turning attention to oil now brent/hourly input $0.300 by 3 reversal.close plot wow..this looks a one way ticket.price has retraced back to $110 ish.there is an activated vertical count that gives an upside target of $125,uneless price goes below 105 not good for stocks imho
a better chart for brent crude.hourly data still 0.40 by 3 reversal..close there is an activated count at $122 and an unactivated for £136 area
west texas crude/nymex 10 min data input 0.70 by 1 reversal...close price plotted $100 area prevres acted as support.this looks to be a strong supp area
nymex crude $1 box size by 1 reversal...close plot breakout on friday..same time as nfp data called the shots for stocks.easily seen on this chart 10 minute data
nymex crude 34 cents by 3 reversal.hilo 10 min data from 22 february uptrend went into consolidation from last monday,followed by a break of support on thursday/103 area.in a minor downtrend now,with supp showing at 99.50 area.the critical $100 area do we move up ?? or minor downtrend continues ??
the bigger picture hourly data going back to 20 january 0.25 cents box size by 3 reversal the s/r areas show up nicely the latest downtrend just looks like a correction to the uptrend..see what happens at this res area looming at 101.50 ish
dollar index,now taken on a very bearish scenario 0.280 by 3 reversal..hilo plot.the last consolidation has broken down,with a long downward thrust column/black line,vertical count of 70 ish.uneless support comes in...good for stocks and commods thinking that is not so much the interest rate rise expected in euroland,more about debasing the currency with qe3 ?? does that seem right ?? let me know
eurusd.daily data as we go yo nfp on friday.chart is bullish,and it has a long way to go before it becomes bearish.a slight overstretch on the last break and previous res area stopped it/possible temporarily 62 pips by 1 reversal/close portugal debt downgrade or nukes did not stop this uptrend nfp might just stall it temporarily.but no sign of a reversal as yet