Fades bounce off 200-EMA around mid-131.00s
Share: USD/JPY reverses the previous day’s recovery from weekly low, sidelined of late. Firmer RSI, sustained break of weekly resistance line keeps Yen buyer hopeful. Bulls need validation from 131.70 to keep the reins. USD/JPY seesaws around 131.50 as buyers struggle to extend the previous day’s rebound amid a sluggish start to Thursday’s […]
Bulls eye a 38.2% Fibo in the 1.2120s
Share: GBP/USD is making tracks higher and bulls eye the 38.2% Fibonacci target of around the 1.2120s. On the 15-minute chart, GBP/USD is breaking the structure after putting in a higher low for the New York session. A break of 1.2092 is now what the bulls need to solidify the prospects of a push […]
Jostles with 50-DMA to convince Oil buyers
Share: WTI grinds higher after crossing one-week-old resistance line. Unimpressive oscillators, 50-DMA challenges Oil bulls ahead of the key 100-DMA hurdle. Pullback remains elusive below $75.60 support confluence, $73.00-72.50 region appears a tough nut to crack for bears. WTI crude oil struggles to extend the previous day’s stellar run-up around the weekly top, […]
Bulls moving in on the bear’s break of 1.2090 structure
Share: GBP/USD is setting the foundations for a bullish setup with the 1.2180s eyed in a 50% mean reversion target. A 38.2% Fibonacci retracement is located at 1.2195. Nevertheless, bears will be lurking considering the break of structure at 1.2090. GBP/USD bulls moved in on Tuesday and are setting the foundations for a […]
Recovery fades near 159.50 as key DMAs, trend lines probe bulls
Share: GBP/JPY bulls struggle to keep the reins after two-day uptrend. 10-DMA, 21-DMA and two-month-old resistance line challenge immediate upside amid sluggish MACD. Bears should wait for 61.8% Fibonacci retracement breakdown. GBP/JPY makes rounds to 159.40 while fading the two-day uptrend during early Tuesday. In doing so, the cross-currency pair jostles with the […]
SNAP Stock: A Buy or Sell? | Don’t Ignore This Chart!
SNAP’s got a new game plan up its sleeve and, depending on how well it fits, it may make or break the stock.After flat or disappointing earnings reports for most of 2022, mainly due to weak social media ad revenues, SNAP stock has suffered. The stock’s price has been in the single-digits territory for the […]
Price Reversals from Recent Highs in Stocks | Mish’s Market Minute
What if the trading range top at 4200 we have been calling for in the S&P 500 turns out to be… the top?Certainly, we can make a case for it given higher yields, strong dollar, geopolitical stress, debt issues, government spending, and no real proof we have beaten the battle of inflation.We at MarketGauge love […]
DP Trading Room: Trusting the Technicals | DecisionPoint
On this week’s edition of The DecisionPoint Trading Room, Carl looks at the Big 10 capitalized stocks and determines whether a bull market right now will have legs. Do we use common sense or technicals regarding a new bull market? Carl and Erin discuss. Both of them deep dive into the Technology (XLK) sector and […]
Recovery remains elusive below $75.40
WTI picks up bids to snap three-day downtrend at monthly low. Bearish MACD signals, previous support line challenge buyers. Upside appears doubtful below 100-DMA, descending trend line from August also challenges the Oil buyers. Seven-week-old horizontal support limits immediate downside ahead of 2023 bottom. WTI crude oil licks its wounds near the one-month low, picking […]
Renews three-week high but 50-DMA probes bulls
USD/JPY grinds higher around three-week top during two-day uptrend. Successful break of 130.00 support-confluence join firmer oscillators to favor bulls. 50-DMA challenges immediate upside ahead of January’s peak. USD/JPY remains firmer as buyers keep the reins at the highest levels in three weeks during early Monday. In doing so, the Yen pair also justifies the […]