Energy Sector Retracement After Breakout
The Energy sector (XLE US) broke out of an ascending triangle in March! This was good news for confirming the bullish trend. As with many breakouts, they are usually followed by a retracement. The market has just reached the 50% Fibonacci retracement. This is a very interesting level to keep an eye on. Source: Bloomberg
Nvidia Looking for Support
Nvidia (NVDA US) has started its consolidation. The first minor support is at 117. An interesting level to keep an eye on is the 107-112 zone, which also represents a 50% Fibonacci retracement. If all those levels break, there is the gap zone at 96-101.60 that could be filled and, of course, the major support zone at 75.60-84.35, but that seems so far away! Source: Bloomberg
Bitcoin at demand zone
Bitcoin (XBTUSD) showed positive signs in May with a break above the last swing high, suggesting that the consolidation could be over. Yesterday's sell-off (-8%) reached a strong demand zone. Keep an eye on this level. Source: Bloomberg
Roche Very Positive Weekly Close
Roche (ROG SW) closed last week for the first time over its last swing high! This is the first confirmation that the bearish trend has changed. As a reminder, the stock has consolidated 47% since the April 2022 highs. Source: Bloomberg
Dax Index Reached First Support
The Dax Index has just reached support zone 17,876-17,982. This level is also a 61.8% Fibonacci retracement of the last swing. The level that mustn't break remains the swing low at 17,626. Source: Bloomberg
TotalEnergies Reaching Support Zone
TotalEnergies (TTE FP) is reaching its first support zone between 60.90-62.30. It is also at the 61.8% Fibonacci retracement level. Keep an eye on it. Source : Bloomberg
Vinci Testing Back Triangle Breakout Level
Vinci (DG FP) recently posted a new high, confirming once again the bullish trend. It's now retesting the lows of the latest swing. The 98.49 level remains the swing low that mustn't break. Keep an eye on the institutional demand zone between 98.49-103.28. Source: Bloomberg
Bitcoin Logarithmic Monthly Chart
With a logarithmic chart, it is sometimes easier to identify a trend. The trend has been bullish since the start of Bitcoin. It’s now testing again a major resistance level. Will it be able to breakout ? Source : Bloomberg
