Tag: tickmill
Type : Bearish Drop Key Levels:Resistance : 1404’4 Pivot: 1379’7 Support : 1357’3 Preferred Case: On the H4, with price moving below the ichimoku indicator and descending trendline, we have a bearish bias that price may drop to the pivot at 1379’7 where the swing low support is. Once there is downside confirmation that price […]
Oil Traders Cut Longs The latest CFTC COT institutional positioning report shows that oil traders reduced their net long positions last week from roughly 246k contracts to roughly 229k contracts. This reduction comes on the back of a steady build in prior weeks and reflects a shift in sentiment in the crude market. That shift […]
Type : Bearish Drop Key LevelsResistance : 3569 Pivot: 3503 Support : 3433 Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop to the pivot at 3503 where the pullback support is. Once there is downside confirmation that price has broken pivot structure, […]
Type : Bearish Drop Key Levels:Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 144.475. Once there is upside confirmation that price has broken pivot structure, […]
BOC Hikes & Signals More To Come The September Bank of Canada meeting, held yesterday, saw the BOC delivering a firmly hawkish outcome. The bank hiked rates by .75%, the top end of the range of expectations, and signalled more tightening as likely necessary. There had been a great deal of speculation ahead of the […]
Type : Bearish Drop Key Levels:Resistance : 32600 Pivot: 31872 Support : 30974 Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 31872 where the pullback resistance and 23.6% fibonacci retracement are to the 1st support at 30974 where the […]
The main event of the day today will be the meeting of the European Central Bank. Bloomberg economists are divided on expectations in regard to the size of the rate hike, with just over half of them predicting the ECB will raise rates by 75 bps, and just under half believing a 50 bps outcome […]
ECB Up Next Following the September BOC meeting yesterday, focus today shifts to the ECB. The central bank is widely expected to hike rates by .75%, surpassing the .5% hike in July. With inflation in the eurozone having hit record highs of 9.1% in July, the pressure is on the ECB to act decisively. Given […]
Type: Bearish DropKey Levels:Resistance: 1825Pivot: 1777.8Support: 1743.5Preferred Case:On the H4, with price moving within a descending channel and below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 1777.8 where the overlap support is to the 1st support at 1743.5, which is in line with the overlap support.Alternative Scenario:Alternatively, […]
Type: Bullish Rise Key Levels:Resistance: 1.1609Pivot: 1.1504Support: 1.1445 Preferred Case:On the H4, with the price pullback from the support, breaking the descending trendline, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 1.1504, where the current price is to the 1st resistance at […]