fbpx

Posts

Posted on

Crude Oil Price Ready For A Boom

Globally, the crude oil price fell to 42.52 in December 2018 which occurred last in June 2017. Price of $CL_F holds a strong support at the same level. In 2018, $CL_F price maintained a resistance at level 73.43 since November 2014. All gains in 2018 were lost when a fall in price began in October. The year 2019 started on a good note for oil with the $CL_F price all bullish.

Crude Oil Daily Chart

A breakout from the trendlines has occurred giving hopes for the $CL_F bull market. At two different instances in 2018, RSI shows oversold positions. As we watch the $CL_F bulls get into the market in large numbers, price has been bullish for about 3 weeks. The price is not overbought and might not show trace of being overbought soon. There are indications that the price of $CL_F could reach 69 in a few months time or go beyond that. The Ichimoku has shown a bullish future which occurred last in November 2018. Price has crossed to the upper region of the Bollinger band indicating the bull power is dominant.

Posted on

Euro Gaining Momentum Against The Dollar


The $EURUSD pair has moved both bullish and bearish since 2018 at an average of 200pips. The daily chart shows there has been rowdiness in the price movement. $EURUSD has been repeatedly oversold in May and August 2018. Price at several occasions touched the resistance level and reversed. The $EURUSD bears are more dominant since April 2018. Also, since the beginning of this year, the bears have been more dominant. Any attempt to begin a bullish trend, the bears take charge of the market.

Ichimoku’s future shows a downtrend, which is yet to give a reversal signal. In recent times, the price of $EURUSD has not shown an oversold position on the RSI. With price action, price is currently at 1.13746 after a bounce occurred. Now price is almost touching the Bollinger band’s middle line. If the candlestick crosses and closes above the middle line of the Bollinger band, then the uptrend might continue to reach 1.15068.



Posted on

Bitcoin Might Fall Back To Major Support Level


There was a sudden rise in the price of $BTCUSD on the 8th of February after a long range in price. Price initially was around 3360 before the upward movement to 3631 on the same day. After the bullish movement, a range in the price of $BTCUSD began. Two weeks later, $BTCUSD price began a bullish movement on the 19th of February which reached the resistance level of 3981.

On the RSI chart, price of $BTCUSD has been overbought at least twice in February. $BTCUSD price might fall to 3500 due to overbought positions. $BTCUSD bulls tried to move price about $600 in February. The bears seem to be in control of the Crypto world, giving little chances to the bulls. In the 4hr timeframe, price of $BTCUSD might fall about $500 in the next few days. Ichimoku is still showing a bullish trend which may likely give a reversal signal.

Posted on

EURBGBP Bears Might Pave way For The Bulls

There is a major support level at 0.86375 which the price of $EURGBP has maintained in the last few years. Today, a dip in price has resulted, thereby GBP has gained about 350pips in 2019. After this dip, a trace of reversal has begun. In the past one and half years, price of $EURGBP has been between 350pips indicating low volatility.

The RSI has indicated an oversold position giving rise to a reversal in the price of $EURGBP. Despite today’s drop in price, there are signals that price will touch the resistance level at 0.90496 in next few weeks. Price of $EURGBP is currently around the support level again. Just recently, price touched this support level at 0.86324 in the last trading week in January. Ichimoku shows the price is in a downward direction. If price of $EURGBP touches the middle line of the Bollinger bands, price might continue the upward movement.

Posted on

General Electric Is Currently Overbought


Since the beginning of the year, $GE bulls have been actively trading with over 250points. 2018 ended on a poor note for $GE shares when price fell about 500points before a range in price began. However, 2019 began with the $GE bulls in charge of the market with over 150points gained before the end of January. On the 1st of February 2019, they was a gap upwards which made the share price of $GE to move higher about 100points more.

Price is already overbought using the RSI thereby depicting a reversal is about to begin. Ichimoku is still showing a bullish direction alongside the price of $GE still on the upper region of the Bollinger bands. As it is expected that the bears get into the market for a short while, price of $GE could begin a bullish movement after a dip might reach 8.50.

Posted on

Nike Bulls May Relent

There has been an upward movement with the $NKE share price since the last week in 2018. The bulls have gained about 300points since then. $NKE reached an all time high in September 2018 and there was a major resistance at 86.04 level. The current price of $NKE is at 85.07 which might maintain the resistance level 86.04. Just recently, $NKE trainers which looked to have the name Allah have been asked to be recalled. This recall may negatively affect the sales of the trainers.

Ichimoku’s future is yet to show a reversal which indicates that the $NKE bulls are still in the market. RSI also shows an overbought position indicating that a correction lower may begin. Since price is already touching the resistance level, this could give room for the bears to get into the market. Price of $NKE still maintains the upper region of the Bollinger bands. If a bearish movement begins, it could attract about 100points.

Source: Nike Air Max Trainers Allah Sneakers Recall Petition Arabic Offensive.
(Independent.co.uk)

Posted on

The Dollar Might Continue The Uptrend Against The Yen

The Japanese yen gained so much against the dollar with over 500pips in December 2018. During this time, most of the American stocks took a dip and are yet to recover fully. $USDJPY peak price in 2018 was in October at 114.404. In the second half of the year in 2018, $USDJPY was overbought at two instances. Price touched level 104.718 level in the early days of January 2018 with much volatility in the 2nd trading day.

After the dip in December, price of $USDJPY is already oversold on the RSI indicating a reversal for an uptrend. Price has currently moved upward 300pips in 2019 and shows a very high tendency of a continuous uptrend to 113.96 in the long run. For a short while, price of $USDJPY could rally up to 111.823 from its current 110.480. The future of Ichimoku shows a trace of reversal which might attract an additional 300pips in the long run. Though price is currently in the lower region of the Bollinger bands, price might cross upwards to the upper region of the band in a short while.

Posted on

ON THE AIR with Benzinga #PreMarket Prep Show

I got to open up the new trading month of February with the guys at Benzinga, just after the release of the US jobs report. The headline number smashed market expectations with the U.S. economy adding 304,000 jobs in the month of January. However, the more interesting number is the decrease in hourly earnings, which is a key indicator of inflation for the Federal Reserve. It makes us wonder if the Fed is trying to get ahead of deflation with its surprise shift in monetary policy just days earlier.

We also discussed the Brexit, monetary policy and what this all could mean for the euro! (Yes, of course, we talked about the GBP too ??) Watch the full interview below!

Posted on

ON THE AIR with Futures with Ben Lichtenstein

I closed out January back on the air live on TD Ameritrade Network’s show, Futures with Ben Lichtenstein. During my segment, I covered the surprise delivered by the Federal Reserve this week as they announced that they would not only shift away from gradual interest rate increases but that they would also maintain their balance sheet. This is a stark contrast from increasing rates AND unwinding quantitative easing. So on the show, we dissected the markets’ reaction to this news.

We also discussed Brexit, of course, and how Parliament is more to blame than Prime Minister Theresa May. What does all this mean for the USD and the GBP? Click to watch the segment below.

Lydia Idem on TD Ameritrade Network
Click to watch!
Posted on

Netflix Retesting Resistance

Netflix share price attained all time high in June 2018 with a profit gain of over 100% for all of 2018. After this height, a fall in share price began from 422.77 to 232.78. About 45% fall in price turned the stock bearish in the 2nd half of 2018. Bulls have been more active in 2019 with $NFLX gaining about 100 points. On the third trading day of the year, price had already moved up to the upper section of the Bollinger bands.


Price of $NFLX has since retested support level before the bounce; price is currently around the resistance level. A breakout of the trendlines to the downside has occurred making $NFLX to drop in share price. The drop might continue if more sellers get into the market. However, the candlesticks are yet to cross to the lower section of the bands indicating price is still in the buying region. Ichimoku is yet to change direction from its bullish side to being bearish. Nevertheless, RSI has shown that price of $NFLX is currently overbought. Price might fall over 30points depending on the activities of $NFLX sellers.

Proudly powered by WordPress