A small bearish black crow with a second consecutive close over the recent 50% fib at 1.2358…just…but was capped by the feb-to-date downtrend (currently 1.2407)…this is now a threepointer.
A second close up over the 2018 downtrend (currently 1.3908) but with an indecisive doji cross…at the moment we’re still being held down by the recent 38.2% fib at 1.4003.
No follow on to the small bullish harami as the market once again turned lower and tested the combination of ‘ma’ and uptrend support around the medium ma (currently 0.8847)…it’s doing that today as well.
Yet another test lower as the market is seemingly running down the outside…and wrong side…of the recently broken but still key jan-to-date downtrend (currently 106.03)…that trendline had been running the market this whole year and is still acting as if it is…below we have the steadily advancing 2016-to-date uptrend (currently 104.43)…watch this one.
The market tried up to the overhead resistance… combined around the 0.7922 area of the very recent 50% fib and the middle tine of the may – dec 2017 schiff pitchfork…i’ve concerns that recent action might be a bearish stick sandwich pattern…no follow through yet.
An indecisive spinning top.
A small bullish white soldier…almost an indecisive spininng top…that’s currently resting just above the important recent 50% fib at 7090.
We’ve retested the key recent 50% fib support at 12 161 and found it competent…today we’ve opened higher.
As indicated yesterday…with the recent gap this was starting to look like an island reversal…well…yesterday we followed on lower with a bearish opening long black marubozo...we halted at the recent 38.2% fib at 2745…still cautionary on this one .
The market chose to interpret the previous day’s action as a bullish opening white marubozo rather than a bearish shooting star pattern and we formed a bullish open and close long white marubozo…we’re now basically over all recent bearish pitchforks which had been pressing down on the market…they are now negated…the market now seems to look at the mar high at 123.01 and the congestion around 123.68 from the declining medium ma (currently 123.75) and the 2015 – 2016 50% fib at 123.68.
A third bullish white soldier as the market carries on up from the recent bullish double and pipe bottom…it still seems to seek comfort and proximity near the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 159.20)…we’ve currently halted at the bearish middle tine of the dec 2017 – feb 2018 schiff pitchfork (currently 157.91).
A third bullish white soldier…we potentially have a shallow ‘v’ bottom on the daily chart.
A bullish white soldier…possibly also a bearish shooting star as we closed over the medium ma (currently 6966) but below the recent 50% fib at 6993…today we’ve started between those two levels…again.
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