Technical Analysis

Ramki Ramakrishnan, Elliott Wave specialist, suggests a possible retest of the $200 level, but After we move to between $233 and $260.

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WTI and Brent crude oil prices fell for a second week amid growing concerns over the global economic rebound. A more aggressive Federal Reserve outlook amplified the worry following the recent series of yield curve inversions.

Daily price for Brent Crude Oil is located inside Ichimoku cloud for the ranging market condition: the price is trying to break bearish triangle pattern with support level at 98.44 to below for the primary bearish reversal. Alternatively, if the price breaks 109.88 resistance level to above so the bullish trend will be resumed with 114.75 target to re-enter.
Conclusion: ranging.

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Daily Tesla stock is located above Ichimoku cloud in the bullish area of the chart with the secondary ranging within 1,092 and 973 support/resistance levels. If the price breaks 1,092 resistance to above so the primary bullish trend will be continuing with 1,152 level as the next target to re-enter. If the price breaks 973 support level to below so the possible bearish reversal will be started with the secondary ranging way.

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New York Times stock, a diversified media company that includes newspapers, internet businesses, television, and radio stations, has declined by 15% over the last twenty-one trading days (one month) and currently stands at around $40.

The daily chart was bounced from 200 SMA to below for the primary bearish reversal: the price is trying to break the bearish triangle pattern with 38.80 support level to below for 37.27 possible target to re-enter.

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UBS stock (NYSE: UBS) has gained 3% YTD, whereas the S&P500 has decreased 17% over the same period.

Daily price was bounced from 16.40 support level for breaking the Ichioku cloud to above to the primary bullish reversal. The price was stopped by bullish triangle pattern with 18.84 resistance level, and if this level is broken so the primary bullish trend will be continuing. Alternatively, the price will be on the ranging market condition near and above Ichimoku cloud waiting for the direction of the strong trend to be started.

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Sirius XM stock (NASDAQ: SIRI), a leading provider of satellite radio, has a large number of outstanding shares of around 4 billion (in 2021) which makes its stock trade at a low price in the range of $6 to $7 levels.

The daily/weekly price is on bearish breakdown: the price was bounced from 6.41 resistance level to below for the bearish area of the chart with 4.50 support as a possible target. Alternatively, the price will be on secondary ranging near and below Ichimoku cloud waiting for direction.

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The US Dollar surged to fresh highs after an event-heavy week of trading. Federal reserve rate hike bets, economic forecast to dictate DXY strength. Mr. Powell’s Congressional testimony may see US Dollar volatility ahead.

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Kellogg stock rose after the company announced a proposed corporate split. But the daily price is still on secondary ranging to be near and above 200 SMA within 66/71 support/resistance levels waiting for the direction of the bearish reversal to be started or the bullish trend to be resumed.

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Oil prices are stuck in a “tug-of-war between supply and growth concerns,” experts say.

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Gold prices may continue to fall as high-flying global inflation data boosts bets on central bank tightening, tarnishing non-yielding bullion’s appeal. A measured ECB may offer a temporary lifeline.
The weekly price is continuing with the secondary correction within the primary bullish trend by trying to break 1,732 support level to below for the correction to be continuing.

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