Burford has broken out from its post-Woodford drop. Clean air up to the resistance and fib area, around 1050-1100p. I'd expect a few early opportunists to sell out here though, and have it retest the breakout area.
Pound strengthening, breaking the 0.382% retrace. An hour left in the monthly candle but it's finishing strong which usually indicates a continuation into the next month. Target 0.500%.
(...just in time for booking a driving and safari holiday!)
Gold broke out of its pennant pattern a couple of days ago. Either we have a breakdown or a shake out (caught me out at break even) occurring right now just below the 50ma. A similar shake out occurred during the last pennant just before it exploded north.
I have bullish leanings for gold, given all the stimulus and extra stimulus coming out of the US. I'll be...
Both patterns are bullish, whichever you choose to interpret it as. Additionally, there is decreasing volume as it reaches its 200ma on the daily. Lloyds has been very well behaved when it comes to chart patterns over the past year.
MACD crossing down is a reason for concern though.
TW marking out a bull flag with decreasing volume, looking to land on its 200ma on the daily chart. It is usually a reliable pattern in this company though there is so much going on in the wider market I will be waiting for a breakout on volume with a backtest on the hourly.
Hopefully the title isn't a shock to you, given Brexit uncertainty for the past couple of year. Rising wedge is usually a bearish indicator but you might notice that higher volume days are accumulative - big boys taking bullish position? I'm staying away but have alerts set to look at possible shorts in the longer term.
Fresnillo is still coiling on the weekly, likely to last into 2020 before any sign of a true breakout. Significant weakening of the USD - likely given their 'not-QE' $120B stimulus package - will lead to a rush to relatively cheap gold.