Tuesday’s one-day rally stopped short by the 20- day SMA and the down-sloping reaction line. The yen reversed at the two levles of resistance and resumed the dominate downward trend. This should set the stage for the next swing lower into the May 6th reversal swing date.… read more
Tag Archives: traders market views
Swing trade sell opportunity in July Silver. [chart]
July Silver traded to a high of 18.20 and just breached the 60% sell window before turning sharply lower. This price action is forming a potential TR sell pattern. The market needs a trade below Wednesday’s daily low (17.455) to confirm the reaction swing and the final segment of the TR pattern sequence. If the… read more
Reversal Swing date for the week of April 19 – 23
Monday – Cattle, Silver, Gold, British pound, Australian dollar Tuesday – Soy meal, RBOB gas, Heating oil, T-Notes, Dollar index, Canadian dollar Wednesday – Wheat, Crude oil, T-Bonds Thursday – S&P Friday – Coffee… read more
Coffee turned lower by the up-sloping median line. [chart]
This chart, of the May Coffee, is a good illustration of the significance of the median (center) line. The line acts as dynamic resistance as the market trends higher. Coffee tested the median line three times during the cycle and failed after the fourth test on April 5. The swing pattern failure signaled an end to the upward trend and triggered… read more
Crude oil is setting up for the next swing higher. [chart]
Crude zoomed through the ascending median line and closed above the prior swing high of 85.43, posted on January 11, 2010. Having used its energy, Crude pulled back to an area of support provided by two action-reaction lines and the 20- day sma. This price action has formed a bullish reaction swing, above the median line, and set up… read more
Gold reached 1st target objective! [chart]
Gold reached the target objective of $1065.00. The stalled at the confluence of resistance where the up-sloping median line reached the prior pivot high. The markt is currently trading lower.… read more
Reversal Swing Dates for the week of April 12 – 16.
Monday – Wheat Tuesday – Gold Wednesday – Corn, T-Notes Thursday – Dollar index, Canadian dollar Friday – T-Bonds, Silver… read more
Current pattern may setting up major sell for Soybeans. [chart]
Soybeans have been trading is sideways trading range for the past two and half months. The last attempt to test the up-sloping median line failed and the market has dropped back to test the lower trigger line. A break below the (red) trigger line is bearish and typically portends a significant price move in the… read more
Crude oil reaches new 18-month high. Will it continue? [chart]
Crude oil traded out of the 5-wave continuation pattern on March 29. The new bullish upward swing was confirmed after the market posted a low pivot on March 26, followed by a close above the up-sloping median line on March 31. This pattern can be a very important marker in a trending market because it usually marks the… read more