Short-Term RSI has gone below 50, and is really divergent from price. I recently realized the EUR/USD pair are likely about to complete a H&S pattern…which if the target is reached will take us to 1.106. Mid-Term Here the uptrend has been broken. Some support at 1.116 and 1.10. In other news, JNK has been …
Month: April 2016
Might expect oil to pull back a little from this point…maybe testing 41.50 again before possibly moving higher again. Not sure why the EUR is dipping at the moment. Maybe we do test 1.12 after all?
So I’ll be keeping track of JNK for now as well. Should note that I will be tracking the NAV and not the actual trading price. And no Long-Term for it as the security hasn’t existed long enough. This will leave me without the ability to do volume analysis. (I actually could probably code a …
seriously. But looks like I might have to take back my claim about fundamentals being dead. And Gartman might not die after all. But this is still quite early in the session…we’ll see what rumors are generated overnight in Europe. http://www.zerohedge.com/news/2016-04-19/kuwait-oil-workers-strike-over-press
EUR – Small conflicts of momentum | Crude is beginning to look interesting | Russell – Constructive
By Eric
on Tuesday, April 19, 2016
Let’s just get to it shall we. EUR Short-TermSo a while ago I had said the target was reached and while that was correct, this was just the resistance target. A short while later we did actually move even higher to basically match 1.1445. Thereafter we teased the resistance level a couple more times and …
Although it technically still needs to close at that level for the week. If I had bet on that target though I would be taking my money off the table at the moment. Partially because I don’t want to bother looking at the RSI right now and partially because 1.1425 is major resistance.
Real updates on Oil and Russell will come later (end of week? not sure). Oil is kind of still at an inflection point though. However I’m leaning towards bearish and a target of at least $34 but since it’s the middle of the week and I don’t track short-term oil, especially when it’s mid-session no idea …