Gold (XAUUSD) is trading within a short-term Channel Up pattern since the May 03 Low, essentially throughout the whole month, and currently the price is consolidating below the 1H MA50 (blue trend-line). Such consolidation within the 1H MA50 and the 1H MA100 (green trend-line) took place on every single Higher Low formation at the bottom of the Channel Up. At the...
WTI Oil (USOIL) eventually did give us the bearish break-out trade as per our last outlook (April 29, see chart below) following the first 4H Death Cross in 7 months and easily hit our 78.00 Target: As you can see, the expected Channel Down was formed and the price has been consolidating on the Higher Lows trend-line and the 1D MA100 (green trend-line) for 8...
Gold (XAUUSD) is being rejected since Friday right at the top of the emerging Channel Down and that is a Lower High. Even though Gold has officially started a new long-term Bull Cycle, it doesn't mean that the market won't deliver medium-term corrections that are technically much needed in order to get the trend going. Quite the contrary, the current Bullish...
WTI Oil (USOIL) gave us an excellent sell signal last week (April 29, see chart below) following the first 4H Death Cross since October 10 2023, which easily hit our Target: We now need to look at the longer-term time-frames for clues on the direction as short-term it turned bearish. Looking at the 1D time-frame though, we can clearly see that WTI is on a...
Gold (XAUUSD) completed on Friday the 2nd straight red 1W (weekly) candle for the first time since mid February. That was when the enormous 9 week rally started that only had to show 1 red week. Even though the long-term pattern is a Bullish Megaphone, the bad news for Gold is that this correction may be far from over and the US10Y (orange trend-line) makes a good...
We expand on our April 15 idea (see chart below) on Gold (XAUUSD), where we discussed the 'necessity' for a medium-term technical pull-back based on its 5-year Cycles: As you can see that correction happened and the new Bearish Leg of the long-term Bullish Megaphone is well underway. The price got rejected both yesterday and on Friday on the 4H MA50 (blue...
WTI Oil (USOIL) made a solid (Higher) Low at the bottom of the Channel Up pattern and started rising as we discussed on our previous idea (April 22, see chart below): We now need to take it a time-frame lower to 4H as on Friday the market formed the first 4H Death Cross (4H MA50 crossing below the 4H MA200) in almost 7 months (since October 10 2023). This has...
Gold time frame 4 hours According to our analysis, we expect the price to reach our range and wait for the price reaction from there. In the 4-hour time frame, the trend has changed, so short trades have a higher percentage of profit than long trades. It is better to enter short trades to reach a strong demand range.
Gasoline (RB1!) is on a 3-day bullish 1D candle run after testing and holding the 1D MA50 (blue trend-line) this week for the first time since February 05. On the wider scale, this is the Bullish Leg of the 18-month Channel Down and it is approaching its top (Lower Highs trend-line). As you can see, the Bullish Legs of this pattern share a certain degree of...
Palladium (XPDUSD) is in the process of forming an Inverse Head and Shoulders (IH&S) pattern as it approaches its 1W MA50 (blue trend-line), which has been unbroken as a Resistance since the week of October 10 2022. Once the 1W MA50 breaks, we will have a confirmed buy signal, whose first emergence was when the 1W RSI formed Higher Lows against the price's Lower...
XAG/USD is rising towards a resistance level which has been identified as a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 27.861 Why we like it: There is a pullback resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 28.872 Why we like it: There is a...
Platinum (XPTUSD) gave us an excellent bottom buy signal last time (March 13, see chart below), as the metal entered a Channel Up pattern following the bottom just below 880.00: Currently we are on the 2nd Bearish Leg of the Bullish Megaphone pattern that emerged and will complete a Golden Cross on the 1D time-frame today. As per the December 02 2023 Golden...
Price is rising towards a resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 27.861 Why we like it: There is a pullback resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 28.872 Why we like it: There is a pullback resistance...
Last week (April 15, see chart below), we discussed the 'necessity' of Gold (XAUUSD) for a medium-term technical pull-back based on its 5-year Cycles: As you can see, we did get indeed the expected rejection at the top on Friday and this week we have started with almost a -5% already. The 1D RSI Double Topped on overbought territory and now is on a Lower Low....
WTI Oil (USOIL) hit the 1D MA50 (blue trend-line) today for the first time since February 07 and touched the bottom of the long-term Channel Up, forming a Higher Low. This is only 2 weeks after the formation of a 1D Golden Cross, the first since August 22 2023. That Golden Cross was also formed during a correction, which eventually kept the 1D MA200 (orange...
Copper (HG1!) has emphatically broken above the last Resistance of the 2-year Bear Cycle as it smashed through the top of the long-term Triangle pattern. The same pattern kept Copper on a Bear Cycle up until June 2020 when it started the remarkable rally to the 5.000 High (1.786 Fibonacci extension). As you can see on both fractals, the formation of a Death Cross...
Natural Gas (NG1!) has been posting Higher Lows, three so far since the February 20 Low, despite the fact that it remains within a Channel Down since the October 27 2023 High. This might be a short-term trend change similar to the Channel Up that started on the April 14 2023 Low following a sharp and long-term selling sequence. Notice also the Higher Lows Bullish...
Silver (XAGUSD) easily broke through the 25.000 Target we set 2 months ago (February 15, see chart below) and invalidated the Triangle pattern as it is entering into a new long-term Bull Cycle: This was achieved as it broke above the 2-year Resistance Zone 1 and the Triangle transitioned into a Channel Up. Last week it hit Resistance Zone 2 and technically we...