Continuing follow on to the recent key reversal up with a test of the recent 50% fib at 1.2358…but no close over it so far…today we’re testing up to it again…there’s still a double top target below the market in the 1.1925 area.
The recently broken nov 2017-to-date uptrend (currently 1.3803) has held up so far…topside has some nearby resistance from the recent 50% fib at 1.3898…we’ve still a double top target in the 1.3675 area.
Almost an outside day and nearly a new high for 2018…but not quite…we’ve tested the long ma support (currently 0.8888) yet again but held up so far.
A new low for 2018 and 2017 but also a bullish piercing line pattern and a possible pipe bottom…the market recently seemingly strayed too far away from the jan-to-date downtrend (currently 107.10) and has been brought back into check. This downtrend is still driving the market lower…look out for the 2016-to-date uptrend (currently 104.35) below the market.
Last week’s weekly key reversal down has been met by a key reversal up yesterday on the daily chart…however…it was also a long legged …mildly bullish…doji…today we’ve tested up over the medium ma again (currently 0.7769) and as far as the long ma (currently 0.7792)…though no further at this time.
NYMEX CRUDE FUTURES
A follow on to the possible pipe bottom…with a first close back over the recent 50% fib at 61.38…watch this one!
An indecisive doji cross…a rickshaw man.
A key reversal up!
A first close back up over the key 2705 level…recent action might be a form of a bullish stick sandwich…but too early to say.
A bearish engulfing pattern as the market rejects for the moment the key 50% fib resistance at 123.33 .
An indecisive spinning top as we rest upon the support of the middle tine of the sep – dec 2017 schiff pitchfork (currently 159.42)…we were yesterday approaching the key 50% fib resistance at 160.59.
A follow on to the key reversal down and possible pipe top from yesterday…though it was with an indecisive spinning top.
LME 3 MONTH Copper
An indecisive doji…possibly bullish…after a previous indecisive spinning top pattern…we’re still over the key 50% fib at 6909 and today we’ve tested up to the medium ma resistance (currently 6972).
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