The Dollar Index is looking good here, good price action and momentum but needs to deal with RSI resistance at 61.8 level. Backed off that level last time, so a move through there would be bullish.
Couple of observations. Firstly, approaching fib 0.382 retracement from the lows. Secondly, the daily RSI is at 78.6. Previously, this level acted as resistance in late April. So, it would be normal to expect CAKE to pause for a while at this level.
DOT - daily chart, very bullish. Worth noting that it's approaching fib 0.382 retracement level. Additionally, daily RSI is also approaching 78.6. On previous occasions when daily RSI reached this level, there was a pause for a while. So, it would be normal to expect a pause this time also.
Price action is bullish for $DJIA. Daily RSI (14) is at a critical resistance level @ 61.8. Dow came under selling pressure recently (Jun/Jul 2021) at this RSI level but when the index managed to break above and stayed above this level such as in Mar 2021, index saw sustained price increases. So, critical for RSI to break through this level.
2 hr chart of MRNA. RSI is at 38.2. That level acted as support before; let's see if shares can bounce off this RSI level.
DKNG – shares have been consolidating above the breakout level but needs to overcome a strong RSI resistance at 61.8 level. This level has been a problem in the past (Jun/Mar 2021 and Dec 2020). So, any significant gain in share price would mean having to overcome this resistance and hold.
Technicals are looking weak for TWLO. Failed to overcome resistance at the fib 0.236 level. Now runs the risk of losing the 0.382 level, around $360 which opens the door for a test of the daily 200 SMA, around $353.
Keep an eye on shares of Z which are at an important juncture. Share have price support at current level as well as RSI support around the 38.2 level. This RSI level provided significant support in the past, so RSI falling below this level would be negative. That said, technicals are weak, shares could be vulnerable.
COIN broke out of a consolidation pattern on strong momentum. Looks like higher prices ahead if crypto market remains strong.
The daily RSI is at 78.6 level. Last time when daily RSI was at this level, there was profit taking, so it would be natural to expect some reaction at this level.
After some profit taking at fib 0.382 level, then finding support at the 0.236 level, BTC broke above the 0.382 level. Momentum indicators are bulling. Next challenge is the daily 200 SMA, around 44,800. Beyond that, to the fib 0.618 level, around 51,400.
BTC is working through its previous high. Momentum indicators are still strong. Looks like it wants to ultimately challenge the daily 200 day SMA, around $44,800.
Strong move today. Formed a nice base at RSI 38.2 level. If it closes above $34 it will clear resistance at the daily 20/50 EMAs.
Weekly chart of MSTR. RSI is approaching the key 61.8 level, which acted as strong resistance on several occasions in the past. There was one instance when RSI 61.8 level was broken through in Aug 2020; shares went on a significant run. If MSTR does so this time, look out!
Weekly chart of SQ; shares are currently above the previous weekly close. Momentum indicators are strong. Weekly RSI is above 61.8 which provided strong resistance in the past. Shares could see additional gain ahead if it can stay above this RSI level.
REGN - reported strong earnings. Bouncing off the daily 20 EMA. Daily and weekly momentum indicators are positive. A close above $598.50 would be bullish.
NIFTY 50 is still very strong after the breakout. Momentum indicators are still bullish. Will encounter resistance at RSI 78.6.
ETH is continuing to move ahead on strong momentum. Looks like it wants to challenge resistance around $2,900. RSI 78.6 would also provide resistance but momentum is strong.