The SPX was creeping higher since the end of December, but we kept reminding our members that the trend remained lower as long as we kept respecting the descending channel.
Author Archive for: Vulgi
About Steve Voulgaridis
Steve’s academic studies include a bachelor degree in Business Administration and one in Finance. Steve has been actively engaged with the world of Finance and the financial markets since 2005. He started his career as an individual trader managing personal and family funds and within a few years progressed to become a consultant and trader for a private fund.
Due to his educational background, Steve uses Macroeconomic theory and the study of fundamentals, to build a top – down, long term view of the markets. Additionally, the tools of trade he uses to analyze their daily movements are comprised of Classical Chart Patterns, Candlestick Patterns, Fibonacci and Elliot Wave Theory.
Steve is an avid lover of sciences (with economics being the prominent one in his heart) and has always dedicated part of his free time studying them. He likes to spend the rest of his free time doing sports (tennis, basketball, football, sailing), socializing with friends and travelling.
Steve is happily married since 2014 with 1 baby boy and 2 feline companions (cats) completing his household family.
Entries by Steve Voulgaridis
Crude Oil has reached a major pivot point of its move lower that started last year March and we are about to find out if the trend higher will be restored or we will remain in corrective mode.
Chart Of The Day series – 9 January 2023
The USDCNH reversed lower last October and rode the USD weakness. Early December we broke through a H&S formation pattern and after a S/T consolidation we seem to be resuming the downside.
The DXY had a strong day to start the year and it is threatening with a break higher after a 3 month move lower.
Following the FED, gold initially stalled and then turned lower from the ascending wedge’s T/L resistance and is about to break down from here.
The 10Y Us Yields have been pulling back since toping back in October at 4.33% but are they about to rebound from current levels?
Crude oil closed last week at a key confluence of supports ~$77, while completing a double top target.
Gold is testing the key confluence of resistances at $1680.