BangkokCharts

BangkokCharts

At the moment gold is making a series of higher lows and lower lows and is currently in a down-trend. There is a lot of overhead resistance around $1860 in the from of trendlines and 50,100-200 moving averages. Until gold can manage 2-3 daily candle closes above $1860, the trend is still down.

BangkokCharts

A rising wedge usually breaks out to the downside, and Ethereum is running out of time. Support at the 50 day moving average will be the first target if the wedge breaks down.

BangkokCharts

If silver cannot break out of this bear flag to the upside, $25 seems likely leaving the people who bought in the #silversqueeze trapped, if trapped sellers rush to the exit and sell, price can waterfall down to $22-19 making it a great buy area to go long. For a valid breakout, we should re-test the gap and it should act as support, in this example it has...

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Bull flag? Leave a comment below 👇

BangkokCharts

The FTSE100 is clearly in a bear market It's running under the Ichimoku cloud, the 50 day MA is turning lower, RSI moment is bearish and major UK stocks are heading back to their March lows. There seems to be a small section of UK stocks that are doing well, but even those are looking a little overstretched now. Levels to look out for 5,700 and major support at...

BangkokCharts

There are two possible scenario that will play out next in Bitcoin: Scenario A – the low is in and it carries on with its bull run (30%) Scenario B – it continues to correct lower (70%) Since the March low the price has gone up 223% and the correction so far has been 23% First I’ll talk about the chart, and then I’ll talk about the macro factors in...

BangkokCharts Updated 

From its March low of $3,800 Bitcoin $12,450 (223% gain). From what I see from the chart it seems like the rally is slowing down. There is bearish divergence on the daily chart which I have shown in my chart and lack of volume backed up by the RSI. Gold is also in its corrective phase,the rally in the US stock market is running out of steam, and on top of...

BangkokCharts

If there was any doubt that the gold miners are not about to start a new bull market, that doubt has been squashed by Berkshire Hathaway buying some Barrack Gold. Before this news I was expecting the GDX to go as low as $32 in this corrective move, but the cats out the bag and I’m sure bigger players will start entering into this space in the coming weeks/months...

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Compared to major indices in the US, Europe and Asia, the FTSE100 is getting beaten up, and beaten up bad. Macro economic factors for the UK are very bearish, with huge job layoffs and big unemployment numbers when the UK furlough scheme ends, not a lot has changed since my last update. Major FTSE 100 companies like Taylor Wimpey, BP, Lloyds, BT etc are all...

BangkokCharts

Gold tried to push above $2,000 this week and got as high as $2,017 before getting smashed all the way down to $1925 the following day. On Friday it printed $1910 before getting a strong bounce back to $1937. Gold’s short-term outlook does not look so good, the chart is over-extended, buyers are running out of steam and the stock market looks wobbly if you look...

BangkokCharts Updated 

Above is a 13 year chart of the price of gold in GBP(£), each bar on the chart represents 1 month of price action for gold. The first part of this post talks about the price action of gold vs GBP over the 13 years, the second half states the bull/bear cases for gold going forward, it would be great if you add your own bull/bear cases so we can get a discussion...

BangkokCharts

Are you wondering what levels to buy on this gold price correction? In this chart I explain all the potential areas buyers will step in and where we may see the end of this leg down. There are 4 potential support areas, I have come up with each support area by using: Fibonacci retracement tool - I have tagged the march 16th low wick and the August 7th high...

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This is a chart of the FTSE100 on the daily time frame, each bar is 1 day of price action. In this post I talk about the price action of July, bull and bear cases for the FTSE and important levels to watch out for if you're looking to add to positions. The last time I posted about the FTSE I said it was important that we do not break the 6,000 level, and if we...

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Gold has had one hell of a year – right now I am seeing bearish divergence signalling a big correction which I’ll talk about below. My chart starts off in December 2019 when fears of a rescission hit the papers, the bond market was falling apart, add on top US/China and US/Iran tensions, gold went on a run. RSI reached 86 in January 2020, and while the price of...

BangkokCharts

I have drawn an easy to understand technical chart of the S&P500, highlighting the major support and resistance areas from December to July, using a daily chart (each bar is 1 day of trading on the S&P500). Notice on the left side of the chart all supports levels that broke, acted as resistance post FED bazooka and eventually turned back into support. When...

BangkokCharts

I have drawn an easy to understand technical chart of the NASDAQ100, highlighting the major support and resistance areas from February to July, and two points of bearish divergence using a daily chart (each bar is 1 day of trading on the NASDAQ). Bearish divergence is one of the most popular tools that traders utilise to time market reversals, this type of...

BangkokCharts

I have drew an easy to understand technical chart of the FTSE 100, highlighting the major support and resistance areas from March to July, using a daily chart (each bar is 1 day of trading on the FTSE100). We can see that the 5,000 area acted as major support level in March, on 4 days wicks broke the 5k level but closed above (that tell us this is a huge support...

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GDX like gold is looking to break out to the moon, but is that party going to be put on hold for now? Both Gold and the GDX are showing some bearish divergence (shown in chart), they are moving higher in price on lower momentum. In fact most indexes are showing this, not just the gold market. We are going to need a lot of rocket fuel to get to $47 for GDX and...