May 1, 2016

  • Crude oil week moves back to the cloud. price broke below the cloud when it was around 100. Now price may stall or a correction is possible from the current levels.
  • Daily chart shows price at possible channel resistance. MACD shows possible negative divergence developing. Now Crude bears need price to show some weakness here to confirm negative divergence.
  • Yen Vs US Dollar Weekend update

  • Month of USDJPY is likely to hit 100 - 101 Levels for this breakdown. There could be bounces at 105 and 103 Levels which is likely to be small. If the Daily structure remains like what is shown above price is likely to hit the Monthly Target soon.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore