MarcoOlevano

MarcoOlevano

Its no surprise anymore that OIL and energy stocks have been one of the only places to find some alpha this year. Even with oil taking a bit of a beating lately, looking at the technicals we are still in a very healthy shape for the time being with Brent Crude making higher lows within this triangle formation and well above its ascending 200 day moving averages....

MarcoOlevano

Things not looking good here for the ZAR. Dollar strength is most certainly not helping the ZAR's cause, but eskom is adding 'fuel' to the fire. I have approximate targets of 17.10 and then 17.90 for the Rand on the confirmed break of the resistance around 17.20 - 17.30.

MarcoOlevano

The monthly candle of the DXY closes today and looks like we will get a confirmed break out of the channel which has contained price for the dollar since December 2016. Last month the market tried to hold onto the channel but this months break would confirm the break to the upside. This of course has ramifications for many asset classes, as the DXY has a technical...

MarcoOlevano

200ema has provided solid support for energy names since November 2020. Will history repeat or is this time different?

MarcoOlevano

GBPUSD has been stuck between the upper band 1.42 and lower band 1.20 with the brief exception of a lower move during March 2020. We have now approached this lower band support and let's see if Sterling can gain some strength again relative to the US Dollar.

MarcoOlevano

I've used a log chart to get a better perspective of the total crypto market cap chart. According to my analysis, the 670-730bn Market cap value should act as a solid support zone. If looking to buy back into the crypto space, a reversal from this area could provide some confirmation that some sort of bottom could be in place. This level as shown by the red box...

MarcoOlevano Updated 

If you draw the anchored vwap from the important last significant swing low and high from 2021, the bands pretty much line up at the 200day moving average which has been a significant point of polarity for the total market cap chart. With price action seemingly stuck here for the last 3 days, the crypto market is at risk at halting recent upside from this level....

MarcoOlevano

200 week moving average is providing quite some level of support on platinum. Feels like the metal is building steam for another move higher? While price continuously traded below the declining 200wma in years before, for the first time in years we are seeing price hold up above this important average, while also seeing the 200wma pointing north which is...

MarcoOlevano

Feb 2020 resistance highs which preceded the March covid crash seems to have turned into support for now. Change of polarity or too early too call? We have also reversed and turned above the 200dma Interesting technical level to monitor

MarcoOlevano

Nice reversal off previous resistance (now turned into support) and 200 day moving average. We should get some follow through here to the upside. RSI now nicely oversold and should see a mean reversion bounce in short term

MarcoOlevano Updated 

the $1830 is significant support for gold and seems to be holding for now - monitor for a reversal higher 3 different levels provide support (1) 200 day moving average (2) uptrend line (3) $1830 was strong resistance in the months prior, now potentially turning into support

MarcoOlevano Updated 

For those who can stomach this crypto volatility, we have seen the market cap chart of the Alt coins bounce off $600mil this morning. Notice how important this support zone was in 2021 touching it multiple times and bouncing. Also importantly, this is where the anchored vwap zones come in using the December 2018 and March 2020 lows. This is no doubt an important...

MarcoOlevano

I think we are quite close to seeing a bounce in US Bond ETF's. With the 10 year falling back under 3.0% and bond charts in general showing lots of divergency between price and indicators, i think we can get a bit of a bounce here. Also some good volume coming in on the AGG US bond etf which shows interest emerging.

MarcoOlevano Updated 

After an almost 20% rally from its low the German DAX has run into a significant area of resistance. (1) Previous horizontal support @ 14900-15000 now turned into possible resistance (massive supply overhead) (2) Downtrend connecting the highs from the beginning of the year come into play here (3) Holding down on the 50day moving average (purple line) (4) Run...

MarcoOlevano

US10Y Yields Weekly Log chart been respecting this downtrend since 1981 with multiple touches of resistance. Will this downtrend line respect again? might see a short term reprieve in yields from this level - worth monitoring

MarcoOlevano

Few reasons why i think Nvidia could temporarily top here for a short term correction in price (1) 100dma has been sticky as support and resistance in recent times - testing it as resistance currently (2) Almost perfect symmetry in the length of this rally in comparison to the length of rally from January lows. (3) wicks on candle shows some seller strength as we...

MarcoOlevano

the $108 level was significant support for the TSM for the entirety of 2021. Massive accumulation zone which failed in early March. Interesting level to watch as a failure to reclaim this important level could result in further capitulation in the stock. However if we manage to break above, a false break could be seen as a positive sign for the counter going forward.

MarcoOlevano Updated 

Possible short around here @ $908, stop loss above $945 and target gap close around $848 (1.65 RR ratio).