Big bearish opening long black marubozo that closed below the old reverse h+s neckline (currently 1.2232)…this is now resistance… and right on the medium ma (currently 1.2212) …today we’ve tried lower though so far it’s been half hearted…we’re nearing the feb low support at 1.2154…that may be the reason why we’ve slowed.
Fifth bearish black crow and a second close below the very recent 50% fib at 1.4044 and the nov 2017-to-date uptrend (currently 1.4024)...we’ve halted at the 2018 50% fib support at 1.3915 and just ahead of the key medium ma support (currently 1.3859)
An indecisive spinning top pattern as the market seems to be halted by the recent 50% fib resistance at 0.8793 and the nearby medium ma (currently 0.8811).
A first close and new april high over the important old h+s neckline (currently at 107.99)…the more important 2016 50% fib level and the medium ma are not far away above those (108.86 and currently 108.96 respectively).
Still following on lower from last thursday’s superb daily key reversal down…we closed right on the lower tine of the may – dec 2017 schiff pitchfork (currently 0.7606)…we’ve been below it today…down to the recent lower channel line support (currently 0.7580)…but we seem to be wishing to stay above it today…so far.
A key reversal up…a small follow on today…it seems the market may have a wish to continue to run up along the middle tine (currently 69.50) of the recent bullish mar – apr andrews pitchfork… nearby support is effective around the 50% fib of the 2014 – 2016 move at 66.89.
A first close over the medium ma (currently 7315) and an attempt today to go over the long ma (currently 7355) plus a move up over the recent upper channel (currently 7351).
A doji cross…just about a bullish butterfly doji as you may be able to get in this market…it also seems the market may wish to have another attempt higher at the combined resistances of 1) the 2018 50% fib at 12 652…2) the long ma (currently 12 666) and 3)…the medium ma (currently 12 686).
A Third Bearish Black Crow That Still Follows On From Thursday’s Significant And Important Bearish Engulfing Pattern…We’ve Slowed As We’ve Come Closer To The Recent 50% Fib At 2665…This May Trap Us On The Downside Below An Area Of A Number Of Key Fib Resistances Between 2697 – 2704 Plus The Medium Ma (Currently 2706)…Caution…
A follow on to the bearish harami lower…the market seems to seek comfort and proximity near the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 120.33)…it is currently using it as support.
A breakaway…though not a gap…lower…however… today we’ve pulled up a bit…we still seem to seek comfort and proximity near the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 158.41)…it is currently using this as resistance.
A bullish doji…almost a butterfly doji…as the market seems to have tried down to test the 2018 low at 142.13…and not liked it...a little higher today.
A key reversal down with a close below the key medium ma (currently 6953) but not below the two nearby 50% fibs at 6920 and 6909…we went down to test the recent uptrend (currently 6874) but failed to do anything about that either…today we’re back above the medium ma…again!
Disclaimer: ADM Investor Services International Limited is authorised and regulated by The Financial Conduct Authority. Member of The London Stock Exchange. Registered office: 4th Floor Millennium Bridge House, 2 Lambeth Hill, London EC4V 3TT. Registered in England No. 2547805 a subsidiary of Archer Daniels Midland Company. Risk Warning: Investments in Equities, CFDs, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value, investors should therefore be aware that they may not realise the initial amount invested, and indeed may incur additional liabilities.
These Investments may entail above average financial risk of loss, and investors should therefore carefully consider whether their financial circumstances and investment experience permit them to invest and, if necessary, seek the advice of an independent Financial Advisor. Some services described are not available to certain customers due to regulatory constraints either in the United Kingdom or elsewhere. © 2014 ADM Investor Services International Limited 2014.