A third bullish white soldier after following on from the recent key reversal up and the first to close over the key recent 50% fib at 1.2358…that is now support…today we’re testing higher still and may soon look at the 2018 highs at 1.2522, 1.2536 and 1.2556.
The market tested the key recent 50% fib resistance at 1.3898 but failed to close over it…today we’re testing it again…please note the significant recent downtrend just above the market…it’s currently at 1.3983.
No follow on to the ‘almost’ outside day yesterday…instead we’ve a bullish piercing line pattern…almost a bullish double pattern…a small follow on higher today so far.
An indecisive spinning top pattern…today we’ve tried back down as the market returns to the direction provided by the jan-to-date downtrend (currently 106.95). This downtrend is still driving the market lower…however…look out for the 2016-to-date uptrend (currently 104.36) just below the market.
A bullish long white marubozo follows a key reversal up/long legged (bullish) doji…we closed back up over the medium ma (currently 0.7769), the long ma (currently 0.7794) and even the dec 2017 – jan 2018 50% fib at 0.7816…however today…we’re testing back down to the long ma.
NYMEX CRUDE FUTURES
An indecisive doji cross…not quite a rickshaw man…as the market halted at some combined resistance at 63.39…today we’ve opened below the recent 50% fib (now resistance) at 62.38…despite forming two consecutive closes over it…watch this one!
A bearish doji…possible spike up…follows an indecisive rickshaw man...today we’ve gapped lower but still within monday’s range…so far
A Follow On Up To The Previous Key Reversal Up But With Bearish Inverted Hammer Type Pattern (I Realise That We’d Need A Bearish Move Prior To Be A True Inverted Hammer…But Still…) …Today We’ve Gapped Lower.
A second consecutive close back up over the key 2705 level and recent action was indeed a bullish stick sandwich… however…today we’ve gapped open down under the key 2705 level.
The previous bearish engulfing pattern is now followed by a bullish hammer pattern….overall…the market seems keen to stay around the gradually descending middle tine of the sep – dec 2017 schiff pitchfork (currently 121.58).
A second bearish black crow as the market seems to seek comfort and proximity near the middle tine of the sep – dec 2017 schiff pitchfork (currently 159.38).
A small bullish harami after the indecisive spinning top...a spike up today so far but within the last two day’s action.
LME 3 MONTH COPPER
A first close over the medium ma (currently 6971) and we tested up over the very recent 50% fib at 6993 but the closed only just under it…today we’ve tested back down to the medium ma.
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