The fighting is not over but it looks bulls had managed to reverse recent 40% drop from Dec high and price now seems ready to that that high and print a new upside momentum era
Now the market is undecided and today's bounce from the sell-off is a positive sign and bulls should show force to close above $70 which will bring some momentum upside.
This is one of the few charts that may attract you in this tough market. This bullish head and shoulders bottom has a measured upside target at and around $120 zone with tight stop below the right shoulder in case the trade goes against you.
V-not yet confirmed but it looks this bullish bottom triangle has some upside merits and has a projected upside target $40 zone with tight stop at recent swing low at $31.5 zone
$DJI looks first to challenge a new Feb high but facing 50DMA level and area where bulls need to prove they are serious to take the market a new level for the year.
Close below $95.50 in any given day will confirm downside momentum so far the uptrend is solid and remain solid till price breaks below that level. There is a good chance we will see $79/$80 before we see $130 which is very possible.
These days tough to pick winners but some stocks like $HON were not difficult to detect their bullishness and tonight $KORS is our favor for upside interest with tight stop.
Gold indeed surprised a lot about its recent strong swing up and it seems it's justing getting started but pullback is needed. Will see if it can cool down and retraces back to it's 38.2% next few weeks.
It looks everyone is eyeing on $1950 but more important is $1940.24 push above this level has higher chance to crash $1950 next few sessions but failure to push above $1940.24 will suggest revisit of recent swing low $1810.10 monthly low. So far market managed temporarily punish short sellers who stayed longer than was necessary but buyers are not detected.
This is one of the best monthly chart one could find in the market and if it breaks out upside expect price easily printing $115 soon. Stay safe!
Price is close to temp-topping $99 at the best or even good to book profit here if you were luck enough to enter at $82 zone.
Today's 11% RSI jump from yesterday's close is indeed encouraging but still price is within the weakness zone and if it fails to hold $106.95 area trigger your short entry with tight stop at and around $109 area and target price $93.5
Last week we predicted that price will bounce back to $31 but today's action was not that of rosy many of us hoped for. If price fails to push over $30.05 levels we should start worrying about our recent bullish bet and protect profits.
Recent market resurgence though helped by short covering it was strong and remained strong but $AAPL did under perform and may soon prove that downside momentum will continue. $94 so far remained support and price held very well though it penetrated several times. Weekly close below that level will be a bad news for the bulls and good news for the bears but also...
It looks that price hovering at and around one year high and trend reversal will be confirmed if price manages to close above $21.25 area if it fails another possible low for the year.
The risk seems not fading but only gets stronger. With is in mind, at this level, it looks a good entry point for long-term play with SL at $23 and target price $36.22.
The market is in trouble and no leaders came out to take us out of this mess but if price fails to hold $15340 area next major support will be $14120 area.
Earlier noted that we are bullish since it hit $115 and remain bullish now with target price $135 next few weeks.