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Daily Technicals: Cable Possible Bullish Piercing Line Pattern

Published 25/04/2018, 10:03

EURUSD

EURUSD

A bullish white soldier which despite making a new april low…still managed to close higher and only just below the old reverse h+s neckline (currently 1.2234) plus well over the medium ma (currently 1.2216)…today we’re currently back below the medium ma…we’re nearing the feb low support at 1.2154…that may be the reason why we’ve slowed.

CABLE

CABLE

A Possible Bullish Piercing Line Pattern…However…The Market Has Been Held Down Yesterday And Aslo So Far Today By The Outside Of The Lower Tine Of The 2018 Bullish Schiff Pitchfork (Currently 1.3993)… Just Below We’ve The 2018 50% Fib Support At 1.3915 And Just Below That We’ve The Key Medium Ma Support (Currently 1.3864)

EURGBP

EURGBP

Another indecisive spinning top pattern as the market’s rise seems to be halted by the recent 50% fib resistance at 0.8793 and the nearby medium ma (currently 0.8811).

USDJPY

USDJPY

A second close and another new april high over the important old h+s neckline (currently at 107.97)…we moved over the more important medium ma (currently 108.92) and key 2016 50% fib at 108.86…we’re trying to move significantly over these again today.

AUSSIE DOLLAR

AUSSIE DOLLAR

Market tried lower yesterday but ended up as an indecisive spinning top pattern…which ought to be cautionary… however…today we’ve opened and punched even lower…below schiff pitchfork tine and lower channel line…for a new 2018 low and if continuing…may have an attempt at the dec 2017 low at 0.7498.

NYMEX CRUDE FUTURES

NYMEX CRUDE FUTURES

After yesterday’s bullish key reversal up… today we’ve a bearish engulfing pattern with potential for a double top…it still seems the market may have a wish to continue to run up along the middle tine (currently 69.83) of the recent bullish mar – apr andrews pitchfork…though looking at it…it’s a big ask today…nearby support is effective around the 50% fib of the 2014 – 2016 move at 66.89.

FTSE FUTURES

FTSE FUTURES

A clear key reversal up with a second close over the medium ma (currently 7315) and a first over the long ma (currently 7355)…however…we’ve also a clear indecisive doji cross…possibly a bullish northern one but still indecisive…today we’ve opened back below the long ma…though still over the medium ma.

DAX FUTURES

DAX FUTURES

A bearish outside day…almost a key reversal down but we missed by just one full point…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 12 680) have seemingly taken the life out of this current move higher.

S&P FUTURES

S&P FUTURES

A Key Reversal Down Follows The Previous Third Bearish Black Crow And Significant Bearish Engulfing Pattern…We’ve Now The Key Long Ma (Currently 2611) Within Sight…Caution…

GILT FUTURES

GILT FUTURES

A third bearish black crow and follow on to the recent 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 120.29)…it is currently using it as support.

BUND FUTURES

BUND FUTURES

A key reversal lower follows yesterday’s breakaway lower…however…it is a small candle for such a large move…we still seem to seek comfort and proximity near the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 158.37)…it is currently using this as resistance.

U.S. BOND FUTURES

U.S. BOND FUTURES

Almost a bearish outside day and even a key reversal down…however…we halted at the previous day’s low…that’s not a problem today as we’ve opened and gone lower.

LME 3 MONTH COPPER

LME 3 MONTH COPPER

No follow on to the key reversal down as we closed back over the important medium ma (currently 6955) as well as the two nearby 50% fibs at 6920 and 6909…we’ve overhead nearby tine resistances coming into the picture at 7071 and 7178.

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