With the ECB having failed to live up to expectations this past week, stock investors are still looking for a bullish catalyst to re-energise equity markets. Expect a lot of tentative moves as the market awaits the Fed Rate announcement on 16th December. Anything can happen now, especially in the EUR and Oil, so make sure you don’t miss out with Call Levels.


Will EURUSD drop back to 1.061 after rising in value last week? Track EURUSD with us:

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Interest of Call Levels set for WTI Oil was seen in the ranges between 41.258 to 41.458. Track when prices for WTI Oil reaches this range.

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Track XBTUSD with us:

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Trading updates


The US stock market fell in the overnight session with oil the main driver for the fall. The key level for the Index continues to be the 2019 level and as we mentioned in the previous post, we are looking for one more leg down in the Index to around the 2030 level before the Index bottoms out and rallies into year end. In our opinion, the next move up should break the all time high, invalidate the red path and find itself at the 2200-2300 level in the not too distant future.

Watch SP500 at 2200


SP500 @ 2200

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Green: The Index consolidates around the 2030-50 level before rising again to take out the all time high.

Watch SP500 at 1940


SP500 @ 1940

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Red: The Index falls from here to test the 1700s with a potential to extend to the 1570s. This would still not invalidate a longer term bullish scenario, with the bounce that follows likely a determinant of the longer term trend direction. The key warning sign of this scenario playing out is the market breaking through 1940.


Stock pick of this week!

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For this week’s Stock Pick, we are looking at a potential Long Trade on PX-NYSE. Praxair Inc is one of the worlds largest Gases Company’s and had a mixed Earnings report at the end of October which made the Stocks price quite volatile with large volume.


The price seems to have found Support just above the £108 price and the Fibonacci 0.5 Retracement level taken between the Wave 2 and Wave 3 extremes of this longer term Bullish Move. A good positive day on Monday will see the Stochastic crossing in the Over Sold zone and an early indication that this Stocks price action could return to it Bullish Trend and make a new Wave 5 High.

Watch $PX at $112.53


$PX @ $112.53

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A conservative entry is needed due to the volatility and large price swings, post Earnings. An entry out of the Wave 4 pull back Bearish Trend would see an entry above the $112.53 price with a Stop Loss at $107.80, which is below the Wave 4 extreme low. With an Initial Target Price for the Wave 5 at $122.00, a Risk to Reward Profile of 1:2 is achievable.

Watch $PX Stop Loss at $107.80


$PX @ $107.80

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Monday and Tuesday are crucial for the future of this potential Long Position on PX-NYSE. The support level at $108.00 must hold and a Bullish move with volume towards our entry price is needed.
Watch $PX Initial Target Price at $26.50


$PX @ $122.00

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