Hugostock

Hugostock

Big move in SAPPI today. Would like to see a close above 5438 and target of 7180

Hugostock

Levels to watch: 50 DMA:1793.67 200 DMA: 1792.06 Monthly Open: 1774.93 50% Retrace off March 2020 Low: 17.63.16 61.8% Retrace off Aug 2021 Low: 1755.81 100% Expansion off Nov21 High: 1716.98 2021 Low: 1676.86 Gold has been closing for the last week below the 50 and 200 DMA. A break below the December low (and 50% retrace off the low set back in March 2020) could...

Hugostock

200DMA: 1791.73 50DMA: 1789.69 Monthly Open: 1783.40 Gold is currently holding support at key levels. It closed briefly below the 200DMA but held above the monthly open, which is just below the 200 and 50 DMA. If we close the week above the 200DMA, we could see Gold trading higher again from here. A break and a close below the monthly open could potentially...

Hugostock

Accurate or not? A sign of what's to come? Only time will tell...

Hugostock

After the initial break of the 4260 level, SAPPI is back at a point of interest, the 50% upper median parallel of the pitchfork since the March 2020 lows. Just below, we have the the 50MDA & 200MDA. I would like to see this holds for bullish conviction, but there are lower support levels for possible entries, the 38.2% retrace (3913) and 50% retrace (3449)....

Hugostock

SAPPI is currently holding the 38.2% retracement off the highs as resistance. Looking for a break of 4260 to go long, or a drop back to 3721, (or 3495). Target 5100

Hugostock

JSE:SAP Touching the 200DMA today, with the 38.2%retracement off the lows, and 127% expansion off the highs coming into play.

Hugostock

We are entering the 4th week of BTC sitting at the 50% retracement from its highs. Divergence is forming on the daily RSI, but without a meaningful bounce long trades remains at risk, with a potential bull trap in the making. We need to see a move above the 200DMA again, (currently seen as resistance.) for the uptrend to continue. For now it seems like the 50%...

Hugostock

The Trendline from October seems to have fend off further losses in BTC by holding strong for the last 5 days. RSI is still in heavy oversold territory, with no indication yet that the drop/correction/crash (whatever you want to call it) is over. If the week close above this line, that's check 1. Daily close above 42000 (The 100% expansion off the high), check 2....

Hugostock

After teasing with a break to the upside Ood Mutual (JSE:OMU) has remained within the medium term pennant, and is currently wedged between the 50MDA and 200MDA. A dialy close above or below either one of the two could confirm the direction of a break. With BV/S at 14.23 the bets is on for an upside break, target the Feb high with stops below 12.00, or 11.60

Hugostock

Bitcoin has reached the crucial support zone mentioned previously (link to related ideas). It tagged the 200DMA which is just below the 100% expansion off the highs. Further below that is the trendline from October 2020, and below that the 50% retracement off the highs, at 34377. RSI in oversold territory but no sign of a change of momentum yet. These levels...

Hugostock

Divergence have been forming for BTC since the start of the year. Daily RSI dipped below 40 for the first time since the brief visit in September last year. The 61.8% retracement off the highs set in April is just above the 50DMA and have been resistance for the last 4 days. With momentum dropping we could see a larger pullback. A pullback to 40k level and a hold...

Hugostock

Continued Dollar weakness could see the USDZAR continue its downward trend into the range of 12.93 - 13.181, Which is the 161% expansion off the high and 78.6% retracement off the 2018 lows.

Hugostock

GBP is performing strong against the dollar. After break of multiweek resistance it reached the first upside target of 1.4077. Next target 1.45506. Previous resistance is now support

Hugostock

200DMA was tagged and resistance levels mentioned in previous post still holding.

Hugostock

Confluence of resistance for GOLD: September Swing Low at 1849.21 200DMA: 1855.34 50 DMA: 1859.03 Monthly Open: 1863.84 Upper parallel of downward channel since August 2020 Need a close above Monthly Open 1863.84 to aim for target at 1919.84/1930.19 If resistance holds, downside targets 1763.16/1739.34, if this breaks next target 1689.57/1677.81

Hugostock

GBPUSD has been sitting at resistance for more than a month. Short with target at 1.3312/1.3243 Upside break of January's high target 1.4077

Hugostock

Short with stops against Yearly OPEN, uptrend to continue when daily close is above 2021 OPEN