Log scale showing the dollar's struggles staying above critical resistance. Is this a sign of impending trouble in the US?
US Oil to retreat again later this week. Price has traded within range for a few months now, and will likely continue a little longer before breaking downward. It's a consolidation period before there's not left to prop the price up. The inventory report this week, or more news on Iran's contribution to supply will eventually cause the break. The downward run...
Interesting trend in the weekly gold plot. Although gold has been ugly for awhile now, the weekly chart appears to show a break of the downtrend, and the downtrend changing from resistance to support. It's not entirely support, and we'll know for sure in a couple of weeks. But I saw this from the trend I drew months ago. Could it be a break? Could it be a...
There's some evidence suggesting the SPY can continue its downward move for a couple more days. There's a gap yet to close around the 201-202 range that may be in reach if today's break of the 206 level holds (otherwise, not). You can see the RSI broke its trend, suggesting relief and potential for further downside. The MACD has plenty of room to move lower as well.
Gold ready to bouce. Target up $100-130 over next month.
I believe NVAX will continue to move up over the next 1-2 weeks, until it hits $9.85-$10.00. At this point, I think it will hit resistance at the longer term upper trend line. I am also watching to make sure it remains within the upward channel. If it breaks out to the right, I'll exit my positions.
FANG has been consolidating for a few weeks now, after completing an ascending base pattern. The MACD and RSI have reset, and are now showing bullish parameters. Considering how you view the daily chart trend, it appears a possible breakout has occurred on Monday, currently resting today's price on the trendline as support. It's possible FANG can trend upward...
On my May 23 post, I explained the build up of FANG's Ascending Base pattern (). Since then, it's completed, breaking out on June 3 and continuing to its target shown in light blue on the graph. FANG now appears to be forming a Flag pattern, which tends to continue the previous trend (up) after breaking out of the flag pattern. FANG has held pretty strong at...
Ascending base almost complete. $76.65 is the price to breakout.
Inverse head and shoulders reversal on gold. supported by MACD. Confirmation will come at magenta dashed line break.
Symmetrical Triangle formation. 5 points have formed. We're past the typical 1/2-3/4 breakout point of the triangle, so if it occurs, it will soon. Volume decreases through pattern formation as expected. Consolidation may be nearing an end. Target set at ~$34 mark.
AU Trend Line Breakout, Retest, Double Bottom Reversal. Notes on chart.
CLF Falling Wedge meeting trend support
Downtrend broken, throwback to former resistance line - now support. Breakout and throwback created channel. Trading channel pretty steep - can play this for a short-term gain.