Gold has experienced turbulence after trying to trend above the $2000 round number in August 2020. All appeared fine at first but price soon started to decline and has since formed an area of consolidation between $1764 and $2075 which is the current all-time high. Price dipped below the daily 200 simple moving average in November 2020 but quickly moved...
In the previous post on Gold, we could clearly see a reversal at the weekly 50 simple moving average proving this to be a strong level of support. So far this week and price has now moved below the 50sma displaying a bearish candle at the moment but the important thing to note is the closing candle at the end of the week. If price closes above the 50sma again at...
The US market was closed on Monday due to Presidents Day but closed the previous week on a high making a new all-time high. As this is the first trading day of the week, there is little activity so far but we may see the momentum continue to push price higher this week. Alternatively, the market could pull back towards the 20sma or the 50sma. Just above...
Just a week ago traders were experiencing high emotions as the markets experienced its regular pullbacks but now price is proving how resilient it is by continuing to create new record highs. Since November 2020 when a previous all-time high was broken at $3588, price had been on a gradual rise using the 20 simple moving average as support but the most recent...
Gold was looking strong at the start of the year after having bounced off the daily 200 simple moving average in December. It did appear as though the bullish momentum was going to push price up towards the all-time high at $2075 but the sellers are making this task difficult right now. We have to remember that price is in an area of consolidation so the constant...
USDTRY has not been shy when it comes to showing off its linear trends as we witnessed staggering growth of 89% in 2018 and 44% in one month alone in August 2018 reaching a high of 7.0831. Price consolidated for 2 years after that and broke out in August 2020 and went on to trend to a high of 8.5777. Price then went on a decline and is currently sitting at a...
Many would have argued that Bitcoin was never going to exceed the previous all-time high set back in December 2017 just under $20,000 because nobody really expected it to even get that high in the first place. The fact is that price came near $20,000 but then experienced an 85% decline to a low of $3122 a year later in December 2018, so the odds of climbing that...
Although Gold has not been going anyway for a long period of time, we can see a pattern emerging which could be an early indication of further strength to come. Price has declined to the weekly 50 simple moving average a number of times now and after hitting this level we usually see strong bullish reversals. Although the current bullish candle is not yet...
Another week and another record set for the S&P 500 which is having a strong 2021 so far. A new president is in the White House and stocks continue to fly as our scanners are signalling plenty of investing opportunities. Since the breakout of the September to November consolidation zone, price has now climbed a healthy 7.4% and still rising. With the 20 simple...
The S&P started off 2021 with a strong first week of trading and the current trend forming appears linear and strong. We can identify a linear trend as price has just been using the 20 simple moving average as support since the consolidation breakout when price moved above $3588 in November 2020. We also have an indicator called the LTI which is our proprietary...
Since the beginning of 2020, Gold has been favouring the daily 200 simple moving average as a comfortable level of support. The first contact we can see was in March 2020 which was during the peak of the global pandemic last year. Price created a low at $1451 before returning back above the 200sma. Following the bounce off support, we saw price climb 42% over...
Gold is acting as expected following its bounce off the weely 50 simple moving average zonal support area. During that period, price did drop below the daily 200 simple moving average and that move could have influenced traders to panic and exit positions prematurely. Looking at the higher timeframe, which in this case is the weekly chart, allows us to look at...
As we have now entered a new year we want to see if the momentum from 2020 will seep over and continue to flood us with further profits for our portfolio. During November, the S&P 500 started creating new record highs once again following its breakout of consolidation. On the last trading day of 2020, price tagged the current all-time high but was not able to...
Bitcoin broke the previous all-time high and the $20,000 round number on December 16th and created a new record high on December 20th at $24,298. It took 3 years for price to revisit this level and we may see price move on up towards the $30,000 round number or we may even see another sharp decline. Cryptos are very volatile and very hard to get an idea of where...
Following on from the breakout of $3588 on November 24th, price appears to be forming a linear bullish trend. We can identify this when price uses the 20sma as support/resistance as this indicates that the pullbacks are shallow and short in length of time. The most recent consolidation period (shaded area) lasted from September 2nd to November 24th and this...
Gold has created a pattern on the weekly timeframe where it has been using the 50 simple moving average as support and appears to have done so again last week. Price did not exactly touch the 50sma but came close and used that zone as a support level. A bounce off this area does not confirm that we will see a continuation to the upside but it prepares us in...
The S&P is off to a flying end of the year and if the momentum continues to push price skywards, then we may even see a bull trend through 2021. Price went into consolidation from September 2nd and created a fake breakout on November 9th as it attempted to break out for the first time. Then again on November 16th, price gapped up and broke out of consolidation...
Bitcoin is on the move again and we are seeing impulsive moves similar to what we witnessed back in 2017 where price almost reached $20,000. Following the decline in December 2017, price came down to the weekly 200 simple moving average where it found support before starting another bullish rally. Price didn’t travel as far as the previous trend and only reach a...