JesusShuttlesworth

JesusShuttlesworth

Yesterday, GOLD was capable of getting over the strong resistance but quickly came back down. Today we dropped back to the 1180 area but as you can see there's a good support there too. Now today showed how the blue rectangle is acting as a strong Resistance. Price action tells us, looking at the yellow circles , that the bulls tried to get over it but the...

JesusShuttlesworth

Will this big resistance push NG1 down or will it break? If it breaks we probably close the gap and go up even further. So for the people who are shorting, don't forget the stop loss around the resistance area.

JesusShuttlesworth

Hopefully we have a good week for Gold, I'm long.

JesusShuttlesworth

Inverted Head and Shoulders + supposed reduction of oil production = we go to 60$?

JesusShuttlesworth Updated 

Friday as usual was down day, even though I wanted to believe that the resistance line would act as support, of course it didn't, it was obvious specially being a Friday, my mistake. RSI very overbought, Stochastic overbought, Momentum peaked, all at 10.700, it had to come down and the end of the week was perfect for that. We are still going up, still an uptrend....

JesusShuttlesworth

As you can see in the chart, the previous Resistance becomes now the Support (10640 area). Take a look at the RSI too, you can see the area where the RSI ends the exhaustion (small downtrends), so that line works as a support in the RSI, but doesn't mean it has to be touched. Today is Friday so volume is usually weaker. We may see DAX drop a little but coming back...

JesusShuttlesworth

Making this updated chart to warn you to be careful with what happens on Monday. Doesn't mean we're going up right on Monday. We may still drop down a bit. Looking at the Daily chart, the trendline hasn't been touched yet. So we may drop down to around 10.210 and that's where the line is touched. Also, the RSI is currently sitting at 30, so tomorrow it might drop...

JesusShuttlesworth Updated 

Weekly chart trendline shows big support right now in the 10.250 area. Plus, the volume has been rising in the last few days, which is a good sign. Probability of going up soon.