The CQG Analog Chart, which is a chart display that plots multiple markets, has crude oil (blue bars), gasoline (light green close only line), and heating oil (white close only line) plotted. In addition, I have the RSI study plotted for each market using the same colors as the prices.
The RSI readings for crude oil, […]
Today, the Euro FX futures (EUR/USD pair) initially slipped lower following yesterday’s down close. But, buyers have come in as the price tagged the demand line of the up trend channel, as well as the low is in the support zone. The market is in the middle of the new uptrend channel.
The trend is now […]
While the market did close higher yesterday, the close was back within the resistance zone, and today, sellers have come into the market. The price action today has broken the demand line of the upward trend channel (TC A), but is holding above the demand line for the next trend channel (TC B). The market […]
Higher oil prices and comments by Federal Reserve Board Chairman Bernanke, who is testifying before the Joint Economic Committee, have brought out the sellers. The exchange-generated volume ratios indicate sellers are in control.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index derivative products are indicating weak momentum. The […]
This morning, just 11-percent of the 228 ETFs I track are showing a positive gain. Energy and Precious Metal exchange traded funds are dominating today’s list of best performing ETFs. Excel is linked to CQG for the data.
Today, the market is waiting and watching for comments by Federal Reserve Board Chairman Bernanke who is testifying before the Joint Economic Committee. The current price action is holding above the support zone on the daily chart. The daily RSI readings are still indicating a trading range with a bullish bias.
The Constant Volume Chart is […]
The CQG Analog Chart, which is a chart display that plots multiple markets, has crude oil (blue bars), gasoline (light green close only line), and heating oil (white close only line) plotted. In addition, I have the RSI study plotted for each market using the same colors as the prices.
Last night the energy markets literally […]
Today, the Euro FX futures (EUR/USD pair) are holding above the support zone. The market is in the middle of the new uptrend channel.
The trend is still up because the recent extreme daily RSI readings have peaked above 62.
The Constant Volume Bar chart is set to 1,000 contracts with the CQG SnapTrader . As […]
Today, gold edged above the nearby resistance zone, and sellers have brought the market back down. Yesterday, the market closed lower and the RSI formed a pivot high below 62, which signals a trading range. Now, if the market closes higher today (above the upper side of the nearby resistance zone), then momentum is turning […]
Traders turned sellers in reaction to the lower than expected March Consumer Confidence reading. The NYSE volume ratio is running at 19 percent up-volume and the NASDAQ volume ratio is 35 percent up-volume. Both ratios indicate sellers are in control.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index […]