Fida4u

Fida4u

Silver seems to be setting up for a beating. Its forming a rising wedge, whos top aligns with a strong resistance. The rsi and macd are forming obvious bearish divergences. I believe that the light holiday liquidity, alongside the bearish setup, is a recipe for a beautiful buying opportunity

Fida4u

Silver looks like its trying to complete a correction before a new uptrend is formed. Its also grinding on the top of a falling wedge.

Fida4u

The Natgas bottom looks very close. It looks to be forming a broadening bottom. A marginal new high, a small pullback , then take off.

Fida4u

On the 4th hour chart , natural gas looks to be forming a minor bullish divergence on the MACD. It has also formed a falling wedge , which has a higher probability of breaking to the upside. The current sell off was obvious when natural gas rallied to the upper trend line and couldn't break it. A move to the lower trendline is almost finished , a grind lower to...

Fida4u

Natural gas is prepping for a big move to the upside after the gap fill that's marked on the chart (2.35 vicinity). The gap coincidently lines up with the lower trend line of a falling wedge , making this area a magnet. The move in Natural gas in the previous weeks was very large , which subsequently required some consolidation before another leg. Assuming the...

Fida4u

Natural gas looks to be forming a near-term top in what I think is an ABC move up. Bearish divergences are building on the hourly and 4 hr chart. Although, these divergences can continue to build while Natural gas grinds up , the risk-reward ratio warrants caution. Where does the B wave look to target? The $2.40 vicinity looks plausible, being there was a lot of...

Fida4u

Natural gas has been oscillating in a wide range between $2.34 and $2.60, give or take a few cents. $2.50 support/resistance has been the decision level for a sharp move in either direction. At this point, both extremities have been tested multiple times , weakening both support and resistance. I believe that if natural gas bounces here and tests the higher...

Fida4u Updated 

The daily candle that just opened is forming in a very interesting place. It will encounter some strong resistance around the $2.50 mark, which coincides with the last candle and down trend line since December. If Nat gas manages to push thru and break above $2.50 and close above the down trend line, then game on to +$3. If it fails at $2.50 and heads lower to the...

Fida4u

Silver looks like it's losing steam here, and consolidation is about to start. Negative divergence is building on the rsi, the MACD is curling downwards, and the price action is finding significant overhead resistance. The price action also formed a rising wedge, I see significant support at the 200 dma, which also coincides with the top end of previous...

Fida4u

The S&P closed right under major resistance on friday. This leaves the door open for 1 of multiple scenarios to play out. 1- the market tanks from here and dips below 3800 2- the market dips, hold a higher low then breaks thru resistance to 4321, then 4400 3- the market melts up to the top of the channel at 4400

Fida4u

Silver looks set for a move upwards. Its been consolidating its recent feom the lows. It remains above the 200 dma and down trendline. It looks healthy.

Fida4u

A break of 94.607 would spell trouble for the dxy. The bearish divergences lead me to believe the top is in.

Fida4u

A dip further to 4321 is possible. A bounce from there could set up a move back to the neckline of an inverse head and shoulder formation.

Fida4u

Gold will most likely rally to the 1855-1860 area before having a significant pullback. That area marks the major trendline that has marked the tops of this consolidation that has lasted close to 18 months. The bullish case would be marked by a touch of the trendline , a correction, then a decisive break and rally. The length of the consolidation will lead to a...

Fida4u

I see bearish divergences building on the the hourly chart of silver as it moves its way far up into the apex of the rising wedge. This leads me to believe this move up is exhausted, barring any news that will be a catalyst for further upside. The MACD shows bearish divergence and so does the RSI. The pullback will be a very key determinant in regards to silvers...

Fida4u

Silver looks to be in the midst of a pullback. Wensdays FOMC meeting and fridays non farm payroll numbers will be crucial to the markets movement next week. If the fed sounds very hawkish, the pullback will likely go a little deeper for silver, possibly to the $22.60-$23 level. In the case where the fed comes off dovish or metals react positively, I see silver...

Fida4u

The dollar index looks to still have some upside left before it rolls over. I expect it to trade sideways to slightly down for a short period of time, perhaps tagging the 50 DMA before resuming its uptrend into my yellow target box. The fundememtals are not supportive of a huge dollar rally from here, especially with a 3 trillion dollar infrastructure bill on the...

Fida4u

Silver has had a powerful move as of recently. I believe that it is coming into some strong resistance at the $25 mark, along side some weaking momentum on the smaller time frames. Silver gave back a great portion of its rally on friday after backtesting the rising wedge it broke down from the previous day. The 4hr chart exhibits some bearish divergences that are...