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Can GER30 buyers resume the trend? Hi, and welcome to today's GER30 update. Yesterday buyers fought back from the range low to post a solid session that could be stage one in a new leg higher that could continue the current trend. Buyers still have some work to do. We want to see a break of yesterday's high and a break of the current resistance and highs set last week. A new trend point has started forming, but buyers still have to confirm it. We can see price has started to confirm, and the moving average and CCI are supporting possible higher prices, but for now, buyers need to take that final step. A piece of key data may have an impact, and that's today's US CPI data. The CPI data will be released tomorrow at 12:30 am AEDT. If the data matches or comes in lower than expected, this could boost stocks. If it comes in worse than expected, this could favor sellers. 15,500 is the current resistance, and support is seen at 15,260. If buyers can break yesterday's high, that's a solid first sign, but we feel the market will be waiting on the CPI data before we see some real direction. Good trading.
GLong
by Eightcap
US30 thoughts post CPI pre FOMCHi, and thanks for taking the time to look at our latest update. We hope everyone has been hitting some trade wins. Today we are looking at the US30 after its wild session after yesterday's US CPI data. The data came in below expectations, and this continues the run of lower-than-expected releases. This remains a touch confusing, as last week, we saw the PPI increase. Inflation sits at 7.1% y/y. Is this enough for the fed to set a slightly more dovish stance this week? Message from the fed has softened, but we still expect to see rates come in 50 points higher this week. This is a decrease on previous meetings, so it's a softening in that area if it does happen. The gambler in me wonders if we could see 25 points before Christmas, but the realist thinks we will most likely see the expected 50 points. The US30 saw one heck of a fade after the CPI data, and that does make me wonder if the market is feeling edgy regarding the feds' message this week, which may coincide with a high point in the rally. For now, we see resistance at 34,600 and at 35,270. Will that feds message this meeting cement buyer confidence, or could it start a new push lower if the message moves away from the softening tone we have started to see develop? The FOMC, funds rate, statement and economic projections will be released tomorrow morning AEDT time at 6:00 am, followed by the press conference at 6:30 am.
U
by Eightcap
US30 makes it two in a row, but do we need more evidence?What a start to the week and month we are seeing so far, traders. So far, buyers have added 5.52% to the US30, taking prices back to levels not seen since last month. Yes, it is great to see, but should we start thinking bottom? The UN is warning that we could see a global recession, with developing nations possibly seeing the brunt of the hurt. JP Morgan is also advising this might not be a bottom unless we see certain factors met. What has been driving the selling, Inflation, rising rates, U.S. and global recession fears? Have these factors gone? US-wise, the Fed remains hawkish, and Inflation remains in play. It is not uncommon to see sharp counter rallies in downtrends, and we need to be in tune with the market to either not be sucked in early or spot a potential turn. Bulls are definitely back in charge in the short-term, but it’s the next reaction lower that could give us some key evidence in if we are going to see a potential turn. A new higher low followed by a break of the last high would be a very good sign that a new short-term trend is starting to form. If we see a new move back down to or below the last low would be a worry that the current trend could continue lower. This Friday’s U.S. employment data could also be a factor for the current recovery, and we feel that traders will be paying attention to its release this Friday at 8:30 am EST. Thanks for tuning in for today's update. We like to hear from you, so please feel free to drop us a comment. We also run weekly webinars with guest analysts.
ULong
by Eightcap
US30, are sellers getting ready to test 30,550? In today’s video, we are looking at the US30. We start with a longer-term view and move down to the short term. Overall, the market continues to trade in a corrective phase that could be called a bear market. The issue we see here was the last relief rally that broke the downtrend. While it did upset the pattern of the downtrend, sellers now look to have broken that trend, and Tuesday’s session could be a bit more than an exhaustion bar as sellers so far today have made a new LL maintaining a normal pattern of trend. After yesterday’s latest move lower, could we be set to see 30,550 retested by sellers? That could become an important point if buyers can hold it. We will then look to see if a new LH and retest of the area could re-confirmed. Otherwise, a new break could set up a new move that could test the 30,000 area. A lot will depend on the current inflation outlook guided by future data and the Fed. Interesting times. We love hearing from you, so please drop us a comment on your thoughts. Enjoy your Friday and good trading.
UShort
by Eightcap
GER30 are sellers starting to take control? Hi, and welcome to Friday's update. In today's video, we are focusing on the GER30 daily chart. Price action and the OBV indicator are starting to show signs that sellers could be gaining short-term control over the market. Looking at price we can see that buyers made a failed breakout attempt, and sellers came in strong on the next session with an engulfing bar. Yesterday buyers held a rally but closed well-off highs showing plenty of rejection. Today, sellers have started a new move but still have a little work to do. We would like to see sellers continue to push lower and break support seen at 13,640. A break and close below yesterday's low could be the trigger for a new leg lower if sellers can hold the move. If buyers can regain control and close price back above 13,750, we would be looking for more evidence before we continue to think that the market is set to break lower. What are your thoughts? We also like to hear feedback from our readers. Thanks for stopping by. We hope you are all enjoying your Friday and good trading.
GShort
by Eightcap
Could CPI data help the US30 confirm a continuation? Hi, and welcome to today’s update. In today’s video update, we’re looking at the US30 and wondering if today’s CPI could break the consolidation deadlock we are currently seeing price sitting in. Price continues to be held in an ascending triangle pattern, and in uptrends, these are typically seen as continuation patterns. We can clearly see that price remains in an uptrend, so if we see better than expected CPI data today, could that be a driver that sets off buyers? Better than expected data could tell the market that peak inflation could be here and that rates could move into a holding phase or at least see a smaller increase. But if we see worse than expected data, this could set the pattern up to fail, and we could see a new break lower. For now, we will look for the current trend to remain in play until we see further price action telling us otherwise. US CPI data is due out at 8:30 am EST. Good trading, and enjoy your Wednesday.
ULong
by Eightcap
Oil back at key support who will win this battle?Hi all, thanks for checking in for Wednesday's video analysis on oil. Once again, we find ourselves back at key support. This level has stood since March, and till today sellers haven't been able to break through this level. For the last two sessions, sellers have tried and failed at breaking $95.20 support, but the question now is, do buyers still have the numbers to defend a new assault? Monday saw a strong move down by sellers, but they continue to be blocked at support. Things above are not much clearer as resistance continues to look firm from $101-$102. Our question today is will we see a new break lower or will support hold, and with price now starting to be squeezed, could this become a defining point that continues the current downtrend or sprouts a new reversal? One thing I didn't cover in today's video is the danger of breakout selling at this point. The current point looks as good as any for a bear trap after a false breakout out lower, as we have already seen one in July. Regardless of the breakout direction, we see it might be a good idea to wait for a new LH or HL to gauge that the move is valid and won't get sucked back into the range. Thanks for watching and reading. We hope you enjoy the rest of your day. Good trading
EIGHTCAP:USOUSD
by Eightcap
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ASX200 4H, could we see a new test of 6715?Happy Monday. Thanks for tuning in. Today we’re looking at the ASX200 as a few things point to buyer control. Since last Friday, we continue to watch the new fast uptrend remain in play. Buyers are also starting to break out of a wedge pattern, but we want to see if price can get back up to and break 6715. A move up to and break of that level could start to tell us that a new short-term up trend is underway. Thanks to all our subscribers and to the trading community for watching today’s update. We wish you good trading for the rest of the day.
EIGHTCAP:ASX200Long
by Eightcap
US30 pressure continues. Could the short-term run be over? Hello to all our subscribers and the TradingView community. Thanks for stopping by and watching our latest market update. Today we have broken down the US30 on an overall longer-term view and the current short-term view. Overall the trend remains down, and we are watching to see if the short term can complete the current pattern of trend and maintain a normal trend with a new LL. Sellers are in control on the short term but they have a bit to do to confirm that. On the short-term, sellers continue to hold sway with a break of yesterday’s low in today’s out-of-hours session. We’re seeing two keys moving forward. 1, sellers break 30,500 demand and set off back to 29,683 low. If demand holds and we see a new move above 31,500 resistance, we will jump off the seller train and look at the possibility that the uptrend from the 20th of June has further to run. Good trading and we hope you enjoy the rest of your day.
UShort
by Eightcap
USOUSD OIL,Yesterday's buyer fightback to push a new leg higher?Thanks for tunning in TradingView community. Today we're looking at USOUSD oil and wondering if yesterday's price rejection could lead to a new leg higher from buyers. So far this week, we have seen mixed trade with buyers coming close to breaking last week's high before sellers took hold and set up a two-day retracement. It would have been three, but buyers had other ideas yesterday, stopping sellers once they tested 112.75. Buyers quickly took price back up above 117 and posted a higher close for the session. Today so far price has been on the quieter side. If we can see a new move above yesterday's high, we will be looking for a new up leg, but if sellers can close below 115.14 this could be a warning that the current retracement could have further to go. If we do see a new leg higher would look for price to possibly get back into the 120/21 area if buyers can maintain momentum. Happy Friday, all. We hope everyone has a lovely weekend and good trading.
EIGHTCAP:USOUSDLong
by Eightcap
Could we see Oil retest 122?Thanks for stopping by. We hope the community is having a lovely Friday. Today our focus is on USOUSD (Oil) as price finished yesterday’s session with a commanding reversal bar. After trading over 2% lower, buyers not only took hold but ended the session with a solid 3.83% gain. Yesterday’s session appears to show that buyers are still very active, and for now, price is not comfortable trading below 114.77. The move maintains the current trend, but we want to see further confirmation to suggest that the trend is set to continue. If buyers can reverse today’s selling and beat 119.50 minor resistance, which also holds yesterday’s high, we will then be looking for the current trend to continue with a possible new test of 122 or above. A failure to break yesterday’s high and minor resistance in today’s session could be seen as a small warning to buyer strength. Good trading
EIGHTCAP:USOUSDLong
by Eightcap
123 Pattern building on the US30?We hope the Tradingview community are having a great day. Today we have been looking at the US30, and we can’t help but noints the solid-looking trend break on the current upswing. This has us thinking, could we see a 123 pattern that sets up a 2nd upswing and confirms the current leg higher as a new short-medium-term uptrend? We have the V shape pattern that’s nice to see in reversals. Next, if we see further selling develop today and tomorrow, we will start looking for a new move from buyers that breaks the last high, confirms the 123 pattern (HL), and suggests that this upswing could be a new trend. Until we see further selling, we will continue to wait. But if the above does happen, we will be looking for breaks of the high to possibly set up new longs. If we see a new high today’ we will be waiting, and if selling breaks below 31,700, we will also be waiting.
ULong
by Eightcap
NDX100 sellers are struggling to beat 11,780 for nowHello TradingView community, today’s video update is more to highlight an area as opposed to looking out for a potential set-up. Tech stocks have been having a hard time of it lately, but we are seeing and watching an area between 11,780 and 11,550ish. The bottom is not exact, but after looking at the NDX100 you will see the point being made. This area, for now, continues to reject sellers and continues to present as demand and possibly support for buyers. It’s no more than a level of interest for us at the moment. We could see price continue to hold there and perhaps push at a new move higher, or we could see sellers railroad the area. The key for us will be if this level can continue to hold. If so, we will look for further price action to start thinking and looking for new ideas. Good trading.
N
by Eightcap
USOUSD Oil, continuation higher watch.Good morning/good afternoon TradingView community. Today's video idea is focused on oil as we saw a solid reversal yesterday sellers did their best to get a new leg lower going. Buyers not only stopped the run but put in a solid reversal bar that finished above the 50% point of the previous lower bar. This action has us thinking, could this be the start of a new trend continuation? We are watching to see if buyers can break yesterday's high. A break could be the starting point of confirmation of this idea. The MA and CCi both support further buying, but we really want to see yesterday's high beaten to show that buyers retain momentum. Please check out our video for more detail on our trade idea. Good trading. We hope everyone has a great weekend.
EIGHTCAP:USOUSDLong
by Eightcap