Time to decideOil has been sideways for quite a while and unable to make a new high. Since Opec agreement doesn't seem to have any real effect, it seems that it is now ready for a new bear trend. Note how this two volume indicators show there's been more downward interest even before last daily high. Targets along the pitchfork channel.
Thanks for your comments.
Chaikin Money Flow (CMF)
Silver accumulationSilver price action has been quite flat for a few days now but there is an interesting fact to observe: it seems clear to be some accumulation in this area creating a solid support. You can see three different volume indicators all pointing upwards. OBV has been going up way faster than price and money flow index is coming back to bull territory.
This same feature is visible in XAUUSD
Weekly Doji for Facebook should affect next two weeks tradingIf you look at the weekly chart for FB, you'll notice that the weekly Doji's on 12/22/14, 3/23/15 and 4/20/15 all made lows three weeks after the Doji week. On the Doji 2 weeks ago on 5/18/15, Fb was lower the next week, it should be lower the following 2 weeks also imho. The average drop for the 3 previous Doji weeks was $4.97 from the Doji close to he low three weeks later. You'll notice that Chaikin money flow has also dropped on the weekly chart. A daily chart shows a sell using the stochastic indicator and also the Directional Movement Indicator shows FB is in a downtrend. Fb has been weak lately, unable to hold above its 50 day moving average and fell below the 200 day moving average briefly. I expect another test of the 200 DMA this week or next and a close below it. Last quarter revenue was sequentially lower than the quarter before and in the January conference call, the company said to expect revenue to decline 5% this year due to expenses and the rising dollar. I'm short Fb with June puts. I expect Fb to decline to 75.51 by June 12.