MarcoOlevano

MarcoOlevano

Global Gold shares have started the year on the bang so i thought i'd look at some of the local counters on the JSE. Sibanye Stillwater has carved a lovely rounding bottom since May last year and it finally has broken above the horizontal resistance around the R50 area. This should move to approximately R63 which would be the target of the rounding bottom. You...

MarcoOlevano Updated 

Massive inverse head & Shoulder breakout on this chart, supported by elevated volume. Got to hate the shoes - but hard not to love this chart. Lots of upside for relatively low risk

MarcoOlevano

Hard to be bearish on global markets when probably the biggest proxy for growth is showing really strong technical action. Dr Copper has broken out its triangle which has kept price action constrained and under the 200dma for the better part of 2 months. It has now also broken above the 200day moving average with higher targets in play

MarcoOlevano

B2Gold Corp with a lovely break over the neckline of this reverse Head & Shoulders pattern. Target out of the pattern should see it move to about $4.30 next.

MarcoOlevano

If you believe in Dow Theory then the fact that transports have not been able to make a new high compared to the August Swing highs, should make you doubt the new highs seen in the industrials. Normally this is a sign of underlying weakness so the expectation would be for further weakness to come in general equities.

MarcoOlevano

I did a clean chart on SPY as my original chart was quite cluttered but I think this gives a very clear view and why I thought this recent move higher into resistance was a very shortable area. There are 3 very important inflection points which 9 out of 10 times were going to get a reaction. These all come into play between 402-410 on the SPY 1) Orange line which...

MarcoOlevano

Keep an eye on vix holding onto the lower end of this triangle, might be worth a short term punt as you can keep your stop relatively tight. With SPY moving to new highs, vix hasn't managed to make a new low, so this divergency might giving us a clue. Some divergence seen on RSI of the VIX chart as well as things stand as they are today

MarcoOlevano

All pointers on the chart. Rejected against 200ema and anchored vwap points. Trading < 200 dma's. Volume substantially declined on recent rally which shows weakness from the bulls. Biggest point of all is that the relative strength against the SPY has broken down, so this chart spells weakness everywhere for me. Unless we can get back above $152 i think this...

MarcoOlevano Updated 

Meta seems to be reversing off the bottom of the channel which has held meta price action lower since the February gap down on results. This reversal is coinciding with news that the FCC boss mentioned that the US Should ban TikTok - widely known to be one of facebooks fiercest competitors in the space. Let's see if we can get some follow through on this move..

MarcoOlevano

Dollar index has bounced off the 200dma/ema bands and also formed divergence on the RSI. 108/109 next?

MarcoOlevano

After breaking the massive weekly support level at the $18000 zone after the FTX news, bitcoin has been consolidating under this support level in the form of a triangle continuation pattern. After breaking down below the triangle, BTC managed to break back into the triangle but seems to have found resistance at the intersection of the 50dma (4hr) & the high volume...

MarcoOlevano

Watch this level between 1.20 - 1.2150. this was a massive support level before the breakdown which saw Sterling almost move to Parity with the dollar. Recent dollar weakness and some political stability have pushed the pound higher but i think this strength will eventually fade with the pound weakening again vs. the dollar. A retest of 1.15 could be on the cards

MarcoOlevano Updated 

EURUSD has finally broken the downtrend channel we have been trading in all year. A logical target would be 1.04 if this is not a fake break out. This is also the first consecutive 2 day close above the 50dma since February this year (if there is no massive turn tonight). Let's see how we go. the 200 day moving averages currently sit at 1.045 and 1.05 and will...

MarcoOlevano Updated 

#USDZAR lots of indecision from the bulls & bears but the fact that we have had 3 lower highs and 3 lower lows on price in the last 3 weeks (weekly candles) suggests that the ZAR bears (USD bulls) are exhausted. I am expecting some rand strength in the next couple of weeks. First target 20dma at 17.17, but rising daily so 17.30 would be an approximate level to watch for.

MarcoOlevano

US 20 year Treasury Bond ETF has finally managed to break the steep downtrend (DT) channel. I think we can move up to the level of 102-103 where we have an open gap - anchored vwap from 1st August highs as well as the 38.2 fib. Also notice the bullish divergence on the lows

MarcoOlevano Updated 

Algorand has consolidated over the last week in the form of a falling wedge, which has broken out to the upside today. We are starting to see a slight uptick in volume today on the break which is encouraging. This should trade back to the previous highs seen in September of approximately 0.41. stop close below 0.30

MarcoOlevano Updated 

We are seeing Coinbase's price action constricting between both a triangle and falling wedge pattern. In my books if we can get a constructive close above $74 we could see this move back to early August highs at around the $100 mark. For confirmation, wait for the close above 74. More aggressive traders could accumulate between $66 and $70 using a stop loss below...

MarcoOlevano Updated 

ARKK still stuck in range of this bearish channel since bottoming in May. If you follow the anchored vwap from the recent high of the most recent rally, we are also starting to reject this Vwap. Additionally the 50dma is acting as resistance. Big resistance evident at $46 I think this will work itself lower and possibly retest the big horizontal support zone at...