TQQQ: Fighting hard for support at bottom end of cloud!

TQQQ: Fighting hard for support at bottom end of weekly cloud chart support zone at $47.

The TQQQ rebounded from old support low of 44.47! It is now fighting for support at bottom end of the weekly cloud! We need to see a rebound at this level! If the TQQQ trades below the cloud that will be bearish.

The daily chart is already below the cloud, and the outlook is bearish. Support levels being tested are 44 to 47!

I am looking for a rebound at the 44/47 support zone into the year end!

DJI Dow Jones 30 Index: Downside risk to bottom cloud support zone on weekly cloud chart!

DJI Dow Jones 30 Index: Downside risk to bottom cloud support zone on weekly cloud chart!

DJI lost support at a critical level above the weekly cloud! Now there is downside risk towards the bottom end cloud chart support level of 23498! Will be interesting to see if the DJI can find support at old lows of 23997!

Price action is still below the daily cloud chart and this is overall negative! The DJI is now down 2174 points since the sell signal above the cloud!
Levels to watch on the daily are 24216, and 23700 for potential support!

Dow Jones 30 Index: DJI fighting hard for support at top end of weekly cloud!

Dow Jones 30 Index: DJI fighting hard for support at top end of weekly cloud!

Rebound potential from this top cloud chart level if support holds!

Price action is still negative on a daily chart because its below the cloud! The short-term opportunity is for a rally back up to the bottom end of the cloud if support comes in at the key cloud chart support levels! There is a significant cloud chart shadow support level at 24469! Rebound potential!

Turning to the 60 min chart, the bottom end of the cloud remains a key resistance zone on this downtrend. Can see a move down to 24909, and then a rebound from that level!

Critical week ahead for the Dow to rebound from top end of the weekly cloud!

TQQQ: Lost support at key cloud chart levels!

TQQQ: Lost support at key cloud chart levels!

On the daily chart the TQQQ did not manage to hold support at $54 after the first rebound back up to the bottom end cloud chart resistance of 61.85.

Support failed after the second test of the 54 zone, and then the 52 zone failed as well. Now the TQQQ is getting closer to the 47.71 old cloud chart support zone! Critical day ahead!

Outlook remain bearish since price action is below the cloud!

On the weekly cloud chart the TQQQ tested the top end cloud support zone of 52.42. but support failed at this level. Next target for support is at the bottom end of the cloud level of 47.42!

We need to see a rebound at these levels, for it the TQQQ starts to trade below the bottom end of the cloud, this will be overall bearish for the weekly chart! Critical few days ahead!

Brent Crude: Testing support at top end of the cloud:$76!

Brent Crude: Testing support at top end of the cloud:$76!

Fighting hard for support at the top end of the cloud. Downside risk towards $75 bottom end of the cloud, and fail that, $72 if support does not hold.

Trend is down for now since the cloud chart sell signal at the top end of the cloud!

Short-term rebound potential at key support levels from a technical retracement perspective.

Light Crude Oil: Lost support at cloud level, next level to test $63.81!

Light Crude Oil: Lost support at cloud level, next level to test $63.81!

Consolidation underway after sell signal above the cloud at 7$2. WTI did not find support at the bottom cloud level of 68.60, but sliced right past it, towards next cloud level of 67.06. Now close to testing support at old cloud chart support levels of 65.95.

Downside risk towards old cloud chart support level at bottom end of the cloud at 63.81! Rebound potential at this level!

Lots of cloud cross sell signals triggered on the 60 min chart. Short term swing trades towards bottom end cloud resistance zone!

G10FX Cloud Chart Trading FX Market Review: 23rd October 2018