A solid month for Oats! Sneaky Oat bulls have enjoyed a very rewarding month, but will it last? Oats tapped out at dual resistance yesterday at (1), where inside trendline (A) and 50% Fib levels cross (1) taken from the highs of March 2014 and the lows of August 2016
It typically pays to follow the Smart Money Hedgers once they reach an extreme. They don’t always get it right, but they do more times than not
NZD/JPY Broke out of its 2 month range today (A) and is now testing strong resistance cluster at (1).
PROs:
Downtrend resumes from 19th March 2020
Recently (today) broke below bear flag pattern (A)
Holding below its 200, 50 & 20 period simple moving average on short time frames (1,2,3 & 4hr)
A good week for Intel. Intel broke out of it’s weekly flag pattern and yesterday topped out at 6348 when it met with solid resistance (1). 6547 is the next level the bulls are eyeing if we can break through this resistance cluster.