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VTC/BTC breakout of the triangle... potential uptrend starting!Hello traders! After a long 50 days or even more we finally saw a first canddle closing above DEMA 50. Now we can see a crossover of TEMA and a nice bullish STOCH and RSI on 4h. We saw a nice breakout from a triangle that was ''generating tempo'' for a long time now. The only thing bearish right now is STOCH on daily but that should be fixed with a bit of a straight movment market since the 0.382 Fibb and 50dema are too strong to break on downtrend in my opinion. A.J.
by Cidoguy
Crude Oil looking for direction.Crude oil is looking for direction and is in a trading range at this time between 50.00 and 43.00. The 50% retracement of the 2016 long leg seems to be holding for now. It is possible if that price holds that we see the yearly high again at the least. However, price could power through the 50% level and move to the 70% level just under 40.00. At this time it is hard to get a good understanding of direction...it is best to stay "neutral" and take conservative profits until a better understanding of direction can be clearly understood.
NYMEX:CLX2016
by DSP