A look at the near term targets and some talk about the possibility of a commodity rally - including oil.
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Target area of 4260 reached on ES, BB is slightly higher so let's see if a reversal from here can stick. OIl still not coming down yet.
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OIl has reached that 95 resistance. Bears want a rejection at this level soon.
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As I said yesterday at the end of the video, we may have a pullback and then further run up today to close the week. I still think that's possible with the Bollinger Band now at 4275 area. We'll see if they can push it a bit higher today.
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OIl above trendline but under 95 resistance, no decision yet.
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BTC has pulled back but no breach of pitchfork fib just yet. Bulls want to hold 23500 area over the weekend
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Gold still hanging onto 1800 level. No decision on direction yet.
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Oil backtest of trendline. Bulls want to push up and away from here. Under 91 would start to look bearish.
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Dow Transports showing relative weakness today, some consider DJT to be a leading indicator
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OIl buyers still holding on to 92 level, no trendline break yet
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Good morning, OIl broke down overnight. Bulls need to recapture 92, otherwise it could be a much larger sell into the 70's
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SPX Futures pulling back a bit. Not sure if this is the "real selling" yet but if they do decide to sell it, I'm watching the light blue trendline as possible support.
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Gold lost 1800, needs to get above and hold to continue uptrend.
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BTC still above pitchfork fib line, but having a pullback now. Bulls want to keep above it, or at the least find support at lower channel line.
That's it for now. Probably will move onto other posts for now on - good luck!
That's it for now. Probably will move onto other posts for now on - good luck!
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Maybe 5 waves down from last night's futures, in which case the down move should be starting today. We'll see if the bears can wake up.
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they breached the top so likely it's another ABC. Expect a pullback and then furthur upside to 4300+. This will make sense because oil needs to get a bounce and it probably will get it with the last leg up in the market. Good luck!
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dips being bought, feels like it's going to be a blow off top for the end of the rally. QQQ looks like it wants to get to 338 area.
