Comments on: Market Analysis & Trade Ideas 5-6-21

By: rsotc

rsotc — Fri, 07 May 2021 16:26:55 +0000

In reply to becky. Hard to narrow down a precise level for the next likely bounce in /DX but here's my 60m chart with a support zone (3 nearby support level) although I'm kinda leaning towards a reversal off that 89.66ish level. However, I remain longer-term bearish on the US Dollar.

By: becky

becky — Fri, 07 May 2021 14:15:17 +0000

@rsotc targets on DX? Seems to be heading straight down

By: becky

becky — Fri, 07 May 2021 13:39:58 +0000

In reply to HermonMunster. They have been saying this since forever as every meeting someone asks about exorbitant valuations in some assets.

By: HermonMunster

HermonMunster — Fri, 07 May 2021 02:45:24 +0000

Even the Fed is talking about a bubble….

https://www.cnbc.com/2021/05/06/fed-warns-of-possible-significant-declines-in-stocks-as-valuations-climb.html

By: rsotc

rsotc — Thu, 06 May 2021 18:09:23 +0000

In reply to Alan. Hard to say where the bottom is but PLUG isn't looking good after it failed at the 30 resistance level & then went on to break below the 25.28ish support. Best to set a tight stop-loss, maybe below today's lows if still in it.

By: Alan

Alan — Thu, 06 May 2021 17:10:39 +0000

In reply to rsotc. @rotc Randy, you haven't updated your take on PLUG. Where do you think the bottom is?

By: rsotc

rsotc — Thu, 06 May 2021 15:26:51 +0000

I had intended to cover crude oil in the video but might have skipped over it. So far, /CL is following through on yesterday’s sell signal (TL break) & still appears likely headed down to at least the 62.75ish support/target. 60-minute chart below.