US Equities, Crude Oil, BTC/USD, ETH/USD, Technical Outlook, Edition #158 (08/12/2021)
Bitcoin, Ether gearing for another crack at all-time highs? Q has the midweek technical analysis covered with a selection of hand-picked charts from US equities, Crude Oil and Crypto markets 👇
Scurrying price action - will Bears take a swipe at upside hopes?
Q observes the makings of what appears to be a recovery in markets.
But, the question remains...
Will they fall short by the paw of a dead cat bounce - or embark on a reversal higher?
West Texas Intermediate (WTI) Crude Oil, US OIL - Daily (D1)
Crude oil prices appear to surge into resistance at USD 73 per barrel. Further, bulls may feel chuffed after turning some heads by re-claiming the 200-day moving average indicator (D1 200 MA, BLUE).
However, a daily close above resistance will likely see a trend flip of the 20-day exponential moving average (D1 20 EMA, GREEN) - converting this zone from resistance into support is critical in maintaining a bullish reversal.
With crude oil’s situation in mind, Q turns focus to price action developments in major US stock indices and cryptocurrencies below.
The rest of this article is reserved for our wonderful community of Premium Subscribers!
Try us with a 7-day free trial to access the premium analysis below 🤫