Get started

2014

Oil End of 2014 ForecastOil End of 2014 Forecast based on the uptrend which started in 2009 after the 2008 sell off. Anyone trading the S&P500 during late 2007 and 2008 should remember the effects it had - spikes - when oil news was announced... and the huge meltdown for transports... on the monthly chart we can see this period easily and make the MTAutoFib plot the high to low in a 100 period look back which captures those moments in time. And allows us to project forwards the horizontal levels of support and resistance which still effect today's trading. The current range and context of the market is set by those not so recent but no so far away events - so that we can see we are at just under a 61.8% retracement 103.19. The highest level since 2008 was set in 2011 at 114.8 which is a B point from point A in 2009 -point C took us back to 75 - and now point D is at 104.18. Oil failed to reach point B in 2013 and sold off but support at the upward sloping lower trend line just above f50% - since then has contracted in terms of range and has tested and violated 61.8% but not held as yet... The Triangle pattern we can see from points B C D are bullish. I would expect oil to retest 61.8% and to find weekly support above it and so find the range to retest 112 - and it has 6 months to do that before now and 2015. The blue candles are on the chart are a projection of what might happen and things might look like. However looking the price cycles of shorter to longer bars that take place in oil - the weekly range that can be easily 500ticks, it could only be 2 weeks from a retest. Congestion of prices going into the Apex of this triangle might provide the fuel for such a move. If the move is towards the down side then we are look towards the f50% levels as support - or 61.8% as the support if we keep this uptrend going as it is into 2015. I have also been assisted here by the MTAutoFib to show me likely retracement levels as well as extension... In addition the MTHLevels - is set here to show peaks and trough levels of Support... and Resistance... These indicators are available in Charts > Indicators > Market Place AddOns > MicroTrends more details of the indicators can be found here: www.indicatorfactory.com
FX:USOILLong
by microtrends
2
Bitcoin 2 Weeks Forecast until the Silk Road Auction - Update 4Not a lot of volume the past few days leaves Bitcoin in a CONGESTION phase until June 27 to June 30 just fluctuating without any clear direction. TA cannot be very helpful in such a immature market but a forecast can still be done. The congestion range is mainly between 582 to 621. My opinion is: (1) technically the chances of seeing 550 is unfortunately slimming down BUT we might still be able to drop to 550 around June 26-27 and quickly rebounce upwards. (2) BUT another scenario (not pictured in the above chart and which is also VERY LIKELY to happen) would be not to see 550 and the market just moves UP PAST 621 to 635 after rumors of the last price paid for the auction are LEAKED and you have to expect for sure that the price will be ABOVE the CURRENT MARKET PRICE. There are a lot of big players bidding on those coins and this is a very bullish sign that newbie traders do not see since they trade with their emotions. Given that China has been bullish more than other regions would point to that scenario to be most likely to happen. Also the fact that the Silk Road news is on the news more and more will bring more new investors in the next few days and weeks which will fuel the next rally.
BITFINEX:BTCUSDLong
by BitcoinGuru
1