According to the Cosmic Channel Lite indicator, the price has broken a 2 day minor resistance level as indicated by 2 Cosmic Markers Lite markers, reversed down and stopped at another local Cosmic Rays Lite support. If the price rises above the last minor resistance level, the next major resistance lies around $28k.
After moving below the Cosmic Channel Basis Line the price fell until Cosmic Channel Lite Support and stayed hovering below that level. The current Cosmic Rays Lite resistance line is on its way down towards the price and is projected to meet it in the next several hours. This should be a key moment to decide the next major trajectory the price will take.
Price is approaching major 15 minute resistance where the long target is set at 22.2k. If this resistance is broken the upward potential is not limited by nearby minor resistance.
When levels overlap across timeframes, in addition to acting as a strong price "wall", the point of overlap often also acts as a price magnet, attracting the price to test its strength. This is the situation shown in the chart, where both resistance and support overlap across the 6h and 15m timeframes. The short position stop and target are set accordingly.
The nearest major Cosmic Channel Lite support level lies at 21.4k, where the short target is set. The stop is set minimally above Cosmic Rays Lite support, which the price has recently broken below.
Here are the main support and resistance levels on the little known but historically precise 23 hour timeframe, using the auto-generated short term levels of Cosmic Rays Lite and auto-generated long-term levels of Cosmic Channel Lite : 24.5 (short-term resistance) 23.5 (long-term resistance hasn't been broken since June 2022) 22.6 (short-term support)
Coinciding with talks of recession, the Baltic Dry Index (which can be thought of as the cost of international shipping of primary goods and so an economic indicator) is approaching the lows seen during 2020. With a 60% drop left to the 1D Cosmic Channel Lite support and Cosmic Markers Lite not yet flashing the strongest support signals the prognosis is...
Overlapping support levels across timeframes are good places to place short targets. Here the target is set at the closest of two such levels and the stop at the nearest overlapping resistance level.
Con allegations caused a sudden plunge in price, which dropped to the 15 minute Cosmic Channel Lite support. Considering the magnitude of the volatility, a rebound or flattening are two ensuing possibilities, with the latter likely given the nature of the news.
Several signals from 3 timeframes point to a $70 short target. The stop is positioned slightly above the 1h Cosmic Channel Lite basis line.
The 2h chart points show that if the price fails the current test of the Cosmic Channel Lite basis line from below, the next major support will be the top of the Cosmic Gravity support channel, where the short target is placed. Since the price is right below a major resistance level, the stop is placed only slightly above it.
The chart points suggest a short term bearish move may be likely with up to a 5% drawdown. The short target is at the extrapolated minor Cosmic Channel Lite support and the stop at the resistance.
The 6h, 1h, and 15 minute timeframes show the next concentrated support to be at $100.7 (thick red line), while the next minor 1D timeframe support lies at $100.1. The price hovering below the current 6 hour Cosmic BB SR support suggests further downward momentum.
The long target is drawn near the thick blue line which overlaps over major Cosmic Channel Lite resistances spanning 3 timeframes, showing a thick ceiling that may possibly bring about a large reversal.
UNITED AIRLINES HOLDINGS, INC price has mostly been below the 1D Cosmic Channel Lite basis line since the start of Corona but has now broken above it on attempt number 3, albeit for the second time since the pandemic began. The 15 minute chart provides the context needed to determine if this breakout will hold.
EURUSD is ranging inside a stable channel defined by both minor bullish and minor bearish signals over both timeframes. On the 1D timeframe the price is in a larger bullish trend with major resistance at "Basis line" level hovering under $1.15
High likelihood that a reversal will happen when the price touches the 1D Cosmic Channel LIte resistance line, or that line gets highlighted as the price enters the indicator's topmost internal level.
The chart points suggest a continued bearish move with the short target set at the 1D Cosmic Channel basis line and the stop set at the 1h Cosmic Channel basis line.