Futures News

Euro Weekly Coil

Posted by Bruce Levy on

One of the problems with trading the longer term charts is timing, and waiting for the right opportunity.  It appears the euro is now trading on the prior lows once again after rejecting the highs. While my crystal ball is giving me no specific market direction it is telling me that more likely than not a coil with a downleg from higher prices is a bearish sign. In addition, the volume zones are telling me that we are likely to see a quick and decisive move out of this area.  It looks like price traded quickly through the low volume...

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Gold Hourly Analysis - Bulls Stepping In

Posted by Bruce Levy on

Hourly Gold chart has begun to consolidation and is showing a spike in volume on the 8AM print after testing prior lows from yesterday's mid day session.  As price trades up to the top of the 1 hour Linear Regression Channel we look for rejection activity. In addition, the most immediate resistance levels are found between 1248-1250. If price is able to pass through this level we can expect a test of prior days high. As technical traders we are not looking to predict, but rather to base decisions on scenarios that occur. Often what the market cannot do is the biggest clue...

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Euro Weekly Proprietary Analysis

Posted by Bruce Levy on

Ok so there is some Classical Technical Analysis here as well as my own observations which I've gone ahead and based trades on. The Euro weekly is at the top of the lin reg channel and so we look to trade it lower with the prior trend to the downside. However! Buyers have been coming in near the lows as you can see by the strong lower wicks. This may be due to a prior area of support from a long time ago - how much of this is psychology? I think all of it is. You see, from my...

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Euro retraces lower

Posted by Bruce Levy on

Euro finds resistance in upper low volume zone and was accompanied by lower daily volume on the upmove, causing it to retrace to the next lower level for a support test. A lower high with a new low into the NY session will call for a continuation short into the close. However, it may be possible we see a bounce from here. We will have a better idea towards today's close.

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Gold Daily Chart Resistance

Posted by Bruce Levy on

In this chart we take a look at Micro Gold Futures Daily Chart. Price has retraced near the midpoint of the downtrend based on the linear regression channel.  One thing that stands out here is the bear bar near prior resistance which is accompanied by low volume.  This is in an indicator of lack of buying for the current session.  In addition the Kaufman Adaptive Moving Average is flatting which indicates an increased likelihood of price pullback to the mean.

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