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Thursday, 2 April 2015
April 2, 2015
I was away yesterday so I couldn't make a post. It was an interesting day for soft commodities.
Love your charts Bouraq. I'm wondering if there is a slightly shallower channel forming on the FTSE. Thought it was interesting where it bounced from on 30th March. Might retest that line next week. If it does break down, then I'd be looking for potential support around 6500.
quite interesting ZZ. Friday (Futures - EU markets were closed) there was steep declines across indices, will be interesting to see what happens on Tuesday when markets open. I not sure if the green channel will be retested but never know :)
Yes I'm not sure which way it's going to go. 6700 feels like a key area. If bulls can defend that then I wouldn't rule out a push higher into mid-April (there's a daily gap to fill at 6983 sometime). There could be one more test of the high before a larger decline. My bear side says that if 6700 gives way then a trip to 6500-6520 is likely. Until price gets over the 34 ema on a 4-hourly basis I'm favouring lower for the next few days. One other thing I watch out for is lows 2-3 days after a full moon and highs or higher 2-3 days after a New Moon. This has worked 66% of the time since the beginning of 2014. We're at a Full Moon tonight (4/4) which suggests we could be approaching a low. Next New Moon is on 18th April. Of course there could be an exception, but I would never write off the bulls.
Just posted. I won't be posting all the charts every day anymore. It's not sustainable for me and it doesn't make an interesting blog. I will be posting only interesting setups starting next week.
another great set of charts.....thanks for all your hard work. Have a nice holiday weekend !
ReplyDeleteYou're welcome. You have a good one too.
ReplyDeleteLove your charts Bouraq. I'm wondering if there is a slightly shallower channel forming on the FTSE. Thought it was interesting where it bounced from on 30th March. Might retest that line next week. If it does break down, then I'd be looking for potential support around 6500.
ReplyDeleteThis is a very good one ZZ. Thanks for pointing it out. I will add this chart in the weekend with your permission.
ReplyDeleteVery happy for you to use it. I've learned so much from you with your generosity, I'm happy to be able to repay it in a small way.
ReplyDeleteThanks for the charts Bouraq. DAX charts are missing, but I think DAX is still within declining channel.
ReplyDeletequite interesting ZZ. Friday (Futures - EU markets were closed) there was steep declines across indices, will be interesting to see what happens on Tuesday when markets open. I not sure if the green channel will be retested but never know :)
ReplyDeleteYes I'm not sure which way it's going to go. 6700 feels like a key area. If bulls can defend that then I wouldn't rule out a push higher into mid-April (there's a daily gap to fill at 6983 sometime). There could be one more test of the high before a larger decline. My bear side says that if 6700 gives way then a trip to 6500-6520 is likely. Until price gets over the 34 ema on a 4-hourly basis I'm favouring lower for the next few days. One other thing I watch out for is lows 2-3 days after a full moon and highs or higher 2-3 days after a New Moon. This has worked 66% of the time since the beginning of 2014. We're at a Full Moon tonight (4/4) which suggests we could be approaching a low. Next New Moon is on 18th April. Of course there could be an exception, but I would never write off the bulls.
ReplyDeleteJust posted. I won't be posting all the charts every day anymore. It's not sustainable for me and it doesn't make an interesting blog. I will be posting only interesting setups starting next week.
ReplyDelete