After a bearish Engulfing pattern on the previous week, the passing week ended as a bullish pinbar on sloping 8 EMA (short term sentiment line). The clear sign of strength is the fact that the open gap since the beginning of the year has been tested – but not closed. Taking out the Weekly High Read More
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After 6 consecutive clear bullish weeks, achieving the targets mentioned at this area, here came the passing week to make a bearish engulfing pattern, cooling the bullish enthusiasm. However, pay attention to the strong momentum by the penetration of the upper Bollinger band of the last three Weekly bars. It means that even if the market Read More
The market has decided to open the year very bullishly, leaving even an open gap up, and a very decisive move up. The target for the Weekly bullish pinbar on sloping 8 EMA, 4 weeks ago, has been conquered right at the first trading day. We are currently closed to the target of the Brexit Read More
Like in the previous week, in the passing week the FTSE100 was one of the strongest stock markets, printing a HH HL Weekly bar closing on its High. The Monthly bar has indicated a very convincing reversal up, as well as the Yearly bar has done. The most important picture is the Yearly picture. Being Read More
The FTSE100 was one of the strongest markets throughout the passing week, printing a HH HL Weekly bar closing on its High. Finally the Weekly swing High at 7067.34 was taken out, and the Monthly bar, 4 days before closing is printing a convincing reversal up. Last Monday the market gave a good signal as Read More
After the convincing bullish behavior at the week before, the passing week retraced to test back the 8 EMA, and to reverse back up in a way that cause the 8 EMA to bend and turn back upwards, a strong bullish behavior. Such an opportunity was recommended by the end of the last review. The Read More
The passing week revealed like in other stock markets that the bulls are back, with a convincing Weekly reversal up while respecting the important Low of 6654.48 mentioned coupled of times before. The current bullish setup to reach the 7250 level is back in play. We mentioned in the past also the level of 7215 Read More
The passing week has turn the bullish tendency into bearish, causing the price to decline and penetrate the Daily lower Bollinger band, and to take out the Weekly Low at 6693.26. At last Wednesday, the last day of the Month of November, there was a bullish attempt to close the month higher, that turned out Read More
The passing week was another relatively narrow range inside Weekly bar, continuing the slow advance upwards. The signs of strength for the near term are clear: the Weekly bar closed above the 8 EMA short term sentiment line, and the Daily bars showed no real weakness going through the down sloping Daily 20 SMA (mid Read More
The last two volatile price action weeks gave way to a narrow range consolidation week, the whole week as an inside price action within the range of the previous Friday (!) Being within an inner Daily bar environment, currently quite at the mid range, any signal on the 8H and above might be very misleading. Read More