Sublime_Trading

Sublime_Trading

In the previous post on the S&P 500, price appeared to be moving fast towards the all-time high at $4238, but it has taken longer than expected to get there. The pullback has turned into consolidation but used the 20 simple moving average as support, which did help price move higher towards the end of last week. The monthly candle for May closed with an...

Sublime_Trading

Microsoft is following a pattern of trend then pullback/consolidation followed by trend and so on. Although the pullbacks and consolidation zones do last a few weeks, this stock is a consistent mover, and just requires patience if a position is held. At the moment, we are seeing a trend in play, forming higher highs and higher lows with price now making its way...

Sublime_Trading

The S&P 500 is progressing well and after bouncing off the 50 simple moving average last week. The 20 simple moving average appeared to be acting as temporary support, but today we can see price is above this indicator. As mentioned in previous posts, we have support levels in the form of the 20 and the 50 simple moving averages and the $4000 round number, which...

Sublime_Trading

The recent declines in the market were just another profit-taking session for short-term investors. It may have sparked a lot of fear amongst investors new to investing, but savvy investors would be fully prepared for such events. The $4000 round number is also below, should price decide to move further down. This level may act as support, and further down we...

Sublime_Trading

Bitcoin has been making headlines throughout this year, mainly due to the 123% growth we witnessed from the start of the year to its peak in April, almost reaching $65,000. As is the case during strong moves, we will experience a correction, and Bitcoin appears to be doing just that. We now need to establish levels of support that price may bounce off. Support...

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Palladium had a nice run between 2018 and 2020 with a rise of 245% during this period before the Covid-19 pandemic hit price. From that point, price created an all-time high at the time of £2875, then there was a sharp decline to near the $1500 round number. The round number and the 50 simple moving average cushioned the fall and gave price enough support to...

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Friday’s candle confirmed a continuation of the uptrend with a break and close above the previous high. Record highs are consistently being made in the S&P 500, and we could go on to see a trend lasting the rest of the year. The current trend is using the 20 and 50 simple moving averages as support. The most recent pullback came down and bounced off the 20 simple...

Sublime_Trading

The S&P 500 continues to trend well and has been making use of the 20 and 50 simple moving averages as support. On April 1st 2021, price finally broke above $4000 which was anticipated to be a potential strong level of resistance. Price broke through with ease, forming a linear move to the upside. A pullback is due as price has seen a nice move upwards, so some...

Sublime_Trading

Palladium should not be ignored even if there are strong moves happening in other markets because this commodity has the potential to trend well long-term. The trend between January 2016 and February 2020 saw a 542% move to the upside allowing for the accumulation of simple profits during that period. As expected, price went into consolidation following such a...

Sublime_Trading

Although Bitcoin is also creating new all-time highs, Ethereum is showing more momentum over the last few days. From December 2020 to February 2021, Ethereum moved up over 300% before going into a period of consolidation from February 2021 to earlier this month. The resistance for the consolidation zone was around the $2000 round number. Following a breakout to...

Sublime_Trading

The journey to $4000 was a fairly smooth one from the start of this year and the S&P is now trading comfortably above this level. $4000 has now switched from resistance to support. We have seen a nice clean move to the upside over recent days, so we can expect to see a pullback before a continuation. Price has the 20 simple moving average which coincides with...

Sublime_Trading

The bull run has been consistent in Bitcoin, and price has formed some neat pullbacks along the way up using both the 20 & 50 simple moving averages as support. The most recent pullback came down to tag the 50 simple moving average before heading back to the upside. On the way up, price has started to slow down and may be starting to consolidate. The support and...

Sublime_Trading

The S&P 500 is now comfortably sailing above $4000, which we anticipated to potentially act as strong resistance. With price now above this level, we need to see what price will do next. Will price continue to trend upwards, or will price come down and find support at $4000 then move back up, or will price move back below this psychological round number? One...

Sublime_Trading

The FTSE 100 has failed to break and close above the February 2018 low at 6536 for a number of months now. You can see the December 2020 candle and the candles for January and February 2021 traded above this level but ended the month by closing below this level. With one more trading day of the month left to go, we may well finally see that close above 6536 and...

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Price broke above the February 16th high at $3950 on March 15th, almost a month later, but then pulled back to the 20 & 50 simple moving averages. The moving averages held strong as support and helped to push price up through $3950, once again making its second attempt at reaching the $4000 round number. Right now, price is between support and resistance and...

Sublime_Trading

Palladium failed to hit the $3000 mark during the bull run that ended in early 2020. Price created an all-time high at $2875, which occurred just before the peak of the global pandemic and was followed by a decline. The 50 simple moving average on the weekly timeframe was there to cushion the sharp fall and has been acting as a ladder ever since, slowly helping...

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In July 2020, price was making good progress in Silver after moving above a previous high at $21 to go on to reach a high of $29 the following month. Ever since that high was made, price has been in consolidation and has been struggling to move above the $30 round number. Price has been in consolidation for seven months now and holding in between $21 & $29. On...

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This week the price of oil hit a strong level of resistance and failed to continue trending and has since reversed and is currently forming a pullback. The resistance level price hit is based on the April 2019 high at $66.58 and has held strong ever since. The last time price traded above this level was in October of 2018. As price is pulling back, we need to...