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Stocks, ETFs, Options, Commodities & Currencies

This is a discussion on Stocks, ETFs, Options, Commodities & Currencies within the Analytics and News forums, part of the Trading Forum category; Important Japanese Candlestick Reversal Patterns The Doji Star and Shooting Star Japanese Candlestick patterns are part of a unique group ...

          
   
  1. #161
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    S&P500 for Signals Price Breakdown

    Important Japanese Candlestick Reversal Patterns

    The Doji Star and Shooting Star Japanese Candlestick patterns are part of a unique group that identifies potential price reversals, support/resistance and can often build into other types of patterns. Our belief is these setups in the current chart will eventually create an Evening Star formation with a downside price move early next week. This type of pattern would confirm resistance near the body of the current Doji or Shooting Star candlestick and also confirm our analysis that a price breakdown should continue.


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  2. #162
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    Can Oil Stay Above $50?

    Recent news suggests that oil producers are attempting to increase production levels after failing to attempt to push prices higher by cutting production levels. Globally, oil producers want to see oil prices rise above $65 ppb in an effort to support profit and production cost expectations. The real issue for the nation/states that rely on oil production/sales is that the global economy may not cooperate with their expectations over the next 24+ months.

    Crude Oil Daily Chart Analysis

    Stocks, ETFs, Options, Commodities & Currencies-brentcrud-d1-fx-choice-limited.png


    Our researchers believe Crude Oil could become very volatile as price nears the apex of the Pennant/Flag formation that is setting up. This Daily chart highlights the attempted “scouting party” price rotation above the price resistance channel. The news over the past holiday weekend suggests the global economy may not see any real bump in activity over the next 12+ months and we believe this aligns with our longer-term research that Oil should target the sub $40 price level before the end of 2019 and potentially fall to levels below $30 in early 2020.

    Crude Oil Weekly Chart Analysis

    Stocks, ETFs, Options, Commodities & Currencies-brentcrud-w1-fx-choice-limited-2.png


    We believe the key to all of this price rotation is the $50.50 level and what price does over the next 30 to 60+ days. There is a potential that price may attempt a brief upside move over this span of time, but the true intent of price is to move lower based on our ADL price modeling system. Therefore, we believe the downside potential is the most opportunistic for traders. The next price target based on our Fibonacci bearish price trigger level is the $45 price range.

    CONCLUDING THOUGHTS:


    This move could take place quickly, over the next 2 to 3 weeks on a breakdown move, or over many months. Watch the $50.50 level as that is the key. If the price falls to any level below $50.50, then we could be moving towards the $45 level or even the $40 on a big move related to global economic expectations. Otherwise, expect the price to move towards the $50.50 level over the next few weeks as this support level is key to all future moves.

    As we wait for the next leg to start to move prices lower, pay attention to any upside price activity as that may present a very clear entry point for skilled technical traders.

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  3. #163
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    Crude Oil Setting Up For A Downside Price Rotation

    Crude Oil has been trading in a fairly narrow range since mid-August – between $52 and $57 ppb. Our Adaptive Dynamic Learning (ADL) predictive modeling system suggested the downside price move in late July/early August was expected and the current support aligns very well with our ADL predictions of higher price rotation throughout most of September/October.

    Stocks, ETFs, Options, Commodities & Currencies-brn-h4-alpari-international.png


    We believe the current price highs, near $59 to $60, will likely continue as strong price resistance over the next 25+ trading days before a bigger breakdown begins near Mid-October. We expect the price to continue rotating within a fairly narrow range in alignment with our ADL predictions. Our original article suggested a high price target area near $60 from our ADL research. Now that Crude Oil has nearly reached this level, we believe the continued upside opportunity in Crude Oil is limited.

    Stocks, ETFs, Options, Commodities & Currencies-brn-w1-alpari-international.png


    We don’t expect anything crazy to happen in Oil until later in September or into early October. Our ADL predictive modeling suggests that Crude Oil will peak in October and begin a broader downside move towards levels just below $50. Crude Oil may begin this move a bit earlier than our ADL system predicts because of news or some fundamental data related to oil demand/supply. It is not uncommon for the price to move towards the ADL predicted levels many weeks before or after our Monthly ADL predictions. When we create the Monthly ADL charts, the data represented is based on highly probable levels for the completed month. So, we know that near the month of October or November, Oil should be targeting the sub-$50 level.

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