Candlestick Chart & Technical Analysis
•Short term Trend: Neutral – Bearish
•Medium term Trend: Bullish
•Yesterday’s candle: May is now front month. The last three sessions have been tight range affairs (relatively!) with gap support at 53.495 doing a job as support but 56.94 and 58.56 capping upside. Chance we could gap down today basis overnight moves?
•Fibonacci says: 56.94 is a reference in play right now, then 46.53 on further weakness.
•Moving Averages/Indicators/other: MACD gives a sell signal. Signs of bearish divergence on the RSI.
•Summary/Thoughts: Bearish for choice as we start a new week.
•Favoured trade(s) for today: Short side favoured for now.
•Bigger Picture thoughts and targets: 77.14 the next upside target, then 110.68 and 144.44.
Market Profile
•Profile setup/levels: 54.90 is yesterday’s VPOC. I’ve put this at S1.
•20-day CHVN: 55.00 – New data.
•Naked VPOCs below: 50.00, 39.00, 31.75, 29.30
•Naked VPOCs above: 64.50.
•SPVs in play below: 51.37, 40.145, 38.88.
•SPVs in play above: 60.57.
Support & Resistance Levels
Key
Purple = Marabuzo lines
Green = Fibonacci level
Blue = Market Profile level
Orange = Trendlines/Chart Pattern levels
Clive Lambert FSTA – FuturesTechs
25 years of institutional expertise in the UK and European Energy Markets and 10-time Technical Analysis award winner. Clive provides industry-standard technical outlook, utilising Market Profile and Candlesticks Analysis for over 90 global trading desks.
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