I have decided to move my daily market analysis here.
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Jan 23, 2019
Wednesday 23 January 2019:
Notice: Happy new year everyone! To think this is my first post of 2019. What a crazy couple of months it has been. As previously mentioned I started a new venture around September last year and as is the nature of any new business it soon started to consume most of my time. But hopefully now that things are more established I can slowly start giving some time to my market analysis.
Trading Update:
In browsing the markets today I found a potentially excellent setup for Brent Crude on Daily:
Looking at the long term picture on weekly we can see that the major level we are currently testing was first tested in the last week of February 2015 where it became resistance and three years later became major support in the first week of February 2018. Interestingly enough as we are once again approaching February it looks like the level might well be turned back into resistance again.
Looking at the daily (below), we can see that we saw a strong pullback from the last down trend but quickly heading into overhead resistance as confirmed by the thick red Ichimoku cloud. Our Ehlers strategy is also starting to line up for a short with the Inverse Fisher Transform turning red and the IFT of RSI going green. Now all we need for confirmation is the Elder bands to turn orange.
Wednesday 23 January 2019:
Notice: Happy new year everyone! To think this is my first post of 2019. What a crazy couple of months it has been. As previously mentioned I started a new venture around September last year and as is the nature of any new business it soon started to consume most of my time. But hopefully now that things are more established I can slowly start giving some time to my market analysis.
Trading Update:
In browsing the markets today I found a potentially excellent setup for Brent Crude on Daily:
Looking at the long term picture on weekly we can see that the major level we are currently testing was first tested in the last week of February 2015 where it became resistance and three years later became major support in the first week of February 2018. Interestingly enough as we are once again approaching February it looks like the level might well be turned back into resistance again.
Looking at the daily (below), we can see that we saw a strong pullback from the last down trend but quickly heading into overhead resistance as confirmed by the thick red Ichimoku cloud. Our Ehlers strategy is also starting to line up for a short with the Inverse Fisher Transform turning red and the IFT of RSI going green. Now all we need for confirmation is the Elder bands to turn orange.