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S&P Showing Signs of Strength!The 20 simple moving average is proving to be a strong level of support for the S&P 500 since the uptrend which began on the 23rd March 2020. On Wednesday of last week, price did decline below the 20 simple moving average but by the close of business on Friday, the sellers lost control and the buyers were able to close the day with a bullish bar. The analysis remains the same from last week as we are still waiting for price to break above strong levels of resistance before looking for long opportunities. These resistance levels are the 200 simple moving average, the $3000 psychological round number and the previous resistance at $3027. This is a strong cluster of resistance and with a break above these levels, the market is telling us that conditions are good to start buying again. Success in trading comes from doing nothing when there is nothing to do and taking full advantage of opportunities as soon as they present themselves. Right now we are still waiting and we will be ready to place positions once the right setups occur. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Apple Looking Good Historically!As the S&P 500 continues to show strength, we can see that stocks are showing signs of strength as well and one of them includes Apple. Apple, like many stocks, suffered a huge decline in February and March of this year as a result of the pandemic, suffering a 35% decline but it has now recovered by climbing up 47%. We experienced a bullish April and so far in May price has moved up 2,700 points and may move up a lot more by the end of the month. Price has moved above a major resistance level which is now support at the $300 round number and is now approaching the current all-time high. The all-time high is from the January 2020 high which stands at $327. Things could get interesting if and when price reaches this level because if it can successfully break above it, we should see a strong uptrend unfold. The markets are looking good right now and they may continue to do so but we always have to trade with caution. As we are currently in a pandemic, the markets may still become volatile which is why we are standing aside for now. Once the S&P 500 breaks out to the upside then we will have the confirmation we need to enter long trades. To get a better understanding of our approach then register for our free 4-Part Series with the link down below. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:AAPLLong
by Sublime_Trading
The S&P 500 Approaching 3 Major Hurdles!It is coming up to crunch time for the S&P 500 as it approaches a pivotal point that could determine the next move in the markets. From the 23rd March 2020 low at $2,191 price has climbed up 34% which is an extraordinary recovery considering how fast price fell in February & March of this year. On the surface, it appears that price will continue the bull trend but on closer inspection, there are some hurdles in the way of price, 3 major ones to be exact. We have the $3,000 round number which is a strong psychological area of resistance and around that level we also have the 200 simple moving average. This moving average determines our trend bias and if price can move back above it then we will look for long opportunities in the markets. We also have the resistance from the 26th July 2019 high which is above price. Price may reverse at this cluster of resistance but if it manages to break above this level then we are likely, but not guaranteed, to see a resumption of the bull trend. The reason being is if the buyers are strong enough to gather enough momentum to break through these obstacles then they should have a simpler job pushing price higher to create new all-time highs. We shall watch the markets over the next few days and weeks to see how things play out. Whether the market moves higher or declines, we shall remain ready to take long or short trades. You can find out more about how to do this in the link for our 4-Part Series down below. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPX
by Sublime_Trading
The FTSE 100 Holding At SupportThe FTSE 100 has been held up by a strong level of support over the past couple of months. February 2016 created a low at 5499 which was retested in March and April 2020 and going into May, we want to see momentum to the upside. Identifying major levels of support in advance is very useful because it will give you an objective view of the markets, it also prepares you in advance for potential opportunities. In this case, we will be getting ready for shorting opportunities if price decides to trade below 5499. If price remains above support and begins to rise then we can prepare for long opportunities. Price is still below the daily 200 simple moving average (not shown) and we want to see price move above it, but ultimately we want to see price break above the current all-time high at 7903 before looking for long opportunities. For now, we will continue to stand aside from entering positions in stocks while we preserve our capital. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:UKX
by Sublime_Trading
The S&P 500 Finding StabilityThe S&P 500 is now up 28% since the sharp decline we saw back in February/March 2020 following the COVID-19 pandemic. This has been a good recovery for the market so far but there are still some hurdles on the horizon. Price is now comfortably above the 20 simple moving average and is finding support there as well. If the 20sma holds strong as support then it may give price another boost of momentum to the upside. If price finds strength then we want to see it break the major levels of resistance in its way. The first one is the $3,000 round number which is a strong psychological zone of support/resistance. The next one being the high from 26th July 2019 at $3,027 which lies around the same area. With price breaking these levels, they should turn to support and give price a base to climb even higher. It is best to stand aside for now as anything can happen. Waiting for breakouts will give us that extra bit of confirmation that the uptrend is resuming. If price chooses to decline further, then the breakdown of support levels will confirm a bear trend is in play. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPX
by Sublime_Trading
The S&P 500 Proving Stable For Now!Last week the S&P 500 was showing near-term weakness and appeared to be moving down towards the weekly 200 simple moving average. It started to show strength by the end of the week and closed with an indecision candle. This week, we want to see further strength to the upside and for price to move up towards the $3,000 round number. This is a psychological area of support & resistance. This index has recovered well so far from the effects of the pandemic, rising up 29% following its sharp 35% fall in February & March 2020. With price looking stable now, we want to see a consistent rise continue over the next few months and even longer. We still have the 200 simple moving average above price on the daily timeframe and this may form strong resistance, preventing price from advancing so we need to see how price reacts to this area. The more time we give price to move, the clearer the overall picture will be. We will be able to identify which direction price is heading and allow us to position ourselves for the next trend. As for now, we want to continue to stand aside from taking positions in stocks and preserve our capital. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Amazon Surges During The PandemicAmazon has had a nice run from 2014 to 2018 where we witnessed a 645% price rice from $274 to $2,050. Price eventually became exhausted and began to form a long-term period of consolidation where the buyers and sellers have been trying to establish dominance over each other. The resistance level of the consolidation zone also coincides with the major $2,000 round number which is a strong psychological level of support/resistance. In early February the buyers were able to give price a strong upwards push which saw price briefly escape from the consolidation zone. Soon after, price reentered consolidation as the sellers tried to regain control. The current pandemic has forced millions of people to remain indoors and online businesses are seeing growth in their shares and Amazon is clearly one of them. On the 14th of April, the buyers gave price another push to the upside which has seen price go on to create new all-time highs and so far price has remained out of consolidation. If we start to see price pulling back, we have the $2,000 round number as a major support level below price. If price can remain above consolidation and start a long-term uptrend then we may see a repeat of the 645% trend we saw in the past. Amazon should definitely be on your watchlist but bear in mind this is an expensive stock that may not be suitable for all account sizes without increasing your risk. It may be worth just looking at cheaper stocks. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:AMZNLong
by Sublime_Trading
The S&P Still Above The 200smaThe S&P 500 has had good growth in the last few weeks but the momentum has now slowed down and we are starting to see some weakness in price. This may be a bullish pullback or we may see a continued decline in price. For this reason we are standing aside from taking trades for now at Sublime Trading as we can not predict the next move, but only act once we see trends start to form. Price will head towards the 200 simple moving average if the decline continues and this area may act as a support level. If price breaks through the 200sma then we have the December 2018 low at $2,346 which is a major support level. As for now, price is above the 200sma and as long as it remains above it, we should see price resume the overall 11-year bull trend. Along the way up, price may encounter some turbulence at the $3,000 round number. A break and close above the current all-time high at $3,393 will confirm a continuation of the uptrend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Crude Oil Smashes Record Lows!Crude Oil made, never before seen, historical lows as price not only fell below $0 a barrel but also went into minus. The lowest oil prices have ever fallen to in the past was a low of $9.75 which occurred back in April 1986. Flash forward 34 years and price has easily sliced through that historical support level. The decline happened as the May oil contracts were expiring. The June contracts went on to open above $15, but we are continuing to see weakness in price. As the entire globe is in lockdown, the demand for oil is nowhere close to where it used to be. It may get there once the lockdown is lifted but as for now, the effects may continue on to be negative for oil. The positive thing here is that price is now trading back above the previous all-time low at $9.75 which may continue to act as a strong level of support. If price can find a base at this level then we should start to see bullish momentum over the long-term. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NYMEX:CL1!
by Sublime_Trading
Gold May Be Finding Support!Gold has experienced a lot of volatility recently and mainly due to the current health pandemic but price appears to be gaining some order now. Since May 2019, price has risen 37% but hasn’t formed the neatest of trends. There have been periods of pullbacks such as the period from the 4th September 2019 to the 6th January 2020. The sharp decline, which was a result of the pandemic, began on the 9th March 2020 and fell by 14% from the high at $1,703. Price quickly found bullish momentum and has since broken and closed above the previous high and is currently testing it as support. If the support level holds then the buyers should gain more momentum and push price even higher. We now have to wait and see how price reacts going forward and get ready to take long positions at the right time. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
S&P 500 Still Trying To RecoverThe S&P 500 has made a good recovery so far since the declines from February & March of this year, but it still has some way to go before we can confirm the resumption of the bull trend. The December 2018 low is a strong level of support which helped to push price back up and through the 200 simple moving average. So far this week we are seeing an indecision candle on the weekly timeframe so it is anyone’s guess which direction the market will move next. If price moves higher then it still has to first encounter the $3,000 round number which is a psychological area of resistance. If price moves lower then we have the 200sma below price which is a strong support level. If price is able to trade below this level then we may well see further moves to the downside and a potential bear market. We don’t want to predict the next move because there is the potential to lose a lot of capital. We want to allow price to dictate the next move then take positions once a trend is established. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPX
by Sublime_Trading
The S&P 500 Challenging the 200sma Again!The S&P 500 appears to be making a comeback following the 32% fall in Febrauary and March 2020. But the probable comeback is still in the early stages where there is uncertainty. We can clearly see from the chart that the fall was caught by the December 2018 low at $2,346. After price hit this support level it quickly reversed back to the upside. Two things can happen from here. Price might be forming a bearish flag which means that the current move up is merely a pullback which should then be followed by another move down. Or, price may approach the resistance level in the form of the 200 simple moving average and then resume the overall 11-year bull trend. Price tagged the 200sma last week but failed to penetrate it, but as it appears to be approaching the 200sma once more, it may just have enough momentum to push above it. These are interesting times because if we do see another move to the downside then we will be entering into the first bear market since 2008/2009. We are still standing aside from entering investments in stocks until we have more clarity based on price action and we are focusing our attention on the forex market which is currently active. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPX
by Sublime_Trading
Gold Finds Momentum From the 50smaGold is now making good progress after falling 14% from 9th March to 16th March 2020. After moving below the 200 simple moving average, it was unclear whether price was going to decline any further. On the 23rd March, price returned back above the 200sma where it was finding a base and the bullish momentum on that day was enough to push it above the $1,500 round number. The momentum slowed down on the 26th March when price started to pull back but the 50sma was there to provide some support. Since bouncing off the 50sma, price has regained momentum showing further strength to the upside. If we continue to see bullishness in price then the next area of resistance is $1,703. This is the high from the 9th March. A break and close above this resistance will confirm a continuation to the upside. The next level we would want to see price break through is $1,920 which is the current all-time high. As for now let us see how price interacts with the approaching level of resistance and then invest accordingly. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Palladium Rests Before It Makes Its Next MovePalladium trended really well from May 2019 to February 2020 and was set to reach the $3,000 round number but the current pandemic had other plans for the economy. We soon saw a sharp decline in price, falling 47% in under 3 weeks, wiping out 6 months of gains in a fraction of the time. We are now seeing a different kind of behaviour in this commodity and price has become unpredictable. This may be due to the fact that price may be entering consolidation following the strong bullish trend. During the trend, price used the 50sma as support to help it gain momentum to the upside, but now the 50sma has turned to resistance which may help to force price down. If we continue to see weakness then the next area of support is the $2,000 round number followed by the 200sma. Because we are seeing uncertainty in Palladium, the safest option is to wait for a break and close above the current all-time high at $2,875 followed by the $3,000 round number. While this commodity sets up for its next trend, which may take a while, we are focusing our attention on forex pairs that are trending and we are also potentially looking for shorting opportunities in the stock market. We will be looking at some shorting opportunities in our free Facebook group and we also cover this in our 4-Part series from the link below. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
4
S&P 500 Undecided On Its Next MoveThe S&P 500 suffered over a $1,000 drop in Febraury through to March 2020 and appeared not to be slowing down. Price even closed below a major support level from December 2018 at $2,346. This was an indication of further weakness to come but you can never predict what price will do next which is evident here. Price quickly reversed back and is currently showing strength to the upside. With such a large drop in such a short period of time, price has not reached safety just yet and we may potentially see further weakness which is why we continue to stand aside from investing in stocks. Before taking long positions in stocks, we first need to see the S&P rise and trade above the $3,000 round number which is a psychological area of resistance. If price can confidently move above that area then this will indicate potential further strength in the market. Anything can happen going forward, and if we see price trade back below the support level at $2,346 then we will prepare for taking shorting opportunities. We will be looking at some shorting opportunities in our free Facebook group and we also cover this in our 4-Part series from the link below. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPX
by Sublime_Trading
S&P 500 Breaks Major Support!The global markets have taken a turn for the worse lately and the S&P 500 is no exception. Since 2009, the monthly timeframe has been showing higher highs and higher lows. When a low is broken then this usually indicates that the prior trend has come to an end. The weekly timeframe shows that price has broken and closed below a major previous level of support at $2,346, indicating a potential end to the bullish trend and the start of a bearish trend. If a bear trend establishes itself then we can expect to see weakness in stocks across the board. In conditions like these we want to look for the weakest stocks once shorting opportunities start presenting themselves. We will have a clearer picture once the candle for March closes on the monthly timeframe. If March closes below $2,346 then this will further reinforce that the trend has ended. The first major support level below price is the $2,000 round number which price may gravitate towards going forward. We will be looking at some shorting opportunities in our free Facebook group and we also cover how to do this in our 4-Part series from the link below. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXShort
by Sublime_Trading
Gold Attempting A Recovery!Since Gold suffered a sudden decline from the 9th March 2020 high, price didn’t look like slowing down until it approached the 200 simple moving average. Price hesitated at this support level at first but the sellers forced price to move below the 200sma. Price not only had the 200sma as resistance at that point but also the $1,500 round number. With such a strong cluster of resistance above price, it appeared to be facing a huge obstacle if it was going to be able to regain some bullish momentum. The start of this week is proving to be on the side of Gold so far but with the current market conditions, things can be subject to change. Price has not only moved above the 200sma but it is also trading above the $1,500 round number. We also have another hurdle not too far above in the form of last year’s high which stands at $1,557. This level has been broken before and with enough bullish momentum, it can be broken again. Going forward we want price to make a gradual recovery from the recent declines and a break and close above the current high at $1,703 will confirm a continuation of the bullish trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Has The S&P 500 Formed A Support Base?The S&P 500 suffered a heavy blow when it started to plummet 29% from late February 2020 to where price currently lies. Despite recent events, the market is still looking bullish overall and will remain this way unless major areas of support are broken. This Index has been in an uptrend since 2009 and currently has an all-time high of $3,393 formed on February 19th 2020. Due to recent global events, the buyers failed to keep price from declining and fear swept through the markets causing a near-vertical drop. The uptrend is still intact for now as the S&P is creating higher highs and higher lows. The first indication that we may be entering a bear trend is if a previous low is broken. The previous low, in this case, is from the low of December 2018 which stands at $2,346. A break below this level will indicate the potential start of lower highs and lower lows which is the pattern for a bear trend. If price has found support then we want to see price find momentum to the upside. At the moment, price is above the $2,500 round number which is also acting as support. Right now, the near future in the markets in uncertain which is why we want to stand aside until the dust settles and there is a clear trend direction. Let the dumb money fight it out and only look for positions in stocks when the smart money sees high probability investing opportunities. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPX
by Sublime_Trading
Gold Takes A Dive!Gold was on a strong move to the upside since finding support in August 2018 and rose by 46%. All trends come to an end at some point but Gold has recently come to a sharp halt. Despite the recent decline, due to the recent health epidemics that are affecting the global markets, the trend may not be over just yet. Price created a high at $1,703 on March 9th 2020 but has since declined by over 12%. At first glance, things don’t appear to be going well for Gold but price has now found comfort at a support level which may stop further declines. There are two levels of support holding price up. The first one is the 200 simple moving. Price did trade below the 200sma but has now moved back above it. This gives us an idea that this area may hold strong going forward. The second one is the $1,500 round number which is a psychological area of support which price struggled to break through in 2019. It appears to be causing a problem for the sellers now and helping to assist the buyers in keeping price up. Right now the market is rattled by recent global events but once the dust settles and if Gold remains above support then it may not be long before we see a resumption of the uptrend. We need to stand aside for the meantime until we see further confirmation of a continuation of the bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Gold Is Climbing Out Of Consolidation!Gold is lagging behind Palladium in terms of price and growth since 2016. However, Gold has seen consistent growth and has been reliable for many decades and normally trends for many years at a time. After a long-term trend and peaking at an all-time high of $1,920 in September 2011, price started to decline over a period of 4 years. The decline saw a 45% move creating a low at $1,046 in December 2015. From September 2011 to the present day, price has been in consolidation. A break and close above the all-time high at $1,920 will confirm a continuation of the uptrend as price would be trading outside of the consolidation zone. Despite price being in consolidation, we can see a bullish trend is in play on the lower timeframes which have allowed us to enter positions which are all currently in good profit. We will continue to compound on our positions if we can get risk-free before major levels of resistance above. To be conservative, you can look for opportunities if and when price breaks and closes above the all-time high and the $2,000 round number. See below for more information on our trading techniques and how we will continue to enter positions in Gold. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Palladium Resting At The 50 Simple Moving AveragePalladium has seen a strong rise since August 2019 with nice trends ranging from 18% to 38% following periods of pullbacks. This has been an overall growth of 106% over a period of 7 months. As with every trend, there will be pullbacks along the way and we are experiencing another one at the moment. When price pulls back, we always want to look for areas of support that price may come towards. Price usually bounces off areas of support but if support levels are broken it may indicate further weakness to come. Price has pulled back to the 50sma which is currently holding and helping to keep price up. The last time price hit the 50sma was in November 2019 and we saw a strong trend that followed. If price can do the same going forward then we need to see momentum to the upside which can push price above the $2,500 round number. Followed by that we need price to break and close above the current high at $2,875 and the $3,000 round number. If these levels are broken then we should continue to see Palladium soar to even greater heights. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
S&P 500 Back Above $3,000 After Coronavirus Scare!The coronavirus infected the markets last week, amid fears of a potential worldwide major outbreak and the possible effect that may have on the economy. In one week, price fell by over 10% which is a sharp decline in such a short space of time. The fall was only saved by a strong previous level of resistance turned support, formed from the high of 17th February 2018 at $2,940. Price has made a sharp reversal to the upside so far this week, also trading above the $3,000 round number. Price has some way to go before it can reach the current all-time high of $3,393 set 2 weeks ago, but price may head back up with a similar speed at which it declined. Going forward we want to see price remain above the $3,000 round number and we want to see higher highs and higher lows forming on the daily timeframe. This will indicate that the buyers are in control but a break and close above $3,393 will confirm a continuation of the uptrend. We still need to stand aside until the market confirms the bullish trend is back in play. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Palladium Rescued At $2,500!Palladium is proving to be resilient as it is finding strength after a sharp decline last week. The $2,500 round number has come to the rescue for the buyers and it is acting as a strong level of support for price. In January 2020, this round number was acting as resistance and forced price to pull back and now that resistance level has turned to support. The fear of the coronavirus spreading caused wide speculation in the markets last week and Palladium fell by over 350 points. Now that price has found support at $2,500 we are starting to see strength back in this commodity and we just need more momentum to see price push its way above the current all-time high. A break and close above the current all-time high at $2,875, formed on the 27th February 2020, will confirm a continuation of the uptrend. Bear in mind that we have the $3,000 psychological round number not too far above that high. This may cause further resistance for price if it can reach these heights. Our multiple positions are currently still in profit and we are looking to compound once we see another breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
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