A second consecutive close over the key recent 50% fib support at 1.2358…but also an indecisive spinning top pattern…a little hesitation ahead of testing the 2018 highs at 1.2522, 1.2536 and 1.2556.
We’ve tested again the key recent 50% fib resistance at 1.3898 and chose to close right on it…we may be coming to a cusp as we have the broken but still good uptrend rising today at 1.3822 plus the significant recent downtrend just above the market at 1.3958.
A small follow on to the bullish piercing line pattern but seemingly with a possible bearish shooting star action.
A bullish doji as the market seems reluctant to try the recent 105.22 low and just below that the slowly rising 2016-to-date uptrend below (currently 104.37)…the downward pressure’s still provided by the jan-to-date downtrend (currently 106.79)…this is still pressuring the market lower…just beware of the previosuly mentioned uptrend.
A bullish dragonfly doji and a second consecutive close over the important 50% fib at 0.7816 plus both medium and long mas…however…there’s been no follow through so far today.
NYMEX CRUDE FUTURES
A bearish long black marubozo with an open and close below the recent key 50% fib at 62.38…this follows the previous indecisive doji cross as we halted at the combined resistance at 63.39.
A bullish white soldier and third close over the recent 50% fib at 7090…no follow through so far.
A key reversal up (just) and a bullish engulfing pattern plus a first close back over the very recent 50% fib at 121 61.
A bullish white soldier and third consecutive close over the key 2705 level despite opening below yesterday…the market had pushed up and away from the medium ma (currently 2676) as well…no follow through today so far.
A small follow on to the previous bullish hammer pattern….overall…the market still seems keen to stay around the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 121.57).
An indecisive doji cross…the market seems to seek comfort and proximity near the middle tine of the sep – dec 2017 schiff pitchfork (currently 159.35).
A little confusion…we have a possible bearish hammer (i know it wasn’t a bearish black crow beforehand…but stay with me on this one…) or a possible bearish shooting star…though in the wrong place as well…however…we do indeed have a small bearish harami… though no follow through today so far.
A Bearish Harami And A Close Below The Medium Ma (Currently 6969)…This Is Now Resistance…We’re Testing Today Down Below The 50% Fib At 6909…This Is Now Also Resistance…Though Probably More On A Closing Basis.
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