Oil breaking into new highs does not mean a bull trend for oil.
62.56 is current high in the channel. Likely long if it breaks that.
But it needs to break the 200 day EMA too.
Oil went down yesterday, breaking the old channel and making new low, but since it didn't broke 50 day EMA, it went long again, and it went very fast.
Indicators say it is on the verge of...
Short if it bounces the trendline formed by last 2 big highs, or long if it breaks that trendline.
No more time for oil direction, so this is preparing for next week.
The next direction is for oil to keep price action in that wedge, that down trend line won't be broken that easily.
Oil just teased the bears by touching the 50 day EMA on daily, but not breaking...
Why?
TA:
-RSI Bearish Divergence seen clearly on daily
-MACD, Stoch(blue on PTS) Divergence too
-CCI going down, bearish
-ADX is showing lack of bull trend strength, bear trend rising
FA:
-EURO WILL GO TO PARITY, very strong dollar coming up in june, see EU related post
-Inventory data too negative, will now likely shoot up, Api should show from -5.2 to...
Why?
TA:
-RSI Bearish Divergence seen clearly on daily
-MACD, Stoch(blue on PTS) Divergence too
-CCI going down, bearish
-ADX is showing lack of bull trend strength, bear trend rising
FA:
-EURO WILL GO TO PARITY, very strong dollar coming up in june, see EU related post
-Inventory data too negative, will now likely shoot up, Api should show from -5.2 to...
Bitcoin has some very strong reasons why this could shoot up:
TA:
-DMI/ADX trend strength(bear trend) at all time lows. It never was this low, and when it was, trend strength would likely go up, and this time is the end of the bear trend. Likely strong bullish trend
-Stoch going up,(blue line on PTS) signaling beginning of uptrend
-CCI still in convergence with...
Bitcoin is going into recovery mode.
TA:
-MACD,RSI convergent with price, and in an uptrend
-Stoch, shown in blue on PTS is slowly going up
-CCI is recovering too, so it goes up
-Downtrend is almost over, you can see it by lack of momentum in beartrend on DMI
FA:
-We got a bitcoin fund, called GBTC
-Bitcoin with Gemini ETF launching sooner than later, likely...
PARITY THIS SUMMER
Euro is going to go to parity likely in June, parity by end of may would be too early at this stage, but could be possible.
Why is eurusd going to hit parity so soon:
-Technical Analysis:
--Bearish Divergence on daily RSI, just like it's seen on chart
--MACD crossed, and every time this happened, Euro went down. you can see this going from...
Why S&P 500 is Bearish:
Technical Analysis:
-bearish divergence on monthly RSI
-bullish momentum is weakening, shown by DMI, both strength and direction, could be divergence too
-Stoch shown with blue on PTS is on highest levels
-MACD on highest levels and made a cross
-Elliot wave says S&P 500 is in fifth stage, look for bearish, check the related idea for...
Why S&P 500 is Bearish:
Technical Analysis:
-bearish divergence on monthly RSI
-bullish momentum is weakening, shown by DMI, both strength and direction, could be divergence too
-Stoch shown with blue on PTS is on highest levels
-MACD on highest levels and made a cross
-Elliot wave says S&P 500 is in fifth stage, look for bearish
Fundamentals:
-June:
--Grexit...
Oil is staying in parallel channel until it breaks it and goes into a clear direction.
A breakout above 62 or below 58 signals the start of either a bull or a bear market.
Since it broke previous channel, market might be biased for short, but at the same time, with some big buyer buying, might be biased for long.
Short below 58
Long above 62
Buy/sell...
Oil is staying in parallel channel until it breaks it and goes into a clear direction.
A breakout above 62 or below 58 signals the start of either a bull or a bear market.
Since it broke previous channel, market might be biased for short, but at the same time, with some big buyer buying, might be biased for long.
Short below 58
Long above 62
Buy/sell according...
