A long term cup & handle set up appears to be nearing breakout stage within the Silver Juniors & Silver Miners ETF's.
A push above 29. for Silver should push this cup & handle pattern out of it's top side ready for a run up.
Bitcoin looks to be currently forming a rising wedge under the 200EMA which could signal another leg down in BTC price in the coming days.
Validation of a breakdown would be a breakout and retest of the rising wedge to the downside. Target £20,000.
Whilst this isn't a garuntee, I can see Tesla dropping to $400 in the near future. Weakness in the stock tied into Bitcoin could drop fast in the coming weeks.
If Tesla tanks as predicted it will pull the major indicies with it.
This would also bring the 100 MA on the weekly into play at $400.
RSI still showing a negative divergence. Resistance at £30,000 is also in line with the 200 EMA on the 4HR. This could be the level where longs get trapped, be careful.
IMO this is a dead cat bounce as we go much lower once £30,000 is rejected. Short at £30k.
Gold today broke out of it's 10 month trading channel. Providing it holds and successfully back tests over the next few days, a big move to test all time highs could be coming.
With Bitcoins anticipated fall and inflation increasing globally, Gold is in a prime position to take it's spot as the 'safe haven' of choice asset once again.
I am in no way certain on this one due to the ongoing virus concerns globally, however, RR seems to have printed an inverse H&S on a weekly timeframe, a usually bullish pattern.
With so much resting on covid variants & ongoing global cases, any long has to be considered as a risky play. However, the upside her is huge should the H&S break the neckline and push...
Kinross yesterday broke out of a long downward channel to the upside with good volume.
We will look to see a retest next week and should this hold and bounce we can expect Kinross to start a new upward trend.
We need to see Kinross push higher from here and not fall back within the channel for this new trend to begin - may be subject to the gold price so look...
Bushveld could have a great year with the demand for Vandium sure to grow with the use of EV, Solar and growing steel use.
Bouncing off a key support this morning, if this holds we should see a rally in the months ahead to 23.
Visa printing a rising wedge on the monthly chart. Divergence is interesting as the RSI is tracking lower with the stock moving higher.
Interesting and would welcome others thought?
My thought would be that with reopening a break above the wedge would signal a long entry, but the divergence x rising wedge worries me. Is this a sign for the wider market also?
Gold is currently sitting at the bottom of it's channel which also coincides with a strong support level around 1680. A strong bounce here could be the start of an uptrend in Gold so well worth watching.
Also on the watchlist should the reversal play out are shares in the mining sector. Main players I am watching are CEY, POLY, GOLD, KL, KGC.
In 2007 the FTSE hit a high before a steep decline, a level we are approaching around 6740. A level which is also heavily defended by the 100 MA.
It would take a good amount of positive sentiment to breach this level - will we get this during an uncertain pandemic ?
If sentiment in the US markets declines, then we could see a significant pull back across all...
A quick shout out for Pensana - previously Pensana Rare Earths.
I had not posted this idea as I haven't posted any ideas over the winter. However, Pesana is a great stock I advise everybody to keep on their watchlist. This stock has given me great gains over the past few months, with a 124% gain on my original investment and 60% gain on my second investment....
Further to my previous post, RDSB is my only holding within equities at present (have held for two weeks).
A break above 1465 will take us to £15 which is a major resistance point, however, I expect this to break upwards within a week or two - hopefully !
This is a long term hold into the summer for me with a target price in the region of £20. Obviously this...
It’s been a while, but I’m back. Work has been too busy to post but now I am back and will post my ideas once again.
I called a top three weeks ago at 4000 on the S&P500 . The pullback started earlier than anticipated, but we have now started the correction in equities. It would seem as though the fed are between a rock and a hard place, with inflation rising /...