A bearish harami and further tests down to the middle tine support of the June – September 2017 schiff pitchfork (currently 1.2261)…we’re still rejecting this and being bracketed on the topside by the recent 50% fib at 1.2358…additionally, we’ve a double top target below the market at about 1.1925…caution on that though!
An Indecisive Long Legged Doji Cross As The Market Again Failed To Effectively Break The Recent Key 50% Fib Support At 1.3898…Today…We’ve Gone Over The 38.2% Fib Resistance Of The Same Move…This Is Now Support
Finally…a follow on to the recent key reversal down with a bearish opening long black marubozo and under the October – December 2016 50% fib at 0.8834…this is now resistance…we tested down to the recent uptrend line(currently 0.8787)…we’ve held there so far.
An indecisive spinning top pattern…possibly a bullish harami…we’re still halted around a pair of 61.8% fibs from before 2017…however…today we may have a key reversal pattern…a close above 106.88 or below 106.58 would signify this…please note that key reversals are usually suspect on japanese yen pairings.
Just about a bullish butterfly doji with a second consecutive close back over the seemingly important 50% fib at 0.7817…today…we’ve followed on so far.
NYMEX CRUDE FUTURES
A nice follow on to the key reversal up…we’ve just about reached the horn type (double) bottom pattern target at about 63.85.
An indecisive doji cross on friday and an indecisive spinning top for the whole week…as cautioned last week…superficial bullishness may still disguise indecision…we’re still below the key recent 50% fib at 7303.
An indecisive spinning top but with a new high for the last couple of weeks…we’ve had a follow on to this late mild bullishness today with a move over the recent 38.2% fib at 12,547…this is now support.
A bullish open and close long white marubozo…a first close over the important recent 38.2% fib at 2745 and a second consecutive close over the recent 50% fib at 2705…we also have a bull hammer on the weekly chart…i cannot stress how important the closing above…or below…2705 currently is.
Still following on to the recent key reversal up with a close above the bearish upper tine of the September – December 2017 andrews pitchfork (currently 121.47)…this tine had been a good indicator of the bearish angle-of-attack of the recent market…it is now support…we’ve also closed above the centre tine (currently 121.85) of the schiff pitchfork for the same time period…this is now also support.
A great follow on to the bullish engulfing pattern with a bullish opening long white marubozo and a second consecutive close over the key 2015 – 2016 50% fib at 158.54 plus the upper tine of the September– December 2017 bearish andrews pitchfork (currently 158.49)…this tine had until recently run the bearish angle-of-attack of the market...as recently mentioned… we’ve formed a small rounded bottom pattern.
A follow on to the previous bullish harami and over the middle tine of the recent andrews pitchfork (currently 143.29)…this had been resistance and is now support….meanwhile…on the weekly chart we have a bullish doji.
A bearish harami and a bearish opening black marubozo…though once again…there’s little follow through to such patterns today…overall…the market is still showing reasonably wide ranges but seemingly calming down around the 7050 area…perhaps using this level as an attractor with occasional moves away and outside…there is also perhaps a large bear arc forming over recent months.
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