juliusyap

juliusyap

After several months of forming a Head & Shoulder pattern, it is now confirmed in line with weak global demand due to global full or partial lockdown of cities, regions or countries especially major buyer like China & India. Current conditions present opportunities to SHORT which could see FCPO re-visiting 2000 level or beyond.

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GOLD has broken below its rising wedge pattern & might drop back to its previous low of about 1455 if its full rising wedge target is realised. Current price at time of print also shows Wave 4 have violated as it dips below Wave 1 high. It seems to be supported around 1655 as there is a confluence of FiboR 61.8% & Volume Profile peak. All other indicators are also...

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DJI is at the edge of the rising wedge again. Last one was a much bigger one but this one seems to be the crucial one to define if the recent rebound is just a dead cat rebound or a pullback to launch to greater heights. If broken below, will re-test previous support levels of FiboR 38.2% & longer term trend line (orange). Opportunity for short term SHORT until...

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USOIL plunge to the maximum depth while FUTURES went way underwater last night ! Way way oversold & quickly rebounded to above 20 & probably will range bound between 20 to 30 until it breaks out of the Ichimoku clouds.

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Rounding Bottom completed with gap closed and good volume while StoRSI just curving up from oversold region. Should be able to continue to run up to the next target.

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Crude on monthly chart seems to forming right shoulder with neckline around 40

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In FCPO Monthly chart, double tweezers candlesticks appeared again at 2300 level as it creeps to overbought region. Can potentially fall back to 2000 level.

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KLCI falls further after Double Top confirmation around 1600 & currently still unable to break out of Falling Wedge Pattern

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Rising Wedge Pattern violated followed by a hammer candle closing above EMA 200 with StoRSI in oversold region. Watch how it play out today !

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After plunging 2 days & breaking supports, it is now resting at quadruple supports, ie Rising Wedge lower band, EMA200, FiboR 61.8% & StoRSI in oversold region. Tonight would be interesting !

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DAYANG almost completing a bullish Cup & Handle pattern within a multi year Rounding Bottom pattern in monthly chart with huge volume from this year onwards. A break above FiboR 38.2% or around 1.80 with have potential run up to previous high or 100%.

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SILVER FUTURES turned bearish as it broke EMA50 & chugging along downtrend channel but has reached lower band. It might have a rebound or breach lower to head towards FiboR 61.8% or EMA200 support

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GOLD FUTURES have turned bearish after breaching below Head & Shoulder neckline & also EMA50. Opportunity to SHORT until next confluence support of H&S target, previous high & FiboR 38.2%

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Among the 3 major indices, NASDAQ 100 is the closest to forming the Rising Wedge Pattern as it is currently already below EMA50 and at the confluence support of previous high & lower uptrend line. Breaching around 7680, it will turn bearish and heads towards EMA200 as its next support around 7500.

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S&P500 also forming Rising Wedge Pattern & currently close to immediate support around 2950 & EMA50. Breaching below 2900 will confirm the pattern & turn bearish.

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DJIA currently still in bullish mode but forming Rising Wedge Pattern. I notice two confluence of supports. Immediate support is near EMA50 which also confluence with a previous high around 26600 level. Breaching below 26000 confluence with EMA200 level will confirm Rising Wedge Pattern as DJIA turns bearish.