Tag: tickmill
Type: Bearish ContinuationKey Levels:Resistance: 81.27Pivot: 79.67Support: 78.42Preferred Case:With price moving below the Ichimoku cloud, we see a potential bearish continuation from our pivot level of 79.67 which is in line with 50% Fibonacci retracement towards our 1st support level of 78.42 which is in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break […]
USD Rally ContinuesThe US Dollar is seeing better demand into the end of the week following comments from Fed chairman Jerome Powell yesterday. Powell, who was taking part in an IMF meeting regarding the global economy, yesterday confirmed that larger .5% hikes are “on the table” for the next meeting on May 4th.Powell explained that, […]
Type: Bearish ContinuationKey Levels:Resistance: 807’4Pivot: 800’2Support: 789’6Preferred Case:With price moving below the Ichimoku cloud and the descending channel, we see a potential bearish continuation from our pivot level of 800’2 which is in line with 38.2% Fibonacci retracement and horizontal overlap resistance towards our 1st support level of 789’6 which is in line with the […]
Type: Bullish BounceKey Levels:Resistance: 1962.9Pivot: 1944.2Support: 1934.1Preferred Case:Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1944.2 in line with 138.2% Fibonacci extension towards our 1st resistance level of 1962.9 which is in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.Alternative […]
Oil Traders Continue to Reduce LongsThe latest CFTC COT institutional positioning report shows that oil traders continued to pare upside positions last week. This reduced upside exposure came despite a recovery in oil prices last week, though this has since petered out with oil now trading back below last week’s highs. Recent price action reflects […]
AUDCAD Sitting on Key LevelPrice action in AUDCAD has piqued my interest here. Following the latest failed attempt at breaking out above .9391/.9474, price has since broken through the rising trend line from YTD lows. For now, we are sitting atop support at the .9262 level. However, with the retail market currently around 65% long, […]
Type: Bearish DropKey Levels:Resistance: 105.59Pivot: 104.39Support: 100.38Preferred Case:Price is moving nearer to the pivot level. We are expecting the price to potentially reverse off from our pivot level of 104.39 in line with 50% Fibonacci retracement towards our 1st support at 100.38 which is in line with 50% Fibonacci retracement and horizontal swing low support […]
Tesla Beats EPS & Revenues Forecasts Q1Shares in US alternative energies and automotive maker, Tesla, are trading around 6% higher ahead of the US open today. This comes on the back of a solid Q1 earnings release yesterday. The company, headed by the enigmatic, and divisive, Elon Musk, reported an EPS of $3.22 over the […]
Type: Bearish ContinuationKey Levels:Resistance: 19.85Pivot: 19.59Support: 19.25Preferred Case:Price is near to the key pivot level and it is on a bearish pressure. We see the potential for a bearish continuation from our pivot level of 19.59 which is in line with 50% Fibonacci retracement and 161.8% Fibonacci extension towards our 1st support level of 19.25 […]
Type: Bearish ReversalKey Levels:Resistance: 101.159Pivot: 100.742Support: 99.394Preferred Case:We see that price is near pivot level and it is on a bearish momentum. Price can potentially dip from pivot level of 100.742 which lines up with 138.2% Fibonacci extension towards the 1st support level of 99.394 which is in line with 50% Fibonacci retracement, along with […]