After last week’s insane volatility I suspect that we are in a period of consolidation in many markets. Some charts are sporting sell divergences while others definitely seem poised for a lot of noise (normal after a strong trend).
- GC: Consolidating – buy flushes for scalps.
- SI: This should form bull flag on daily now.
- HG: Bear flag?
- ZB: 5 SMA Buy
- ZC: Bear flag
- CL: Large daily triangle / consolidation
- NG: Bear flag?
- EMD: Back into middle of daily range
- YM: At a resistance level
- NK: Looks like a bear flag
- FDAX: Also looks like a bear flag
- EC: Still inside a giant descending wedge
- BP: Shorts should pull stop down to Friday’s highs
- JY: Daily sell divergences forming
- NE1: Consolidating around last week’s breakout point
- MP1: Middle of range
- DX: Middle of range
- BTC: Back inside giant daily bull flag
- FGBL: 3 day Triangle
- FESX: Another equity market that looks like its forming a bear flag
- NOK: 5 SMA Sale – breakdown suspect now though
- USDSGD: Probably the best chart formation on the board that is poised for a breakout.