MrAndroid

MrAndroid

This downtrend in Silver looks poised for a breakout. We are talking about decades long chart patterns here.

MrAndroid

To me this looks like the perfect buy the dip price with a very nice bull flag. The crowd are buying the golden idea.

MrAndroid

The big pink trend line is a mid line of the very long term structure of broadening ascending wedge. The current chart pattern shown in yellow is that same pattern on a smaller scale. Leans bearish. Also volume declining as well as RSI momentum. I think the bitcoin rally is worn out. Watch out for a false breakout to the upside.

MrAndroid

DXY showing signs of weakness at a long term support zone added to which I can draw a head and shoulders bearish chart pattern here.

MrAndroid

This chart has a channel for the bull market since 2009 joining the low of 2009 with the low of 2020. It looks like a reasonably good fit at the top of the channel too apart from the 2021 top. The current situation looks to me like an attempt at a breakout from a down channel and also a triangle pattern (shown in yellow). Soon we should get some clarity as to...

MrAndroid

The Hong Kong dollar is confined to an extremely tight trading range by the central bank. The authorities have been able to maintain this peg for many years. Right now the dollar is trading right at the top of the range. If the peg breaks it would be notable.

MrAndroid

This chart of Korean Won shows a very clear rejection off a long term previous support area and there is today forming a right shoulder of a head and shoulders. One to watch.

MrAndroid

The last few days have seen the formation of a triangle pattern on the gold price. The context of this is a parallel channel up trend that looks like it could break out of the longer term down trend channel. In the really big picture you could see this as being a potential breakout of a cup and handle pattern.

MrAndroid

Fairly large rally yesterday but I see a resistance line right above this price, a declining volume trend and divergence on the RSI. Bearish.

MrAndroid

The chart shows that a breakout from a broadening descending wedge pattern reached its target which is a logical line of resistance. The last few sessions saw a warning very bearish candle which retested and failed to break out from that same line of resistance. I think now a reversal back down is the most likely scenario.

MrAndroid

On the SPY ETF the recent rally in price is divergent with volume which has been decreasing over recent days. There is also a new shorter term downtrend line just above this level. Tomorrow could see a reversal.

MrAndroid

The last few days have seen several candles with long lower wicks on them at a key support level of 3.4%. It looks like yields may rise in the near future (ie bonds sell off).

MrAndroid

This chart of the ratio of stocks to gold shows a current descending triangle pattern within an ascending broadening wedge longer term structure. It may we be that gold is about to outperform stocks. This does not mean it is necessarily a good point to get into gold though.

MrAndroid

Fib retracement on Meta is in the 0.5 to 0.62 range and I can see that you can draw a channel downtrend with the current price being very close to the top of this channel. Could be a shorting opportunity.

MrAndroid

MOVE is a bond market volatility index and it is now at the highest level since 2009. Yields have been reducing at a time when central banks are trying to increase liquidity. Somewhat ominous.

MrAndroid

The big pink dashed trendline here is the mid line of a very large broadening ascending wedge pattern that seems to have been developing since 2018. This is a bearish pattern. The inverse head and shoulders of recent weeks is a very bullish pattern that does seem to be playing out however there are also contra patterns here.

MrAndroid

Today the price of gold in British Pounds has exceeded the previous all time high breaking the top resistance line. I will now look for a re-test of that level to see whether or not this is a false breakout.

MrAndroid

Today the 10YY has proven that the last breakout turned out to be false as Treasuries are being bought hard. I think this is a fear move because of banking issues. Usually a lower interest rate / yield would be positive for stocks but not necessarily in the face of other bad events happening.