hold, the Falling Wedge pattern suggests a rebound back towards current levels.
Emerging Channel Up pattern in its final wave was identified on the GBPJPY 30 Minutes chart. After a strong bullish run, we find GBPJPY heading towards the upper triangle line with a possible resistance at 190.7346. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
Rising Wedge pattern identified on BTCUSD has broken through a support level with the price momentum continuing to move in an downward direction. A solid trading opportunity continues with the price expected to reach 92571.8470 in the next 5.
An unexpected large move has occurred on NAS100 1 hour chart beginning at 17603.099 and ending at 18735.9756. Is this a sign of something new? What can we expect in the future?
You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 1530.0579 but consider reducing the size of your position as the price gets […]
