The S&P 500 (SPX) is now starting to bounce.
The sellers are exhausted according to the indicators and we are seeing a strong jump taking place today.
We have more details on the chart above.
We believe that prices can bounce before producing one final strong drop, but it all depends on how these support and resistance levels are handled, we remain open to all...
Just a quick follow up on my last update for the SPX... I see more red.
After prices dropped the first time I was expecting a bounce and it took place... Now we are seeing a higher low... It won't do much.
I believe there will be another failed attempt at resistance before prices start to move lower.
The Coronavirus situation will get worse before it is fully...
My last analysis for XAUUSD (Gold) came in back on Dec 24, 2019... We mentioned a bullish Gold hitting $1600 in January 2020...
This is exactly what happened, you can see it below:
Now the charts are looking really bullish for Gold, this time around, if...
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DXY Weekly forecast for 27th - 31st Jan 2020
- Last week both targets were taken out.
- Starting this week above broken resistance
- Best place for new bull entries will preferably at previous broken support now turning resistance around the 97.75. ( any pullback towards here will be great for new low risk high rewards entries.
- Going into this week looking...
so very interesting level so after some bearish momentum and looking over a the DXY this still can move lower and would line up across the index for the dollar to gain strength for next week to around 98.55 if this is correct then this would sell off and line up with a strong double bottom to then buy this pair lets see how we open tonight and stay neutral still...
dollar index is close to a major trendline .
this trendline matches perfectly with horizontal support.
I believe that we can expect a bullish reaction from the underlined area.
Target levels are:
DAX is on its way to retest all time's market high.
I think that this time we may see a fake structure violation before the retracement from the underlined resistance.
Pay close attention to the market when it enters the underlined area and look for a "W" formation to open short.
*I am not suggesting to catch a big...
bulls keep pushing natgas to higher levels of structure.
I want to short the market from 2.86 level.
Stop will lie above the underlined zone of supply: 3.06
Targets are based on structure:
This week the index broke and closed below the rising correctional movement
and we see a new lower low lower close.
Now bears will keep pushing the market lower.
The first zone from where we can expect a pullback is 96.4 - 96.8.
Pay close attention to this zone and watch the market reaction.
this is my weekly update for gold .
currently, I don't have any active position.
However, based on the question that I received this morning
I see that many traders missed yesterday's selling rally and still want to jump in.
Analyzing structure on the left, we can easily notice that gold has reached a key support...
weekly update for dollar index .
the market has started a correction cycle and for the last two weeks, we see a steady bullish movement.
I still believe that bulls have much space to push the index even higher before we see a bearish continuation.
The first supply zone that I will pay my attention to is...
after a very strong bearish wave, we see a correctional movement on DXY .
I believe that bears still have much space for one more leg down to major structure support .
I don't know how long the correctional movement will last but
our trigger is a bearish violation of a support of a rising channel .
although I have an active selling position on gold ,
many traders hesitate to enter right now and don't know what to do.
Indeed for quite a long time gold is very very passive.
Those who are looking for a confirmation signal,
pay attention to a symmetrical triangle that the market is now following.