MrAndroid

MrAndroid

Bitcoin pattern of inverse head and shoulders has emerged. Yesterday price sprung above the neckline only to wick back down below it again. Interesting.

MrAndroid

A previous long term high can act as a relevant support or resistance line even though it is over a decade old. That's where we are at now. I see the current gold price as a down trend in the channel indicated.

MrAndroid

The trendline from the bear market and the highest area of volume resistance in months now are acting as a barrier for further upside. Difficult to see how large traders can get this above this level.

MrAndroid

TLT looks bullish with a double bottom W pattern emerging today as the flight to 'safety' of bonds has been triggered by the SVB situation. The move is not a breakout yet and given past horrible fakeouts I would wait patiently until a breakout is properly confirmed.

MrAndroid

Oil Giant BP has enjoyed a spectacular run over the last couple of years. Now it looks exhausted with the price hitting the level of historic resistance that has lasted many years. The recent 2 weeks show a double top M pattern with a failure to break above the previous week's high.

MrAndroid

Recent daily chart shows a head and shoulders pattern indicating a risk of severe drop. Also the breakout from the downtrend line increasingly looks like a false one.

MrAndroid

It looks possibly that the recent all time high in the British FTSE100 index was a false breakout providing liquidity to shorts. Today the index is sharply down.

MrAndroid

The 2 year yield has dropped below the Fed Funds rate. This appears to be the bond market pricing in an imminent Fed pivot.

MrAndroid

The S&P500 today has breached significant trendlines and lines of support. I think a new downtrend is inevitable.

MrAndroid

It looks like todays vibes on inflation from Powel are spiking the dollar implying longer term high interest rates.

MrAndroid

The triangle pattern remains intact to the upside. Its probably not real.

MrAndroid

A rising wedge and divergence pattern had been visible for a few weeks now and today there is a strong breakdown from this pattern. Failure to break above the previous swing high. Bearish.

MrAndroid

S&P is now at a critical moment of decision as price retests the old bear market trendline. If this doesn't hold then I would be wary of another larger down swing.

MrAndroid

Over the last 2 weeks there have been several attempts to break above 4200. All failed. The current ascending triangle pattern could be tested today after bad producer inflation numbers yesterday. This could be a turning point.

MrAndroid

Natural Gas has fully got to the target set by the former head and shoulders pattern. The question is whether the long term support price is a true bottom. This one is knows fondly as the 'widow maker'.

MrAndroid

This chart of the long term price of USD versus Japanese Yen shows that recently we have a retest of support which roughly is the neckline of a very pronounced inverse head and shoulders pattern. This pattern has not been broken and remains intact despite recent dollar weakness.

MrAndroid

The 2 year treasury yield is a very good predictor of the Fed Funds rate. Since April 2022 the yield has formed a broadening ascending wedge pattern which indicates a potential move down. For the last couple of months the yield has been in a narrow downwind channel. With CPI data coming soon this could trigger a breakout either to the upside or downside which is...

MrAndroid

Here the Korean Won is clearly failing to break above the support zone indicated on the chart. This could mean another down leg for the Won. Several other currencies are showing charts of turning points versus the USD.