Another indecisive spinning top…the market has seemingly halted at the centre tine support of the bullish June – September schiff pitchfork (currently 1.2217)…we’ve almost reached the double top technical target coincident with the 1.2160 fib.
A bearish black crow and a close back below the key nearby 50% fib at 1.3898…we still have potential for double top pattern with a likely target coincident with the October 2017-to-date 50% fib at 1.3683.
A follow on to the bullish hammer with first closes the key October – December 2016 50% fib at 0.8834 and the medium ma (currently 0.8854)… these are now support…we breached but did not close over the long ma (currently 0.8869)…this is still resistance.
Limited follow on from the bearish key reversal back down with a doji cross on the daily chart…we’re still and under the recent h+s neckline (currently 109.36).
AUSSIE DOLLAR
A second close below the key 50% fib at 0.7817 of the whole December 2017-to-date move up…however…the market tested down to the key ma 0.7767 (medium ma) and 0.7760 (long ma) and though it breaching one it failed at the other and reversed back up…today we’re back over the key 50% fib.
NYMEX CRUDE FUTURES
A third bearish black marubozo and second close below the key recent 50% fib at 61.38…this is now resistance…we’ve tested down to combination of the October 2017 – jan 2018 50% fib at 57.89 and the November – December 2017 congestion area 55.80 – 58.00…we’ve rejected them so far.
An indecisive spinning top pattern.
DAX FUTURES
A second bearish black crow and we closed barely underneath the 12,050 – 12,300 congestion zone…however…we’ve just about reached the 11,850 target area for the recent double top pattern.
A second close below the medium ma (currently 2641) and 50% fib at 2647 …but the key feature is the horn double bottom formed on the daily chart on Friday and covering the whole of last week…we’re currently retesting the medium ma resistance.
A bullish harami following a bearish long black marubozo…the market is currently showing an aversion to testing the bearish upper tine of the September – December 2017 andrews pitchfork (currently 122.52) though this tine is actually showing a good indication of the angle-of-attack of the recent bearish market.
BUND FUTURES
An Indecisive Doji Cross Follows An Indecisive Spinning Top…We’ve Come Down A Second Time In The Last Couple Of Weeks To The Lower Tine Of The September – December 2017 Schiff Pitchfork (Currently 157.37) And Hesitated Or Pulled Back Up…Caution!
An Indecisive Doji Cross…Today We’re Trying Lower To The Support Of The Middle Tine Of The 2016 – 2017 Schiff Pitchfork (Currently 143.01).
LME 3 MONTH COPPER
Market continued to follow on to the recent key reversal down finishing the week with a weekly key reversal down and further closes below the recent 50% fib at 6909 plus the medium ma (currently 6899)…whilst they are resistance they are also being tested today.
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