Double Bottom


The distinctive and frustrating feature that stands out is that from the February high price has been trapped in a trading range. Bulls have tried but failed to sustain a breakout above the February high at 2120 twice ( April peak and May peak), but it is also true that Bears have not been able […]


Weekly time frame: The Dax has declined from the April high almost 13% reaching the 0.382 retracement of the rally from the October 2014 low If the weekly Hammer candlestick is confirmed tomorrow, then odds should favour a countertrend rebound The immediate hurdle is located at the 27 wma and horizontal resistance at 11165 Above […]

TZA: (Small Cap Bear 3x) Weekly time frame: A clear down trend from the October 2014 high is still in play (As long as the trend line is not breached) But the RSI(5) is displaying a positive divergence The last three candlesticks may suggest a basing  activity There is also a potential Double Bottom  

1. GDX (Long watch list) Weekly time frame: It seems probable that the 3-wave up leg off the October low should allow more upside price action So far the current pullback could be forming a Flag As long as the support zone with range 20.40 – 19.90 is not breached the bullish pattern will not […]