MidasTouchConsulting

MidasTouchConsulting

My potential H&S for gold is still in play.. We got the bounce from oversold levels yesterday and might get another attempt to recover today/tmrw towards the 38.2%-retracement of the recent sell-off at around USD 2,373ish. But spot gold needs to hold above USD 2,335. Otherwise the sell-off will continue most likely towards USD2,300-2,280ish. Once the lows for...

MidasTouchConsulting

Support: 2350, 2345, 2340, 2330 Resistance: 2366, 2375, 2380 Price action: Sideways to up. Do not short this market anymore! Bias for the day: Bullish above 2340 with targets above 2370 Bearish below 2340 with targets below 2330 Long-term: No new entries at these levels Short-term: Aiming to buy this pullback at 2350 -- Yesterday´s call was spot on....

MidasTouchConsulting

Support: 2410, 2400, 2395, 2380 Resistance: 2420, 2425, 2430, 2435 Price action: Sideways to down. Do not long this market! Bias for the day: Bearish below 2450 with targets below 2400 and 2385 Bullish above 2450 with targets above 2470 Long-term: No new entries at these levels Short-term: Aiming to buy pullback into support between 2370 and 2385

MidasTouchConsulting

Support: 2410, 2400, 2395, 2380 Resistance: 2420, 2425, 2430, 2435 Price action: Sideways to up. Do not short this market! Bias for the day: Bullish above 2400 with targets above 2425 and 2430 Bearish below 2400 with targets below 2390 and 2385 Long-term: No new entries at these levels Short-term: No new entries at these levels

MidasTouchConsulting

Support: 2377, 2370, 2365, 2360 Resistance: 2385, 2390, 2395, 2400 Price action: Sideways to up. Do not short this market! Bias for the day: Bullish above 2377 with targets above 2390 and 2400 Bearish below 2377 with targets below 2370 and 2365 Long-term: No new entries at these levels Short-term: No new entries at these levels

MidasTouchConsulting Updated 

Gold has been in a massive and brutal downtrend over the last four months! Initially my worst case scenario was a move down to 1,240 USD. After a short-lived bounce this support was taken out by the bears and gold moved lower and lower since early July... On Monday this week the psychological support at 1,200 USD was taken out too and during the last three days...

MidasTouchConsulting Updated 

The rally in the US-Dollar has been wreaking havoc on gold. Over the past two weeks, the metal has suffered one of its most devastating losses in 40 years. During the past 10 trading days, gold only had one single up day, with a total loss of more than 4%. Thursday’s decline was enough to also push it to a six-month low. Since end of January I have been warning to...

MidasTouchConsulting

The long awaited pullback in gold is in the making.. !! There is still a bit more room to the downside but I don´t see gold falling below 1,240/1,250 USD anymore.. The perfect buying spot is getting very close... Our patience is paying off.. get ready to load the truck!

MidasTouchConsulting

Finally gold broke through its multi months support at 1,305 USD and has moved clearly below 1,300 USD. We have anticipated this scenario since end of January. Now all the weak hands, that have emotionally been buying gold during the tricky sideways consolidation in spring, are under water and are shaken out. This moment of panic is coming closer and...

MidasTouchConsulting

Since our last analysis Bitcoin 0.32% continued to rally and reached 9,900 USD ten days ago. Obviously our cautious view came a bit early but the last 5-10% of any rally are always the most dangerous ones. At that stage everybody is getting very bullish and weak hands are finally buying while the underlying market moves further into an overbought setup and risk...

MidasTouchConsulting

After failing at 11,800 USD for the second time Bitcoin has been quickly losing ground. Over the last couple of hours prices crashed more than 1,000 USD down to 9,400 USD. That´s a drawdown of nearly 20% in just three days. Volatility is obviously back since the market has finished its “slowly creeping up” phase. Technically Bitcoin has been breaking down from a...

MidasTouchConsulting

I really like Quantstamp (QSP) but still some way to go until promising buying zone ... Be patient...

MidasTouchConsulting

The crypto sector is in a correction that is not over yet... Bitcoin can easily move back towards 8,000 USD. Ether towards 700 USD. Many altcoins could lose all their recent gains.. Be very careful. Still way too many weak hands in the sector...

MidasTouchConsulting

Gold might have one more push higher but the next larger wave will be very likely down and should bring a new buying opportunity between 1,260 and 1,280 USD

MidasTouchConsulting Updated 

IOTA had an incredible run over the last weeks. I have been aggressively buying into weakness in September and October below 0.45$. Now it is about to reach the 3.618% Fib extension at 3.78$ and is getting overbought in the short-term. I´d recommend to take some profits off the table and put some limit buy orders between 1,50$ and 1,90$. As far as I can see the...

MidasTouchConsulting

Gold remains in a corrective structure and might soon test its 200MA around 1,260 USD. If this level doesn't hold expect a sell off down to 1,205 - 1,235 USD. In this zone gold would be a buy again. Until that remain patient even though there might be some short-term recoveries and spikes due to the oversold situation that could be confusing.

MidasTouchConsulting

Steem is moving sideways since early June between roughly 0.95 and 1.60 USD. The chart doesn't look too bullish here but the steep rise in spring certainly needed time to be digested. If 0.90 USD does not hold there is potential for a sell off down to 0.30 USD. On the upside it would be good to see prices back above the 50MA and above the 200EMA. Bollinger...

MidasTouchConsulting

IOTA has been going through a steep correction over the last two and a half months. A clear downtrend channel has emerged. Yet my buying zone between 0.35 - 0.50 USD has been holding so far and I assume that we are in a basing pattern here. The positive divergence in the stochastic points to a bullish breakout and higher prices.