Follow on to the bearish engulfing pattern and second consecutive close below the important middle tine resistance of the jun – sep 2017 schiff pitchfork (currently 1.2274)…we’ve closed below the feb low at 1.2204 and we’re now testing the support band 1.2172 – 1.2160…there’s a double top target below the market in the 1.1925 area.
Follow on to the previous bearish black crow with a bearish open and close black marubozo and a first close not only below the recent key 50% fib at 1.3898 but also below the nov-to-date uptrend (currently 1.3776) …we’ve also made a new 2018 low…the market seems to be consolidating under all this resistance…below we’ve a double top target in the 1.3675 area plus the oct 2017-to-date 50% fib at 1.3683.
The cautious test back down mentioned yesterday turned right around as the market seemingly didn’t like going below the 2018 uptrend (currently 0.8801) and made a nice key reversal up through all the mas apart from the long ma (currently 0.8885)…we’re now testing the upper channel (currently 0.8873) of the old broken nov 2017 – jan 2018 channel which may still have some force ahead of the long ma.
A BEARISH ENGULFING PATTERN AS YET AGAIN THE RESISTANCE OF THE 2018 DOWNTREND (CURRENTLY 107.41) PRESSURES THE MARKET LOWER.
A bearish closing black marubozo followed the bearish long black marubozo with not only a second close below the key 50% fib at 0.7817 but also slicing down through the congestion made up of the long ma (currently 0.7788) and the medium ma (currently 0.7772)…today we’ve tried lower and we’re below the lower tine of the may – dec 2017 andrews pitchfork (currently 0.7733) plus the 2017 50% fib at 0.7730.
NYMEX CRUDE FUTURES
A second bearish black crow as we follow on to the bearish opening black marubozo and bearish engulfing pattern combination…we’ve halted for the moment at the recent 50% fib at 61.38…watch this one!
A bearish black crow…almost an indecisive spinning top…but lower…followed on to the previous bearish outside day…so far today the market has not lined the downside an dif we closed right now we’d have a bullish dragonfly doji pattern…please still note…superficial bullishness may still disguise indecision…today we’ve moved further down and away from the 50% fib at 7303.
DAX Futures an indecisive doji cross
A follow on to the bearish combination of a key reversal down…a pipe top and a rejection of the key middle tine of the 2016 andrews pitchfork (currently 2785)…all this with a second bearish black crow and long black marubozo…we’ve tried lower today but have been halted at the key recent 50% fib at 2705…enough that if we’d close right now we’d have a bullish dragonfly doji.
The recent key reversal down has been countered by yesterday’s bullish engulfing pattern with a bullish long white marubozo…we’re back above the bearish middle tine of the sep – dec 2017 schiff pitchfork (currently 121.73) and still over the upper tine of the nearby andrews pitchfork of the same move (currently 121.15)…this last one has been a good indicator of the bearish angle-of-attack of the recent market.
A Bullish Outside Day And A Bullish Double As The Market Seemingly Rejects The Chance Of A Tweezer Top…Today We’re Back Over The Middle Tine Of The Sep – Dec 2017 Schiff Pitchfork (Currently 159.51)…Additionally We’ve A Small Gap Just Above From Jan
The market rejects the try below the middle tine of the sep – dec 2017 andrews pitchfork (currently 143.17)…we may be forming a possible bottom…maybe v shaped…over recent action.
Lme 3 month coppera follow on to the bearish engulfing pattern with a first close below the recent 50% fib at 6993 plus the medium ma (currently 6970)…today we’re testing the dec 2017 50% fib support at 6909.
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