A small follow on to the previous key reversal down but ending with an indecisive doji cross…this closed right on the middle tine of the Jun – Sep 2017 schiff pitchfork (currently 1.2304) and is using this as support…we’ve a bearish southern doji cross on the weekly chart.
A bullish white soldier counters the previous move lower but the market did not manage to reach the key recent 50% fib resistance at 1.3898…a limited follow on so far today.
A follow on to the previous bearish engulfing pattern and bearish shooting star plus a first close below the long ma(currently 0.8892)…we’re retesting the overhead long ma resistance today.
A first close over the key jan-to-date downtrend (currently 106.49)…that trendline has been running the market this whole year…we’re retesting the trendline support today.
Closes above the long ma (currently 0.7799) and now the recent 50% fib at 0.7816…the market had used the medium ma support (currently 0.7770) to vault up…we’ve a follow on higher today…the market perhaps looking at the combination resistance around 0.7922.
NYMEX CRUDE FUTURES
The seemingly minor 38.2% fib at 59.96 has held as support a second time and prices tried up to the key 50% fib at 62.38…but failed…we’re trying up there again today.
Third bullish white soldier and first close over the upper tine of the 2018 bearish schiff pitchfork (currently 7198)…we’re moving up towards the recent high at 7320…finally…we’ve a bullish pipe bottom on the weekly chart.
A possible tweezer top on friday but today we’ve gapped up to the minor fib resistance at 12 440…we’ve significant resistance ahead between 12 552 to 12 719.
A gapped up open and close long white marubozo and we’ve pushed up over recent highs today.
A bearish hammer and a bearish harami as the upper tine of the Dec 2017 – Mar 2018 andrews pitchfork (currently 122.47) pressed down on the market.
A Bearish Black Crow…The Market Still Seems To Seek Comfort And Proximity Near The Gradually Descending Middle Tine Of The Sep – Dec 2017 Schiff Pitchfork (Currently 159.29)…Though We’re Today Testing The Lower Tine (Currently 156.78)
A bearish engulfing pattern and a bearish opening black marubozo as we tested back down to the recent 50% fib at 144.00…we failed to close below it but we’re testing down to it again.
LME 3 MONTH COPPER
A key reversal back up over the recent 50% fib at 6909 but the market failed to breach the medium ma (currently 6968) and to close over the middle tine of the Dec 2017 – Feb 2018 schiff pitchfork (currently 6955)…today…the two latter are resistance again as we’ve tried higher but moved back lower so far…we may be testing the 6909 50% fib as well.
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