clingwrappingsheets

clingwrappingsheets

Potential movements laid out from support and resistance levels, to closely monitor.

clingwrappingsheets

(Note turquoise indicators this time) Resistance levels 1. from 124.76 to 125.08 indicates a potential slowdown upon hitting that level. 2. Another more recent gap at 125.48 3. and the Fibb level at 125.77 indicates multiple slowdown regions 4. not to mention top boundary of the declining channel What are the signs of continued upward movement? 1. The strong...

clingwrappingsheets

Nice convergence of multiple Fibb levels, see the chart for more details. MACD is low and momentum is pretty dull here. See red triangle, resistance level to buy back. Lets see if it hits

clingwrappingsheets Updated 

Reaching new highs For confirmation of short; 1. Reached slowdown area, red 2. Overbought RSI and 0 gradient 3. Overbought MACD and declining signal line Short at 52.40 Stop loss: honestly cant tell at this point in time Expected TP: before preceeding high, 50.40 (maybe at 50.55) Profit range of 1.80, to achieve a rr ratio of 2, SL is to be set at 53.3 (i.e....

clingwrappingsheets Updated 

Some thoughts on gold Prices above multiple supports, would expect the downward momentum to slow now. Expected possible moves are the dotted blue and red based on the trend and support levels. Not really sure how to trade this. Will wait and see as it develops. Also note the larger symmetrical forming, indicates long term consolidation. I'm leaning towards the...

clingwrappingsheets Updated 

Current prices are at the top of the downward channel which may be a build up for a short opportunity. For confirmation; 1. declining MACD histogram; 2a. oversold RSI levels; 2b. declining RSI levels; and 3. bearish engulfing. Trade details Stop loss: Immediate preceding high Partial profit: Short term profit in the region of the green lines (strong resistance...

clingwrappingsheets Updated 

Cotton has been falling for the past few months. Signs of consolidation and lost of steam has begun. Before we go into the charts, a brief summary of what we see empirically - Prices tend to bottom out around August. Immediate low presents a strong support due to historical hits and fib hits. RSI and MACD has indicated buy signals. Confirmation upon; 1. Positive...

clingwrappingsheets Updated 

Current prices are near previous lows. An increasing MACD and RSI indicates build up for a long opportunity. Higher highs and higher lows have formed in the weekly chart for Wheat, signalling recovery from the long term downtrend. For confirmation; 1. increasing MACD histogram - Check; 2a. overbought RSI levels - Check; and 2b. increasing RSI levels -...

clingwrappingsheets Updated 

Current prices are at the top of the downward channel which may be a build up for a short term short opportunity. For confirmation; 1. declining MACD histogram - Check; 2a. oversold RSI levels - Check; 2b. declining RSI levels; and 3. breakdown of the bearish horizontal triangle, see 240 chart (48.4) Trade details Stop loss: Immediate preceding high...