Today has been mostly sideways and mixed so far. As of now, I am calling this a range day with mixed trading. That could change as the day progresses, but that is what we are looking at for now as I am posting this report. Remember to trade range rules on range days, however, if […]
As you might expect, prices did reverse on the oversold conditions from the daily chart. The rally has been rather large so far this morning, and there is a large overhead gap on the chart. Should prices turn down at some point and start trending lower, filling that gap could be a target. If so,
The trend is down and down strongly this morning. Prices are easing into oversold territory, but that doesn’t mean they will reverse right away. We could still see more downward movement, and prices can stay oversold longer than you would expect. Just follow the price action and let it show you what it wants to
Sorry that I was unable to get to the chart lesson yesterday. I still had an emergency power situation which we worked on until 9 PM, and I just couldn’t get back to get it done. I should have one out today though. Prices are rallying as I am typing this up, but this appears
The trend has reversed today, turning down off of the long-term resistance on the daily chart. For now, I will call the bias down and down strongly. It looks as if there is an overshoot on the two-tiered channel I have drawn, but maybe the lows are much further down. It’s hard to know at
I am back in the office this week, but I will only be here sparingly. I will come in to do the mid-morning report, then leave again, and return in the evening to do the YouTube chart lesson. I have so much work still to do to recover from this storm. We are trying to
Prices are mixed and range bound so far this morning. Right now, the path of least resistance appears to be down, although that does not mean we are going to see prices go lower today. Prices could just chop sideways the remainder of the day or even push higher. I am leaning to the downside,
Prices rallied and filled the upper gap that was created during the MLK holiday. However, that rally has now left a lower gap on the chart, and prices may need to fill that gap as well. That target is down at 6916.00. If prices start trending lower again, that would be a likely first target
So far this morning, prices are rallying and trending higher. There is a lower gap on the chart this morning, so prices could attempt to turn lower and fill that gap at some point. That gap target would be down at 6837.50. There is also still a large overhead gap from the holiday lower open.
Prices are mostly sideways and mixed this morning after a gap down on the MLK holiday trading. It is very possible that prices will attempt to fill that gap and if so, that target is up at 6977.75. For now, there appears to be strong resistance around the 6900.00 price level, so prices will need