Silver already broke out of its daily downtrend line. For more than a month, it has been building a daily bottom but still couldn't really breakout of the 16.5 resistance zone. On its way, it must pass the 16.2 minor resistance zone. 17.5 and 19 are my extended target levels for the potential bullish move.
Trend is going very vertical and as every vertical move (Up or down) it reverses.
Although there is naked structure of resistance and no confluence, I would like to see some bearish divergence on the RSI to confirm this pattern reversal. Nasdaq have been bullish quite sometime and it is indeed due for pullback to catch a breathe.. This pattern could very well confirm that. Looking to take a target no more than previous resistance now turn...
if market can't gain a foothold above MPR2 = 107.74, modified TDI will turn at the OB zone and we'll have a potential retrace at least as far as the K-area support (white rectangle) around 105.05-105.28 where bottom of K-area also is the MPR1. of course, right now market still seems bullish. i will be watching for possible spikes into MPR2 and if price fails to...
Target 1- at $6740 38% fib level Target 2- at $6645 61.8% fib level Trade at your own risk
US30 longterm outlook on the weekly chart. Bearish butterfly. Strong support around 14023 on the X leg. Target 1 will be at 14436 at the 23% fib level. if the bears can break structure on X, then roll stops and look forward to target 2 at 12841 on the 38% fib level. Trade at your own risk.
Bearish Crab (Purple) and a Bearish Buttlerfly (Aqua) has formed on SPX 500 CFD. For conservative traders, taking the butterfly pattern for 2 targets at the 38% and 68% level and no further than $1885..Strong support on the daily at X I will be taking the Crab pattern. The crab pattern is not only visible on the 4hr chart but on the daily as well. Trade at your...
Short Term Market Direction prediction : Recently spotted symmetrical triangle within an ascending direction of Gold's recent moves ( 2 Higher lows and 2 higher highs ) It seems the 3rd one hasn't been made just yet ... According to this possible head & shoulders pattern formation inside of the Symmetrical triangle I've just spotted today, and the strong positive...
The corn price follow a long trend since the begin of the year. Even we don't have any reference, It can go up again to 540. I can't target upper level without any historical higher