OMC (Bullish since 2015) is completing a triangle at a 0.5 Fibonacci level that also coincides with a long term support line for an upward channel. An upward break out of the triangle would make an excellent case for going long and looking for a move up to $89.50 (triangle resistance) or $95.00 if an ABCD pattern completes.
NEM is completing a descending wedge with support at a 0.5 Fibonacci level. In the event of an upward breakout, expect to see price rise to at least $46.00 (top of wedge resistance), but possibly $61.00 if price completes an ABCD pattern.
JEC (Bullish since early 2016) is nearing completion of a descending wedge at a 0.618 Fibonacci level. In the event of an upward breakout, expect a move up to at least $63.50 (top of wedge resistance), to $69.00 in the event of an ABCD completion.
TAP has been bullish for the last 4 years and currently completing a descending wedge at a 0.618 Fibonacci level with a solid (albeit, slightly inclined) support line at approximately $95.00. There seems to be a high likelihood of an upward breakout, which will probably be followed by a move at least to $112.00, but very possibly $123.00 in the case of an ABCD...
MAA appears to be forming a double top that's bouncing off of resistance from a triangle it's been forming since the middle of last year. Completion of a double top at approximately $98.00 would make a good case for shorting. For the more aggressive, you could short on a good indication that the second bounce (since early march) off resistance is complete. From...
Gold has been forming a head & shoulders pattern since the beginning of the year that peaked at resistance of a longer term descending channel. If we see a bounce down from the head and shoulders resistance somewhere between $1235 and $1240, that will make a good case to go short. If you're aggressive, you can short the bounce off resistance, and the more...
O is forming a descending wedge on the 1W with support at $54.00 corresponding to a 0.618 fib level, with an overall bullish trend since 2009. Price could bounce from either the 0.618 at $54.00 or the 0.786 at $49.00 (less likely, I think), before moving up to resistance at $72.00. If you're aggressive you could buy on a good signal that price is bouncing from one...
PSX bounced from support with a morning star candlestick pattern accompanied by a surge in trading volume on the same day. Expecting to see price move up to resistance at approximately $87.00.
DAL appears to have bounced off support from the descending channel that it's been trading within since the beginning of the year, with a solid engulfing bar at support accompanied by a surge in volume. I'm expecting to see a move up to channel resistance at $50.00
HST has been bullish since the beginning of last year, and trading within an ascending channel. It's currently completing a wedge at a 0.382 fib level. If it breaks upward, expect to see price move until ascending channel resistance somewhere between $20.00 and $20.50
Ford has been bearish since 2014, so if we see a downward breakout from the triangle, I'm expecting to see price continue downward to one year support at $11.00, with a possibility of continuing even further to support at the 4 year descending channel around $9.00.
DLTR is nearing completion of a wedge with a strong support level @ $73.00 for more than a year. If an upward breakout occurs, I'm expecting to see a move up to resistance at the top of the wedge @$99.00, continuing the 9 year long bullish trend.
AES is bullish since completing the inverted head and shoulders pattern at the end of February last year, and now nearing completion of a wedge with support at $11.00. Expecting to see a move up to resistance at approximately $13.00 if an upward breakout occurs.
Oil is continuing its move down from ascending channel resistance @57.00, and we can probably expect to see it bounce from support at or slightly below 48.00 by the end of the month, which will be a good time to go long and ride it back up to resistance around 60.00
Expecting AUDCHF to continue its move down from resistance in the long term ascending wedge before hitting support approximately @0.7440 and bouncing back to resistance @0.7800.
Expecting EURAUD to continue moving up until it hits resistance @1.4300 at the top of the long term descending channel, then continue back down to support @1.3700. Another possible support level is 1.3800, but I believe it's less likely that the pair will stop there.
Interesting side note: the pair completed an inverted head & shoulders on the 4H before...
Looking for a bounce off today's support at 1200 up to the downward channel resistance at 1240 before continuing the long term bearish trend at least down to December support at 1120, but possibly below 1100. The move up to resistance at 1240 before continuing down would also form a head & shoulders pattern within the downward channel .
