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UNG - Natural Gas ETF - Potential Double Bottom Support PlayUNG (US Natural Gas ETF) has formed a double-bottom price pattern on the Daily chart. The Price has found temporary support above $8.21. Support Price Targets are: $8.21, $8.16, $7.72, $6.11. Resistance Price Targets are: $8.99, $9.93, $10.97, $11.97. UNG etf does not always correlate & follow technical analysis charts. Be aware of global fundamental news changes regarding energy assets (government policies, corporate policies, supply & demand, etc).
AMEX:UNG
by NoFomoCharts
S&P500 - When will the upside finish?From a while we have been following the idea of SP500 following a double zigzag to the upside targeting 4300+. We believe this upside to be temporary as per the structure of the downside leg from January's top and the low volume of the recent upside. In this previous post we outlined the idea of the last C wave of the second zigzag to be about to start, and a possible microcount is showed in the main chart. The microstructure of the last bounce suggest it to be the beginning of another leg up (5-wave). We will therefore search for another long entry in micro wave ii, ideally with a retest of the greenzone. A breach of 3900 will suggest the bearish scenario and the possibility of the primary wave (B) to the upside to already be finished. We will update below. Happy trading!
U
by GMR-Capital
S&P 500- In the target boxHello traders! As per previous posts, we believe the SP500 to be in a primary wave (B) to the upside correcting the donwtrend from January's 2022 top. Here is the count on the daily time frame: Price action shows this primary wave (B) unfolding as a double zig-zag. The structure of the last decline from 4194 seems a 3-3-5 that would complete wave B of the last zig-zag, thus providing a setup for trading the last leg up of primary (B) to 4300+. From a pattern perspective, we can see the bearish wolfe wave target at the main downtrendline in blue. Will search from long setups lower in the green target box and will update below. Happy trading! GMR
U
by GMR-Capital
2
A brief history of DXY and the RSIThere are just some of the Key points on the chart but the real trick is to watch the RSI here ( the blue line above the US inflation index at bottom of chart) The US inflation indicator shows RED after 1995, when inflation is above the 2% dictated by the FED as Good. Inflation peaks are marked on chart with thin solid vertical lines. Compre these to RSI and PA levels The USA was in an inflation explosion from 1979 to 1984 and it reached a height of 14% before turning down The Thing to note here is the value of the $, as inflation rises, so does the value of the $, logically I suppose. As inflation is fought with higher interest rates ,the $ becomes a money earner, for the banking industry and savers Look at the RSI, See how it rises, Ranges and then eventually dips Then RSI Ranges, as does the $ till we get to July 1995 and the Barings banks Saga. This was a banking collapse and yet, Look. the $ GAINS value and RSI drives higher, Tops out and Drops, Then again in 2008, another banking crash, this time Leman Brothers cause a Loan repayment Surge, bit like a bank run Again, at a time of Stress, the $ Pushes up in value, RSI Runs high and Tops Since then, RSI has remained mid / high and topped out again in July 2022 Since then, it has retraced and has recently tried turning again But now, the $ has less demand globally as Countries around the world Stop using the $ as international trading currency, including Oil So the question is, Where for the $ now Technically, It has been up in the higher range RSI for a long time, inflation is High and as we can see from the past, PA tends to drop
TVC:DXY
by Orriginal
easyMarkets Dow Jones Daily - Quick Technical OverviewAfter a recent decline, the DJIA index found support near the 32700 area, which is near the lowest point of December. If, eventually, that support area surrenders, this could clear the path towards the 31740 zone. Alternatively, a break above a short-term tentative downside resistance line, drawn from the high of February 14th, could help attract the bulls back into the game. More of them may join on a move above the 200-day EMA. Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EASYMARKETS:DOWUSD
by easyMarkets
S&P500 - Temporarily exhaustedHello traders! As presented in previous posts, we believe that price has showed to be in a primary wave (B) to the upside to correct all the downtrend from January 2022 high. Price is likely to ungoing the last leg up of this upside correction. Low volumes and over entusiasm about the soft landing narrative suggest us that this rally can go up to 4300+ before reversing, but we do not take higher highs as our base case. However, price arrived at a big resistance, with the blue wlfe wave still valid, and managed to exhaust the upside steam creating multiple divergences e lower lows. Also, VIX seems to be about to breakout a bullish wolfe wave : We sometimes get insights by looking at VVIX, which is the same algorithm of the Vix applied to the VIX itself: Here we can see that VVIX already broke out, suggesting bullishness for the VIX and bearishness for the index. We are therefore short from @4152. Our stop loss is already placed on entry. Our first target is 3940, we will re evaluate the price action if we get there. Breaking 4090 confirms more downside. Happy trading!
UShort
by GMR-Capital
2
S&P500 - Tracking the upsideHello traders! In the previous post we explained our two different scenarios. However, since price has taken out 4136 and the main descending trendline, we are now considering only the bullish scenario and thus we believe to be in a primary wave (B) to the upside targeting 4300+. This primary (B) is unfolding as a double three, and with last ABC labeled on the main chart. Price took the most bullish possibility, that we were not expecting, so our previous short trade was stopped out, but thanks to our risk management rules the loss was reduced and we are still positive in the month of February. Bigger picture We will just track and monitor the price action spotting possible setups. Happy trading!
U
by GMR-Capital
5