Thursday, April 26, 2018

Stuck in a large triangle the last 3 months

From the projected 4/18H, we declined a profitable 104.72 SPs into 4/25 Low so far.

We remain in a large red contracting triangle the last 3 months, with 2738 SPX resistance and 2566 SPX support, whichever way it breaks, will determine the next 350 SP direction.

Per request, here is the crude monthly chart. 

I look at crude in the weekend Updates, the chart is in a clear up channel, with resistance at 71.56. There is a possible Junction point f Trendlines CIT for the April Month.

Monthly crude bottomed at the 37 month cycle back in June 2017 Low, before that there was a large monthly Apex CIT at the Feb 2016 Lows/

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