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Oil Gains Strength After API DrawOil has regained strength, rebounding nearly to highs again. We have blasted through all levels of resistance in the 82's and 83's, and are currently just below the high at 85.55. We seem to be hovering around 84.75, which has been tested and rejected before, therefore we are adding it as a new technical level. Oil appears to be in a sideways corrective pattern for the longer term, ranging from the high 70's to 84.75. If we are able to break out then 87.21 is the next target.
NYMEX:CL1!
by quantguy
1
Twitter bull & bust Casetwitter has recently made a sharp downside move towards 100EMA on the weekly chart which looks like will hold for a couple of upside sessions as of now as the market is over all in strong upside momentum with daily record close across the board. That being said, the over all picture for the company and stock looks a bit shaky with sharp sell off from the past week. if the stock does manage to climb back towards the 70/72ish area i believe it can still dive down towards the 2019 Area all over again. which will be an Ideal place to go long on this stock. but for Day traders this stock can be a real treat as the daily volume is high so the volatility is there to make money both ways. Personally i would go long with $48 as the stop loss area and $70 as Take profit and would be a seller at $70 with stop loss at $76 and all the way towards $30/35$ take profit.
NYSE:TWTRLong
by shaxrashid
Inside Bars On Bitcoin Suggest A BreakoutWe see that bitcoin slowed down recently with an inside bars pattern, but above the falling trendline which is actually trying to act as support now. An inside bar formation can bring the volatility back, but after a daily close above the Mother bar. This can then cause a continuation back to the highs On the other-side drop below the Mother bar, may suggest that weakness from Oct 20 will be more complex and tricky with potentially lower prices ahead.
BINANCE:BTCUSD
by ew-forecast
1
#WYNN MACAU LONGthis stock has absolutely been beaten down towards the all time lows and taking a position in this company at this level can give some good rewards. The parent company WYNN RESORTS has a household name in the US in Casino and resorts segment. the company has gone through some rough patch in the last 2 3 years primarily due to Covid restrictions around the world. the casinos and resorts were shut down due to which the business had faced significant losses. that being said, it is not a bad time to take a position at this point as the casino/gambling business is coming back on air with covid restrictions being lifted all over the world now.
OTC:WYNMFLong
by shaxrashid
Education Excerpt: Simple Moving AverageSimple Moving Average The origin of inventing the Simple Moving Average (MA) is not clear. Although, some of the first documented cases of its use date as far back as the early 20th century. Implementation of moving averages in technical analysis is one of the most successful methods of identifying trends. Moving averages are simply constant period averages - usually of prices, that are calculated for each successive period interval. The result of calculation is then plotted on the chart as a smooth line that represents successive average prices. Thus, the calculation of the moving average dampens fluctuations of price of an asset, making it easier to spot an underlying trend. Though use of the moving average goes beyond identifying trends. Support, resistance and price extremes can be anticipated by correct interpretation of the moving average. Crossover Generally, when the moving average with a lower period interval crosses above the moving average with a higher period interval it is considered a bullish signal. On the other hand, when the moving average with a longer period interval crosses above the moving average with a lower period interval it is considered a bearish signal. These crossovers can serve as specific buy and sell signals in markets that are trending. However, moving average crossovers tend to produce many false signals in non-trending markets. Furthermore, these same crossovers can act as support or resistance levels. Illustration 1.01 Picture above depicts daily graph of PepsiCo (Ticker:PEP) with 20-day SMA (blue) and 35-day SMA (red). With implementation of these two moving averages it is easily observable that prevailing trend is bullish. Crossovers between these two simple moving averages reveal where trend began (10th February 2017) and where it ended (7th July 2017). In addition to that analyst can identify price extremes when price deviates too far from its 20-day SMA. Length of the period Different lengths of moving average directly translate to the amount of data used in the calculation. Including more data in the calculation of the moving average makes each data per time interval relatively less important. Therefore, a large change in one particular data would not have as large an impact on the overall result of the calculation in comparison to if the moving average with a shorter period was employed. Hence, the longer moving average produces less false signals at the cost of revealing underlying trend sooner rather than later. Usually, the use of two moving averages with different period intervals is encouraged as opposed to use of a single moving average. This comes from the premise that when two moving averages with different period intervals are plotted on a chart, they tend to show two separate lines converging and diverging. Illustration 1.02 Picture above depicts daily graph of XAUUSD with 3-day SMA (blue) and 6-day SMA (red). Viewer can see that 3-day SMA copies price move more agressively than 6-day SMA. Illustration 1.03 Picture above depicts exactly same graph as is showed in Illustration 1.02. However, length of SMAs differs. Blue line represents 10-day SMA while red line represents 20-day SMA. It is clear that when length of SMAs was extended then SMAs produced less mechanical signals (crossovers) as opposed to SMAs used in Illustration 1.02. Calculation The calculation of the moving average usually involves use of the close price. Normally, 10, 20, 50, 100 or 200 periods are used and the calculation is conducted by creating the arithmetic mean of a dataset. SMA = (A1 + A2 + An) : n A = average in period n n = number of time periods Illustration 1.04 Picture above shows daily graph of Coca Cola (Ticker:KO). In this particular example trend was neutral and it is visible that crossovers between two simple averages produced many false signals. Disclaimer: This content is just excerpt from full paper that will be published later. It serves educational purpose only.
OANDA:XAUUSDEducation
by Tradersweekly
60