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
Psychology of candlestick in one image courtesy of Market Insights
Source: Market Insights
McDonald’s Back on Long-Term Swing Low
McDonald’s (MCD US) has consolidated 17% since the January highs. It's now testing a strong support zone between 245-250. Keep an eye on this level. Source: Bloomberg
LVMH Approaching an Interesting Zone
LVMH (MC FP) has consolidated 17% since the March highs. It's now filling in the January earnings gap zone between 690-730. It has also reached the 61.8% Fibonacci retracement level and is in the discount zone for prop traders. The major long-term support swing low is at 644. Keep an eye on this stock over the next few days. Source : Bloomberg
Intuit Reaching Strong Support
Intuit (INTU US) has been under significant pressure since the earnings release last Thursday, dropping by 12%. The stock is now approaching the last swing low support on the long-term trend (weekly chart). Keep an eye on this crucial support zone between 585-595. Source: Bloomberg
