Category Archives: Weekly Charts

The Market Indices Are 4% Above Support And 4% Below Resistance – These Are The Breakout and Breakdown Levels

Tuesday’s sell-off was in sharp contrast to the rally traders had enjoyed just 24 hours earlier. Monday market elation over what was initially thought to be a positive G-20 outcome, had evaporated overnight. On Tuesday morning it was clear that the specifics of the supposed trade truce were unclear. Markets started off the session lower… Read More »

Support Vacuum On The Crude Oil Chart – Prices Could Be Headed Much Lower

Here’s our analysis of the West Texas Intermediate Crude Oil Continuous Contract (WTIC) weekly chart. A large inverse head and shoulders base began forming in late 2015 and was completed in November 2016. The neckline was situated in the $51 area and that pattern resistance was broken at the end of 2016. The breakout failed… Read More »