Palladium has gone on to shatter records performing a steep climb over the past couple of weeks but will the rise be over as fast as it started? The chart clearly shows the clean breakouts following clean pullbacks in Palladium over the last year and each breakout has resulted in a nice trend. The most recent breakout has been the strongest yet in its recent...
The behaviour of Gold has been consistent over the past couple of years where we have seen trends followed by consolidation periods. The most recent breakout of consolidation on the 6th January 2020, saw price sharply rise to a height of $1.611 but that was short-lived. Price re-entered the consolidation zone and things were not looking good for Gold as its rival...
Following on from the previous Gold post, you would have seen that we mentioned that price was approaching major resistance at $1,557 which was from the high of 4th September 2019. On the 6th January 2020 price eventually broke through this resistance level confirming a continuation to the upside. Price also broke out of consolidation and what tends to happen...
On 17th December 2019, price made an attempt at breaking the $2,000 major round number and failed. From that date through to the end of 2019, it was unclear whether Palladium would exceed $2,000. We prefer to wait for breakouts and avoid trying to guess what price will do next. On 6th January 2020, price broke and closed above $2,000 creating new historical highs...
At the moment Gold is still in consolidation but taking a closer look we can see that price is looking strong and finding its footing at a support base. If we look at the support base formed in April/May 2019, we can identify the trend that followed which saw a 22% rise in the price of Gold. After big moves we usually see exhaustion in the market and in the case...
Following the UK elections on the 12th December 2019, the British Pound showed some strength and tried to battle it out with the Euro. Price managed to push itself down through major support at 0.8297 and things looked positive for the Pound. It wasn’t too long before the market corrected itself and the Pound and the Euro were balanced again and now price has...
If price can climb another 60 points and go beyond the $2,000 mark then it would be creating new record highs for this commodity, which in 2016 was only priced as low as $454. It has travelled some way since then to where it is now and that journey has not been the smoothest. After the smooth linear trend from August 2018 to March 2019, price took a turn and...
The overall structure of the Dow Jones 30 looks positive. The most recent pullback came down and tagged the support level from the consolidation resistance and bounced off from that level. After periods of consolidation, it is always good to see price retest support levels as it confirms the support level is holding and gives more strength to the buyers. Now what...
Gold appears to be repeating its behaviour from earlier this year. From 20th February to 19th June 2019, price was in consolidation and used the base of the consolidation zone as support and then formed a strong uptrend which rose by 22%. If we bring our attention to the current consolidation, the pattern looks very similar to the consolidation period mentioned...
Apple continues to perform well, despite being range-bound for 4 months between May and September 2019. Prior to the consolidation, we saw a rise of 52% from the beginning of the year. After such strong rallies, it is not unusual for price to slow down or pull back sharply as there would be exhaustion amongst the buyers. A deep pullback or long period of...
Since February 2018, a rally began in the Dollar Index which saw it move above the 200sma in May of that year and continued until it reached a high of $97.53 in November 2018. Price has been trending to the upside but it has been a slow gradual process, moving sideways the majority of the time with the occasional breakout. What helped and assisted price is...
With a strong bullish November, we saw price rise by 102 points. The momentum looked strong and seemed as though it was set to continue through to the end of 2019 but the momentum has come to a halt for now. Price has dropped sharply, falling 33 points on the first day in December and not that start of the month we would have liked to see but what does this...
What is clear based on the daily timeframe, the EURUSD is in a downtrend. This downtrend began in February 2018 and has since been on a slow decline. Traders with little patience and experience would have found it impossible to short this forex pair and remain short, but the rewards for doing so would have been in abundance. If we look at the highlighted...
Monday 25th November marked another record-breaking day for the S&P 500. It looked bad for the Index when price started to decline on September 19th 2019 where we saw a 168 point drop over a few days. Something came over the buyers who were able to drive price back up, forcing its way through the previous all-time high at $3,028 on October 28th 2019. We expected...
Price has been doing well since breaking through the previous all-time high at $1,615 on 20th September 2019. Price rallied nicely, following the cup & handle pattern, until it reached a high of $1,823 on 30th October 2019. A pullback, which was to be expected, came down and even dropped 122 points in 2 days. Day traders may have been scared off but as trend...
At the end of last week, price finished with a gap up signalling that the buyers were taking back control and we have seen the bullish momentum continue into this week so far. We are seeing similar price behaviour as the 2017 bullish trends and if history is to repeat itself then we could be in store for a profitable 2020. From the October 3rd low, price has...
Palladium saw a 93% rally from the August 2018 low to the March 2019 high and with every big move we can expect to see price become exhausted and form a pullback, reversal or consolidation. In this case, we saw a period of consolidation which appeared in the form of a cup & handle pattern. A cup & handle in an uptrend is a strong continuation pattern but only if...
The current climb from the October 3rd low has now grown to 8%, that's a 1% increase from the previous week. As a reminder, price broke through the previous all-time high set at $3,028 on October 28th 2019 and we are yet to see a pullback. If you notice all the rallies highlighted on the chart, they were all followed by a pullback or consolidation. The previous...