Sublime_Trading

Sublime_Trading

Blink and you can end up missing some big moves in Bitcoin which is taking on a life of its own. This instrument was showing signs of weakness in May this year where it fell to below $30,000 and hit the weekly 50 simple moving average. In July, the buyers came back into the market and have pushed price up 79% to where it currently stands at over...

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The S&P 500 continues to climb up the slope formed from the 20 and 50 simple moving averages. In the last post, price had broken above a previous high at $4480, and has now moved up another 1.5%. The trend in this Index is strong, and we can see a nice pattern of higher highs and higher lows forming here. It was only back in April when price was approaching the...

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If we take our minds back to May this year, we will recall the fall that Bitcoin and most of the cryptocurrency market endured. There was a lot of panic selling and buyers were scrambling to get into Bitcoin at a cheaper price as it had fallen from over $64,000 to just under $29,000. Price hovered around $29,000 from May to July until the buyers could build...

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Netflix is chilling at the moment and has been moving sideways now for a year now. We saw some fast growth in their share value following the peak of the pandemic, but the buyers have not been able to keep up the momentum. Consolidation periods usually follow strong trends but if the overall strength of the stock is still there, then price should be able to...

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Microsoft has progressed nicely since the last post a week ago, moving up 1739 points at the time of posting and still moving strong. Price has not made contact with the weekly 50 simple moving average since March 2020, but it has been using the daily 20 & 50 simple moving averages as support. We have been seeing deep pullbacks since 2020, but from June 2021 the...

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The July 14th high continues to act as support following the breakout that occurred on July 23rd. This was a strong breakout but it was not followed by a strong continuation to the upside. On August 3rd, the low of the wick came close to tagging the 20 simple moving average by 2 points. Despite the 20 simple moving average also holding price up, it appears there...

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Bitcoin formed a high at $42,000 on January 8th 2021, which was then followed by a pullback. Price then broke above that high to create a new all-time high at $64,894 on April 14th 2021. The buyers soon gave control back to the sellers, and in May 2021, price came down to $42,000 and used this level as support for a couple of days. It did appear that this level...

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The S&P 500 continues to use the 20 and 50 simple moving averages as support along the trend that is currently in play. On July 19th 2021, price pulled back to the 50 simple moving average yet again which coincided with a previous resistance turned support level at $4257. A nice clean bounce from this level took price above the previous all-time high at $4393...

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While Jeff Bezos is flying rockets to space his company appears to be setting itself up for its own take-off. If we look back at this stock, we can see that price was in consolidation from September 2020 following a 116% bullish run from March 2020. Such a strong move was likely to cause long-term sideways movement as the market would have become exhausted from...

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Price at the start of the week didn’t get off to the best start as Monday opened up with a gap-down candle. Not only did price gap down, but it also closed with a large bearish candle. On a lower timeframe such as the 5-minute chart, the drop would have looked a lot more frightening than it actually was. If you have been following our posts for a while, you...

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Since our last post on June 22nd, price has progressed really well. Back then, the all-time high at $4275 was yet to be broken. It did go on to break this level and right now price is up 2.57%. Price was also rangebound back then, hovering between a high of $4257 and a low of $4056. Since breaking out, price has formed a nice neat linear move up, creating new...

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Since our last post, palladium has made good progress, moving up $90 to meet the resistance from February 2020. Price is at an interesting point, because a clean break above and we should see price move towards the all-time high at $3017. The weekly 50 simple moving average has aided this gradual upwards move. The first break of $2875 was short-lived as price...

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Microsoft’s movement has been relatively predictable over the last few years, as you can see on the monthly timeframe. We have seen trends followed by consolidation/pullback, then trends again and so on. Currently, price is in the trend phase and there are also smaller areas of consolidation on the daily timeframe (not shown). The most recent consolidation...

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Palladium looks set to make another attempt at breaking out of the 16 month period of consolidation, which began in February 2020. A break above the consolidation high at $2875 was made in April this year, but that was short-lived as price returned back into the consolidation zone after being forced down by the $300 round number psychological resistance...

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The S&P 500 ended last week with a big bearish candle. The Dow Jones 30 also closed bearish with a gap-down candle. Price action today was important to give us an idea where price may be heading next. If we continued to see bearish moves today, then that would have indicated the potential end of the trend. But Monday and Tuesday so far have seen a nice reversal...

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Following the free fall we witnessed in Palladium last week, price has appeared to have found some form of support just above the 50 simple moving average. Price does tend to hit the 50 simple moving average, so if we see further declines, we may see price tag this indicator before seeing a continuation to the upside. In April this year, price had finally broken...

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Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and...

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The Nasdaq 100 was leading the way and trending stronger than the other main two US indices, the S&P 500 and the Dow Jones 30, during the pandemic last year and looks to be leading the way once again. This week we saw price break above the previous all-time high at $14073 but price has since retreated back below this level. If the week closes above $14073 then we...