Quick observations on the charts that caught our attention this week.
This week’s flash covers Brent, EUROSTOXX50, DAX, Nikkei 225 and Bitcoin.
Brent (+2.16%) recovers from MA20W but is rejected by MA5W and MA10W: dominant upper shadow, system flat. EUROSTOXX50 (+0.19%) and DAX (-1.38%) close with lower highs and lower lows: the DAX closes at weekly lows with lower relative strength, both systems maintain Short. Nikkei 225 (+0.39%) sets new all-time records on both high and close with MA200W overextension at a record 71.25%: system re-enters Short. Bitcoin returns to the radar with a 25% weekly range and volatility at 44.72%: January low breached intraweek and recovered, system flat.
Let’s take a closer look to try to understand what lies ahead for the coming week.
