Indices and Oil Maintain Uptrends

Indices and Oil Maintain Uptrends

Some patterns are still in progress from a prior post.

DJI & RUSSELL 2000 Consolidating

Dow Jones Industrial has been consolidating for the past few weeks, following the sharp bullish wave from late December. On a breakout of the consolidation resistance of the wave, we may see a retest of the all-time high again near 27,000.


Meanwhile, the RUSSELL2000 which measures the performance of 2000 thousand small-cap companies has been underperforming. usually, this is not a positive indication for the U.S. economy. However, the consolidation is taking the shape of a bullish flag. Meanwhile, the index remains below the neckline of a potential head and shoulders bottom formation near 1600 key level.

EURCHF Bearish Continuation Formation

Looks like the pair has broken the support of the descending triangle consolidation around 1.1185 . Bearish resumption might have been confirmed.

AUDNZD At Crossroads


AUDNZD is retesting a key juncture area at the main falling trend line and the 50-day simple moving average in addition to a horizontal resistance area. Look for a bullish breakout confirmation for more upside. Or signs of a bearish reversal to play it to the downside.

WTI Crude Oil Maintains Uptrend


WTI maintains the bullish trend, following the completion of the head and shoulders bottom formation. The price has been consolidating in a sideways rectangle pattern for the past couple of weeks. We could see an extension of the upside towards 64.00 next main resistance area if we take the resistance of the consolidation.

Lu'ay Af.
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Lu'ay Af.
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  • Nice charts and the only accuracy I can get as I’ve been following these guys looking for the big down move and pulling me in with their foolish View