Gold is retesting the trend line that was broken down when gold dropped to 1330 support level. Currently this support at 1330 holds and gold is re-bouncing to 1340-ish. If gold manages to close above the trend line, it will be a bullish signal. If not, gold will likely drop further to the next support level at 1310. You can see the resistance area (red) is around...
Gold has formed a head and shoulders pattern on the daily chart. Now gold is testing the neckline support after forming a right shoulder at 1366. The neckline support should be around 1332-1337. If it breaks down from the neckline, head & shoulders pattern may kick in and gold will drop as low as 1240. Other supports are 1300-1305, 1280-1285, 1260-1265.
Trade...
I see here a leading diagonal and one last rising wave is underway. I will jump in once prices close above upper trendline of flag. SL is last dip in flag.
Oil move slowly as wave 4 and there is last decline. Divergence in MACD support this opinion. Once oil makes new low and MACD divergence still appear, the confirmed buy signal will trigger.
USOIL is about to break out of its daily bullish trend line. A divergence is spotted on MACD indicator. A short position is recommended once price breaks down out of the support trend line.Take profit @41.
Silver has been in a consolidation since reaching $21.11/oz. A range of trading can been spotted on the chart in the box from 19.20 to 20.60. Selling zone is around 20.50-20.60.
Trade plan:
Sell limit @20.60.
Take profit @19.50.
Stay Tuned.
After breakout 1345, I think it is the correction of C wave.,
The first TP is 1335 (as i locked profit already) and the second is 161.8% is 1311.
It is still downside, no reversal happen.
I'm still on the bear side of the COPPER 2.120 can be a stop loss to enter a trade when prices crosses below 2.012
Lots of bears waiting on 2.00 to be broken.
XAUUSD becoming a safe haven for investors as BREXIT nears, easy trades. Break out of downtrend and now this resistance level is a confirmation of bullish trend. Pre planned trade, 3:1.
Le'ts take a look at the Soybean Futures market by examining its 2hr chart. What do we see:
- Price has consolidated in a descending triangle.
- Support @1130 running flat
- Resistance is the downtrend line.
- A break out of either way will tell us about its next going direction.
A descending triangle is usually a continuation pattern so here the upside is...
We are currently inside of the monthly suplpy zone. Because of that, buying opportunities may be risky aroudf here. One can take a confirmed buying opportunity inside of a daily demand zone (48.49-47.25) but only for a short-term purpose.
I want to be willing seller if daily chart gives us a selling opportunities. Otherwise, i will be thinking again buying...
Silver is trying to reach weekly and monthly demand zone below. By doing so, it has been creating several daily supply zones too. Each of them are good for selling opportunies.
We may again see sellers to emerge at around 16.541-16.210 daily supply zone.
In coming days, we may see some high probability buying opportunities for medium-term positions once we reach...
TOP-DOWN ANALYSIS
MONTHLY: we are currently inside of a monthly demand and expecting a bounce from this zone
DAILY: the price is far away of a daily supply now, and it may want to test it
H4: it has just created a new H4 demand zone. Test of the zone should be a good buying opportunity
TP1: just before the H4 candle wick
TP2: trail the stop till...
