mikhem

mikhem

So Gold's upward thrust appears to have been stalled recently due to the resurgent US Dollar. Every time we think Dollar strength is beginning to wane and #Gold can once again resume it's flight to the stars, something fundamental pops back up and Dollar ascendency once again becomes the norm. A war of attrition and which ultimately will win out? Well as always...

mikhem

So just when you think everything is golden, maybe it's not! From a recent high of 1326, we're now at key support levels if this latest Gold run is going to continue. 1303 is first up but if that's breached then it's 1295. If we go through here, which is imo a significant support level, then 1281 may not be far behind. That said as always, much depends on...

mikhem

FTSE lacking momentum one way or another Technically we can see that the FTSE 100 remains negatively biased. The (orange) Chikou Span is well below the price line and has yet to define any significant support or resistance levels, which may not help if any further negative Brexit or other political concerns rear their ugly heads. That said a flattening Kijun Sen...

mikhem

Is there any hope for a rise in the price of Bitcoin? Well imo technically there may well be. In the short term I wouldn't be surprised to see a retest of the 3145 low area, however if price doesn't go lower and can break current support at 3518, then an attempt at 6000 and above may well be on the cards. But of course, and as can be seen we have a significant...

mikhem

So a sudden drop back down to 95.81 for the DXY on Friday saw almost everything push northward including the Euro. Technically it looks like this may be another attempt to reverse the downward trend from the beginning of 2018 and signal a new phase of Euro strength. That may be the case but we can see price has already 'rested' against resistance at 1.14025 and...

mikhem

So copper seems to have bottomed twice around the 2.60 area and is trying again to push higher following its rapid demise mid 2018. Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance...

mikhem

So after a volatile 2018, is this Uranium's year to shine? Well we've had 4/5 very good weeks but imo we still have some way to go yet before we can consider this a bullish period. On a technical basis the chikou span, tenkan sen and kijun sen and kumo are all yet to confirm a bull run is underway. Fundamentally not much seems to have changed other than the UK...

mikhem

Gold finally showing direction, but will it last... So last week I suggested gold was treading water looking for direction. Well a mighty push up of $22 on Friday seems to have confirmed it has found a positive direction, but will it continue? On a technical basis there are issues as can be seen from the notes on the chart above. On a fundamental basis there...

mikhem

A positive 3% gain to end WK3 for RDSB hasn't really changed anything for me. WK4 needs to see a finish above the (blue) 26 period moving average to continue consolidation and point toward positive momentum. Fundamentals in oil and natural gas aren't really giving away any secrets so I'm not expecting to see any push beyond 2450 unless external forces provide a...

mikhem Updated 

Well Wall St decided the recent results were OK, which in the current environment says quite a lot. Personally I really can't see how it stays above water given the fundamentals (high debt and huge competition). From a user point of view it's not intuitive (imo). Technically a continuation of the current positive move north would suggest an option to buy. If it...

mikhem

Having put in a couple of positive weeks, Impax Environmental can't yet seem to break through signaificant resistance at 263. Until it can, we seem to be stuck in a rangebound market, waiting for something (Trump/Xi?) to give it a boost. A close above 263 in WK4 should confirm a change in the trend from negative to positive.

mikhem

After a tumultuous few months on the Dow, four straight winning weeks might suggest it's time to start running with the bulls again, however my opinion would be to stay sat on the sidelines until all the bear traps have been completely removed. For sure, there's been a significan push from a low of 21712 up to the recent close of 24706. But the DJIA has now run...

mikhem

Although the DXY has weakened from recent highs touching 97.7, the longterm trend is still positive. That said I'm not expecting a significant push through towards 98 and higher, more likely a drift down toward 95. There is support at this level, but if that doesn't hold we could be looking at 94. Let's see what happens with Trump and Xi to get a better idea on direction

mikhem

Four positive weeks may well be the signal that the FTSE has possibly reached its low point and is beginning to swing back into a more positive setup. A push past 7100 would strengthen this view point and open up the route toward 7350. However trend is still down and this may simply signal a longer term period of consolidation and range-bound activity for the...

mikhem

Copper has been languishing at lowly levels for quite some time, but it finally looks as though it may be beginning to come back to life somewhat (imho - dyor!). Personally I'm still a long way from seeing any build-up in momentum, but a weak cross perhaps next week is a good start and any more positive news regarding the US/China trade wars will surely help.

mikhem

Gold has been on a bit of a tear over the past few weeks, but it appears to be treading water right now, looking for direction. My personal view is that there will likely be some sort of kiss-and-make-up between Trump and Xi which is going to allow a more riskier approach in the markets, causing gold to drop back toward the mid 1200's. That said, conversely the...

mikhem

Gold's taken a pounding over recent weeks, but has held its ground where it needs to. If weakness in the #DXY continues, this could be the start of a long leg up imho