Comments on: Technical Analysis & Trade Ideas 10-30-23 https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/ Stock Trading, Investing & Market Analysis Mon, 30 Oct 2023 23:04:31 +0000 hourly 1 https://wordpress.org/?v=7.0.2 By: Pbathula https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29631 Mon, 30 Oct 2023 23:04:31 +0000 https://rightsideofthechart.com/?p=212703#comment-29631 In reply to EMFO.

Tuesday!

]]> By: EMFO https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29630 Mon, 30 Oct 2023 21:51:41 +0000 https://rightsideofthechart.com/?p=212703#comment-29630 Strange that the semis did not participate in this rally.

]]> By: rsotc https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29629 Mon, 30 Oct 2023 20:53:49 +0000 https://rightsideofthechart.com/?p=212703#comment-29629 In reply to Alan.

Unsure right now. I have USO just below the uptrend line on the 60-min chart following the recent divergent high & subsequent drop but right on the uptrend line (i.e.- support) as I have it drawn on the daily so either it bounces (off support) here or breaks it & heads lower. FWIW- My opinion on which way it goes isn’t very strong right now plus I’m not digging the geopolitical risk with things heating up in the Middle East. 60m & daily charts below.

]]> By: rsotc https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29628 Mon, 30 Oct 2023 20:48:26 +0000 https://rightsideofthechart.com/?p=212703#comment-29628 In reply to Heinz.

While I haven’t commented on Bitcoin & Ethereum lately, I do look at the charts at least weekly. I just don’t (and haven’t for a while) have a good read on the chart, hence the reason I haven’t been posting them as trade ideas as often as I have in the past. I can say that they are both starting to look like potential swing shorting opps soon but I just can’t make a strong enough case for a position just yet.

]]> By: Alan https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29626 Mon, 30 Oct 2023 19:53:48 +0000 https://rightsideofthechart.com/?p=212703#comment-29626 Randy, where is Oil and USO going?

]]> By: Heinz https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29624 Mon, 30 Oct 2023 19:36:57 +0000 https://rightsideofthechart.com/?p=212703#comment-29624 Randy, when you have a chance, can you give your thoughts on BTC and ETH? Strange that Crypto has not followed the tech decline. Maybe the impending creation of their ETFs are putting upward pressure on them. I also have read that the Street is now viewing BTC as an inflation hedge, which I don’t buy. Crypto must be getting close for a shorting opportunity. Thanks!

]]> By: rsotc https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29623 Mon, 30 Oct 2023 19:14:58 +0000 https://rightsideofthechart.com/?p=212703#comment-29623 In reply to rsotc.

Oh, I think you mean that marginal new highs scenario, which would be intermediate-term bullish. Hard to say because it would be a compilation of numerous technical & fundamental developments that would need to occur in the coming weeks so more a gradual, odds increasing on that scenario vs. an all or none flip to making that my preferred scenario.

As of now, the odds are very low IMO.

]]> By: rsotc https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29622 Mon, 30 Oct 2023 19:12:33 +0000 https://rightsideofthechart.com/?p=212703#comment-29622 In reply to Mikeflegel.

Pls clarify what time frame you are referring to? Long-term (months to years), short-term (days to weeks) or intermediate-term (weeks to months)

]]> By: Mikeflegel https://rightsideofthechart.com/technical-analysis-trade-ideas-10-30-23/#comment-29621 Mon, 30 Oct 2023 18:14:27 +0000 https://rightsideofthechart.com/?p=212703#comment-29621 What would it take for you to change your alternate scenario to your primary scenario. I e going higher.

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