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In the commodity market, oil prices have recovered some of their recent losses but are set to end the week lower amid worries about weak demand caused by a resurgence of COVID infections. So far, WTI and Brent have gained about 0.10% each to trade above $40 and $42, respectively...
US equities ended higher on Thursday after a rough session. Investors reacted to mixed economic data, with optimism surrounding the surge in new home sales offsetting the disappointment caused by the surprising increase in jobless claims...
Pivot (invalidation): 40.10 Our preference Long positions above 40.10 with targets at 40.75 & 41.20 in extension. Alternative scenario Below 40.10 look for further downside with 39.70 & 39.40 as targets...
Pivot (invalidation): 22.5000 Our preference Long positions above 22.5000 with targets at 23.3500 & 23.9000 in extension. Alternative scenario Below 22.5000 look for further downside with 22.0000 & 21.6500 as targets...
Pivot (invalidation): 1858.00 Our preference Long positions above 1858.00 with targets at 1877.00 & 1884.00 in extension. Alternative scenario Below 1858.00 look for further downside with 1848.00 & 1840.00 as targets...
Pivot (invalidation): 3209.00 Our preference Long positions above 3209.00 with targets at 3278.00 & 3325.00 in extension. Alternative scenario Below 3209.00 look for further downside with 3175.00 & 3135.00 as targets...
Pivot (invalidation): 12505.00 Our preference Long positions above 12505.00 with targets at 12685.00 & 12830.00 in extension. Alternative scenario Below 12505.00 look for further downside with 12415.00 & 12300.00 as targets...
Pivot (invalidation): 7.6470 Our preference Short positions below 7.6470 with targets at 7.6040 & 7.5780 in extension. Alternative scenario Above 7.6470 look for further upside with 7.6710 & 7.6980 as targets...
Pivot (invalidation): 0.7040 Our preference Long positions above 0.7040 with targets at 0.7075 & 0.7110 in extension. Alternative scenario Below 0.7040 look for further downside with 0.7015 & 0.6990 as targets...
Pivot (invalidation): 1.3375 Our preference Short positions below 1.3375 with targets at 1.3320 & 1.3290 in extension. Alternative scenario Above 1.3375 look for further upside with 1.3415 & 1.3450 as targets...
Pivot (invalidation): 0.9245 Our preference Long positions above 0.9245 with targets at 0.9280 & 0.9300 in extension. Alternative scenario Below 0.9245 look for further downside with 0.9225 & 0.9210 as targets...
Pivot (invalidation): 105.30 Our preference Long positions above 105.30 with targets at 105.55 & 105.70 in extension. Alternative scenario Below 105.30 look for further downside with 105.15 & 105.00 as targets...
Pivot (invalidation): 1.2775 Our preference Short positions below 1.2775 with targets at 1.2730 & 1.2705 in extension. Alternative scenario Above 1.2775 look for further upside with 1.2800 & 1.2825 as targets...
Pivot (invalidation): 1.1685 Our preference Short positions below 1.1685 with targets at 1.1650 & 1.1625 in extension. Alternative scenario Above 1.1685 look for further upside with 1.1700 & 1.1720 as targets...
The daily is turning up against the March 2020 lows at 1.1412. The 4 hour is turning down against 1.3485. The 1 hour right side is down against 1.2866 to correct the cycle from the March 2020 lows...
The larger correction against 2009 lows is proposed complete at 8249 on 3/16/2020 where the daily and 4 hour are turning up. The 1 hour is turning down against 13462 to correct the cycle from the March wave ((2)) lows...
The daily right side is up against 8/16/2018 low at 1159. The 4 hour right side is up against 1668. While below 1973 where the hourly is turning down Gold can correct the cycle up from the March lows. SELL GOLD @1870-75 TP: 1848-40 SL: 1890 GOOD LUCK Update idea...
Don't trade against the trend! I think everyone has heard this more than once. But the statistics show something completely different. Most loses his money trying to reverse the market with its opposite orders, naively believing that the trend has already reversed...
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