We correctly predicted that gold would move along the upper channel line for few days before moving higher. Yesterday gold decoupled from the upper channel line to the upside. RSI and MACD are bullish. Stochastics is also reversing to the bullish side. We expect gold to continue go higher and subsequently reach our price targets. Our short term price target of...
WTI oil continues to trade around 72 USD per barrel. Recently OPEC deal cleared out uncertainty about future supply boosts in the oil market. Despite initial selloff as reaction to the announcement of a deal we view this agreement among OPEC as bullish developement for medium and long term price of oil. Rising vaccination rates are leading to higher mobility in...
In 2020 airlines around the globe experienced one of the worst years in their history due to pandemic crisis and worldwide restrictions on travel and freedom of movement. This had detrimental impact on airlines around the world. Story is no different for Lufthansa AG. Last year German government bailed out Lufthansa AG with 9 billion euros. Subsequently German...
Technical indicators are mixed for gold. Yet fundamentals remain bullish. As gold continues to move along upper channel line we believe that it is poised for further move up. Our short term price target remains 1850 USD and our medium term price target remains 1875 USD. Prior thoughts from 14th July 2021: More prior thoughts from 30th June 2021: Here we hinted...
Daimler provides interesting setup. RSI and price show divergence. MACD and Stochastic attempt to reverse. Price traveled back towards its 20-day Simple Moving Average. In addition to that ADX contains high value which suggests that prevailing trend is at its peak. We would like to update our short term price target for DAI to 75 EUR and our medium term price...
The Coca Cola Company lacks a trend at the moment. This is reflected in low ADX value on daily timeframe. However, RSI, MACD and Stochastics are turning bullish. Support currently sits at 53.55 USD while resistance appears at 56.48 USD. We think there is potential for KO to resume its previous bullish trend and move above its resistance. Because of that we would...
On 20th July 2021 USOIL halted its decline at 65.11 USD per barrel. Price traveled back to its short term simple moving average. Simultaneously, RSI reversed above 30 points, not piercing oversold line. This phenomenon tends to accompany strong trends of higher degree. In regards to oil it suggests that bullish trend of higher degree remains intact. MACD is...
Gold is losing trend as is reflected in low ADX value. MACD, RSI and Stochastics reversed suggesting trouble for gold. At the same time gold's price returned to downward moving channel through its upper bound (acting before as support). This upper bound now acts as resistance and takes important role for the short term. We expect price to move along this upper...
WTI oil continues to experience further selling pressure. Currently it trades between support at 61.70 USD (we expect this level to hold in case of further selling pressure that would take us below 65 USD per barrel) and resistance at 67.94 USD. We expect WTI oil to struggle in the short term and possibly travel towards 65 USD per barrel. We still view OPEC deal...
WTI oil continues to experience selling pressure due to the stalemate within OPEC deal . However, anonymous sources hinted that some form of agreement has been struck between Saudi Arabia and UAE. If true, this would be bullish developement for price of oil. Before the selloff started we stated that selling would cease around 70 USD per barrel. Then price found...
Gold keeps rising as we correctly predicted. RSI, MACD and Stochastics remain bullish. ADX undergoes reset. We decided to change our 1850 USD medium price target to short term price target. In addition to that we would like to set new medium term price target to 1875 USD. Thoughts from 30th June 2021: Here we hinted at divergence between RSI and price of gold....
Southwest Airlines Company experiences correction similarly like Delta Airlines. Graphs of these two companies show high positive correlation. Though there are some differences. In Southwest Airlines Company RSI bottomed out and reversed back above 30 points. MACD and Stochastics show first signs of reversal too. In addition to that LUV did not retrace its recent...
Delta Airlines experiences correction for about four months now. ADX continues to climb above 27 points which suggests that trend might be near its peak. In addition to that RSI fails to cross below 30 points. Such phenomenon in RSI tends to correlate with strong bullish trend of higher degree and weak bearish trend of lower degree. MACD and Stochastics remain...
GM did gap up (at the open) towards resistance when U.S. market opened on 9th July 2021. Today it held just below resistance and did not retrace its gap. RSI and Stochastics reversed to the bullish side. MACD is neutral. ADX is very low which suggests weak trend or no trend in GM. At the same time price retracement failed to occur. If retracement fails to occur in...
Recently we correctly predicted reversal in the downtrend of smaller degree (correction). Subsequently our price target of 1810 USD per ounce was reached. Currently, RSI, MACD and Stochastics are bullish. Our new medium term price target is 1850 USD per ounce. Thoughts from 30th June 2021: Here we hinted at divergence between RSI and price of gold. We also noted...
USOIL keeps rising. Technicals are reaching overbought zone and this could potentionally lead to shortlived correction. Despite increasing odds of correction we remain bullish. We actually think that if correction would to occur it could present itself with attractive entries for long side of the trade. Our new medium price target for USOIL to 77.50 USD per...
EURUSD sold off last week after FOMC decision. It halted its decline at 1.18471 USD. We think this downward pressure is just temporary until market processes what was conveyed at FOMC. Currently, we think that EURUSD is very attractive in terms of pricing. RSI reversed to the upside from oversold area on daily timeframe. In addition to that MACD direction seems to...
EURUSD shows divergence between price and RSI. This is coincides with same action in gold. Our short term price target remains 1.20 USD. Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is...