neilwilsonmarkets

neilwilsonmarkets

last line of defence for the euro as the resistance at 1.1710 gives way and the 78.6% fib level at 1.1750 is tested - breach here calls for retest of 1.20

neilwilsonmarkets

big divergence still on the RSI and MACD showing momentum fading. Trades to the bottom of the Bollinger band and could mean revert . key support at 50k, then 48k is the 23.6% retracement

neilwilsonmarkets

Looking for a breach of the big $1,760 resistance to clear out a move to the top of the Bollinger Band around $1795/1800. Bullish MACD crossover in oversold territory signals momentum with bulls on this but resistance is strong at $1.760. Fundamentals encouraging as the Fed lent on the short-end of the curve by saying it won't raise rates but letting longer-end...

neilwilsonmarkets

RR set up for perfect inverse head and shoulders?

neilwilsonmarkets

Dollar bulls are getting energised by the break of the 1.2050 horizontal support but rising trend support off the 2020 lows is likely to prove key and may see the dollar bulls get trapped.

neilwilsonmarkets

Breakout from the top of the channel confirming bullish break of the 50day SMA with additional 21-day cross over. Real rates more negative - 10yr TIPS at -1.06% and weaker dollar = +ve for gold.

neilwilsonmarkets

Update on Friday's note - gold really has not delivered the kind of confirmation of the bullish move above the 50-day SMA, downtrend still dominant

neilwilsonmarkets

Gold broke through the descending 50-day SMA. Decisive breaks of this line have in the past signalled start of uptrend however the medium-term downward trend persists as gold slides down the channel towards the 200-day SMA. Looking for a strong bullish candle today followed by similar on Monday for confirmation of the move.

neilwilsonmarkets

FTSE 100 cleared out the June peak at 6511 and holds gains this morning - a close at post-pandemic highs today would be bullish and calls for return to 6850 area, big multi-year Fibonacci level and early March swing high failure zone. Fundamentals are looking much more positive on UK equities now. As per Goldman Sachs this week the UK is a ‘buy’ is fast becoming...

neilwilsonmarkets

EURUSD jumped to its best since Apr 2018 but ran slap into the resistance around 1.2170, the 50% retracement of the move down off the 2014 highs to late 2016 lows. we'll see if this can be cleared out today, if not then a possible pullback to 1.2050, the Dec 2nd low

neilwilsonmarkets

Cineworld shares have risen sharply as part of the growth-to-value rotation into cyclicals but it's apparent some of the aggressive move higher earlier this morning was a major short squeeze that has eased this morning.