The high for oil is probably set, for at least a month. It speaks for itself that this is contrary to the current belief due to the war in Ukrain, but the charts speak for themselves. Expect a correction during the remainder of march and april. Target for the correction is 104 to 106 level. Once the correction is over, Oil will probably rise during summer to 168...
Bitcoin is showing is that a longer term bottom is in place, because of the following reasons. Momentum analysis The weekly chart found support on the RSI 40 level. A longer term Positive Reversal (LT PR) is there, with a signal count of 16. The Cardwell CFG is bottoming out at the same level as in june 2021. Elliott Wave The strong leg up to april 21, is...
Based on the teachings of Andrew Cardwell and Constance Brown regarding positive reversal scenarios, we possibly see a nice example in ETH/BTC here. I have marked the key points with letters. The low marked 'x' is a higher low than the low marked 'w'. The RSI shows a lower low, meaning that PA is considered oversold quicker than before. This is called a positive...
All timeframes on NZDUSD are bearish. Next longer timeframe target is 0.63411, which is the last bottom on the Monthly timeframe Target: 0.63411 Invalidation point: 0.70644 (last bottom on Daily timeframe) See below the multitimeframe analysis M) Down: Bearish Range Rules (Relative Strengh Index moves between 20 and 60), Bear retracement exactly at 50%, Price is...
EURUSD shows arguments to expect a further decline on different timeframes. Wait for Negative Reversals on Relative Strength Index or CFG to short the market. Next target: 1.146 (based on weekly timeframe) Invalidation point: 1.17111 (recent bottom on daily and 4H timeframe) See analysis of multi timeframes below: M) Down: topping at 60, below fibo 50% level...