Technical Analysis

ANZ’s revisions to their oil demand forecasts were issued late last week. A snippet of commentary, firstly on the demand side: Crude oil recorded its biggest weekly decline since early April amid rising concerns of weaker demand. Demand indicators have largely held up, with global air travel improving as international borders are reopened. However, there

The US jobs report on Friday helped to initially move the dollar higher, stocks lower and yields higher. However, by the close, the dollar had come off high levels, stocks took back declines. Yields did stay elevated. What about the expectations going forward? What might the Fed officials reaction be to 528K new jobs? What

BTCUSD had a nice rally above 3% yesterday but volume is not strong and bitcoin can easily test the 20k mark or close to it. We aim for a short position with a ‘take profit’ target that is in line with testing an important VWAP, and is much higher than that 20 thousand dollar key

The US 10 year yield is moving to a new high at 2.869%. The current yield is at 2.853% as I type. That high has taken the yield to a new high for the week surpassing the 2.849% level reached on Wednesday. The high yield reached 2.869%. The current yield is trading at 2.853%. The

USD/JPY longs have been the trade-of-the-year in the FX market in 2022 and today’s strong jobs numbers make it more likely the trend isn’t over yet. The pair is up a whopping 220 pips today to 135.06. The gain wipes out much of a brutal four-day drop in the pair. Technically, it cracks the 61.8%

I wrote some strange data that’s weighing heavily on the oil market today and ZeroHedge picked it up. Big thanks to them and hopefully it gets us closer to an answer on where real gasoline demand is. In any case, the market certainly isn’t convinced that the data is bad because crude was down another

The USDJPY moved back above the 100 hour MA yesterday in the early European session (for the 2nd time on the day). A corrective move lower retested that MA line and pushed toward the 200 hour MA in the US afternoon session. After a dip today in the Asian session, the pair moved back higher

Both the NASDAQ index and the S&P index are trading above their 100 day moving averages, and both are up testing/moving above their 50% midpoint’s of the move down from the March high to the June low. Looking at the S&P index the 50% midpoint comes in at 4137.09. The current price is trading at

The EURUSD moved lower in the US morning session and in the process tested a lower swing area between 1.01148 and 1.0121. The low morning session reached 1.0122. The inability to extend lower, has seen some profit taking buying as the pair remains stuck in the range that has confined the pair between 1.0096 and

The AUDUSD fell sharply after the Reserve Bank of Australia raise rates by 50 basis points but softened the statements a bit. The tumble to the downside took the price below its 100 hour moving average (blue line) currently at 0.6985, and its 200 hour moving average currently at 0.69585.. The run to the downside

The EURJPY moved to the lowest level since May 13. The move also took the price below its 200 day moving average for the 1st time since March 16. The price entered into a swing area between 132.70 and 133.47, but could not sustain downside momentum. The price has bounced higher and trades near session

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The price of WTI crude oil futures are settling at $93.89. That’s down -$4.73 or 4.8%. The low price reached $92.42. The high price extended to $98.65. The low reached the lowest level since July 15. The July low on the 14th came in at $90.56. Technically, the price closed below its 200 day moving

A simple and clean technical analysis snapshot for the Japanese Yen vs US Dollar USDJPY is still in Short after crossing down a bullish channel shown in the price chart image and the technical analysis video below The crossing down triggers a bear flag, on the daily timeframe. This simple technical analysis formation tends to

US 10 year  yield  trading to new lowsThe US 10 year yields are trading at session lows of 2.624%. The high yield for the day reached 2.728%. The yield has moved below swing lows from April 13 and April 14 at 2.648% and trades at the lowest level since April 7. The next target comes

Old school technical analysis says that price itself is the most inportant technical indicator. Some claim that the most important part of technical analysis lies in the price itself, as it travels through time. ETH, in terms of technical analysis, is also a potential bear flag. Bear flags extend/continue a downward trend. The bear flag

The major US indices are pushing the early session highs after a dip lower after the open. Dow industrial average is making new highs up to 32769.29. S&P reached a new high at 4122.80. The prices up 48.72 points or 4121.21 NASDAQ index reached a new high of 12356.91. It currently trades at 12352.96 up

The price of WTI crude oil futures are settling at $98.60. That’s up $2.20 or 2.28%. The high price reached $101.87. The low price extended to $96.42. The price got a boost on the break of the $100 level, but could not sustain the momentum. Looking at the hourly chart, the move back to the