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The Dow Jones Industrial Average’ (DJI) is preparing for a huge drop, according to the chart above, let's take a quick look.
On the chart:
- We can see that a new high was created on the 3rd October, which was quickly followed by a strong drop. Even though the Dow Jones created a new high, the MACD and RSI are going down, this is bearish divergence and a very ...
You can be sure that Gold (XAUUSD’) found support back in August and is ready to make a strong move up. Let's take a look at the chart and see why I believe this to be true. Please allow me to entertain you for a few minutes...
So, let's get started.
Gold (XAUUSD’) Analysis by Alan Masters
We start by looking at the main chart above, which is set to the ...
Since April Gold -0.50% has sharply declined and is now horrendously over sold. In fact, the weekly RSI is the lowest in almost 12 months, right before the market rose back towards the highs.
Short sellers have battered this market, and there hasn't even been any meaningful profit taking (intermediate retracement), which means the vast majority of the short ...
2 reason for buying MTL
1- it bleow of the triangle
2- its in the dip of the channel
watch for a reversal in this range.
Palladium has come into a strong support level and looking to be bouncing from the support, looking for entries on lower timeframes. Target short term into resistance of 960.00 where you could look for a reversal back into the higher timeframe trend.
I think we could see a large movement down for Copper in the next few months.
Descending triangle is more of a continuation pattern.
It looks like Platinum is about to break to the downside.
Not confirmed yet.
Wait and see in the next few weeks.
Nickel could be at the start of a trend reversal.
Double bottom pattern started in June 2015 and is now complete
Next step is to break 200 EMA resistance, which is already being tested.
Next stop is its 200 EMA after a break out from 3.22
#Copper #HG on the up this morning on stronger momentum . A turning point (2.9135 Fib 61.8 zone) after recent sell off? Support 2.9135 Fib, then 2.8305? Cur trading 2.9804
Has dropped below its overall upwards trend. Low RSI. Outside Bollinger. Good MACD separation.
Potential area of reversal for Glencore. With expectations of low inflation, high leverage so exposed to interest rates and an reversal pattern in the making, this may be worth the shot short.
High Grade Copper has broken above critical resistance at the USD2.7400 year high of November 2016.
Further gains are highlighted in the coming weeks, as momentum studies tick higher and sentiment improves, with a break above the USD2.7670 high of June 2015 targeting historic congestion around USD2.8000.
Still higher are the USD2.8345 high of 26 May 2015 and the ...
Gold is back above support after the dollar started to weaken post-Trump's Inauguration. Dollar index is now back below 100.00 with not much support until around 97.00. We would prefer a pullback to 1206 before going long or a break of 1220.
Gold has broken down out of this channel and retested key resistance. Simple trade for 1:3 risk/reward. Dollar movement could make this interesting today due to President-elect Trump's inauguration
Gold has pulled back to the .382 fib and key daily resistance (USD 1206.95/oz) where price is currently stalling. I will watch for bearish price action around this level and enter a position on a break down of the 2hr ascending channel.
The bounce from the January trendline has accelerated sharply higher, with fresh demand at USD2.2000 pushing prices above critical resistance at the USD2.3235 high of March.
Fibonacci resistance at the USD2.6805, (50%) retracement of the 2014-2016 fall has been reached, with potential for still further strength in the coming months towards congestion around ...