Weely Report 13
Hi everyone,
After the holidays, we have a nice week ahead and with this week we are to close the first trimester too. And this means that until the first of april we don't expect huge movement in the markets and probably after thursday we can see big movements, let's go to see the charts.
Dollar Index:
The price is out of the bearish channel and this tells us that we should expect an upward movement. In any case I expect to see significant movements when to end the first quarter ie from next Thursday.
Last week I said "Therefore bullish facing its first hurdle 40.00 area. Close above 41.50 will open the door to new impetus to the area from 48.00 to 50.00". And everything remanins the same for this week.
Despite the retracement We Have in price last week During, the bullish channel remains. And until the price does not move out of the channel we should not expect setbacks in the bullish trend. Below 36,00, the uptrend will be finish.
The last session leave us a hammer a accumulation candle and the price remains in the channel so the first support for this week will be 38,00 and the second 36,00. Above 40,00 we can expect new highs and the main resistance is 42,00.
After the holidays, we have a nice week ahead and with this week we are to close the first trimester too. And this means that until the first of april we don't expect huge movement in the markets and probably after thursday we can see big movements, let's go to see the charts.
Dollar Index:
Last week I said "I hope to see the active performs a rotation to the top of the channel." and as you can see we are on the way, 96,50-97,00 is the first target and the second 97,50-98,00. Once the rotation is finish I expect that price reach 95,00 94,50.
If the Dollar continues the bullish trend this will be an impediment to see new highs in the Crude.
Vix:
The price is out of the bearish channel and this tells us that we should expect an upward movement. In any case I expect to see significant movements when to end the first quarter ie from next Thursday.
Currently the price is in a support area from 14.00 to 12.00 and therefore is a very important resistance area and see the price below this level is very difficult. We may see a new retest.
Monthly Oil:
Last week I said "Therefore bullish facing its first hurdle 40.00 area. Close above 41.50 will open the door to new impetus to the area from 48.00 to 50.00". And everything remanins the same for this week.
Weekly Oil:
Despite the retracement We Have in price last week During, the bullish channel remains. And until the price does not move out of the channel we should not expect setbacks in the bullish trend. Below 36,00, the uptrend will be finish.
Daily Oil:
The last session leave us a hammer a accumulation candle and the price remains in the channel so the first support for this week will be 38,00 and the second 36,00. Above 40,00 we can expect new highs and the main resistance is 42,00.
Complicated week to finish the first quarter, where we have the Dollar Index in full rotation and Vix outside the bearish channel and is likely to see new highs and therefore a declines in equities week. However crude remains bullish and currently there is no reason to terminate the current trend. On the other hand it is expected that with the arrival of the new month the outlook becomes clearer. And so it is almost certain that from week 14 see a higher correlation between the charts we look at this weekly report.
Summing while not lose the 38,00 I keep thinking of new highs this week.
As always, I invite you to follow my trades in real time from Monday through Friday on this page.
Good Bye and Good Trading.
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