Looking back to 2007 (seven years ago) we have seen the price of crude oil perform incredible price swings. No matter the time frame in which we observe price when an extreme price spike takes place due to news/event, statistics show that half if not all the event driven price spike will eventually be negated in the future. The perfect example of this is the rubber band affect. If you pull an elastic band in one direction, eventually when it breaks or it’s released, the band will ...
Talking Points: points to ebbing bullish momentum. Near-ter US Dollar Chart Setup Warns of Losses as Upside Momentum EbbsS&P 500 Recoils Higher from Support But Topping Pattern IntactCrude Oil Sinks to 26-Month Low, Gold May Be Readying a Bounce US DOLLAR TECHNICAL ANALYSIS – Prices may be on the verge of a correction lower as negative RSI divergence m support is at 10931, marked by a rising trend line set from set from late August, with a break below that on a daily ...
Talking Points: Fibonacci Retracement tracks the pullback after an extended moveTraders eye 38.2%, 50%, and 61.8% retracements as possible reversal levelsFibonacci’s ‘magic’ comes from its self-fulfilling nature Where to Draw the Fibonacci Retracement? Where exactly is that? For starters, we need to identify an extended move up or down on our chart. In other words, a swing low followed by a defined high or a swing high followed by a defined low. Below, ...
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