Euro Stoxx Index is also showing signs similar to my CAC40 idea (link below). Again, be wary with the Fed tomorrow. Cutting rates, and future rate cuts, means that there will be nowhere to go for yield other than the stock market. Central banks are attempting to keep stocks propped. This is their new mandate: to keep assets propped. You can see a some what of a...
We can open BUY/SELL position near marked zones in channel. Potential profit will be in 3 times bigger than risk.
We can open SELL in Zone if the price will cross lower border of the Range Channel and daily candle will close under it. Potential profit will be in 3 times bigger then risk.
Technically, ascending triangle and trend lines show Gold is still looking on an up trend with bullish indicators. However, fundamentals of Fed Cut could lead to a large reversal, breaking bottom trend line and sinking below $1400. The RSI isn't showing overly overbought or undersold, so there may be some technical support/resistance from a break out either way....
I have been hovering over the buy button on corn past week. Wasn't convinced enough to enter, and now heading back to Fib retracement towards $4. The closer to this the stronger chance of a rally - from either fundamentals coning out due to crop damage and lower yields, and also some technical short closing since last rally. Keeping in mind the August report,...
We can open SELL at the time with good risk/reward corelation.
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I feel corn is an easy trade at moment. If we look at 4.29 as a kind of average way point at the moment. If it shoots above that with more news of more crop issues in US, look for an overbought RSI to short or jump on the long train if feel confident. There are uncertainties of the amount of acreage planted, and extended heat causing further crop damage, but...
Gold is playing to recent Fib levels on the 4HR. Waiting for Fed cut news to see where it goes. Personally feel the fed cut is priced in, a 25 point cut maybe pop and drop below current levels, but 1400 psychological support - and 50 would be a pop and hold at higher level IMO. At the moment if RSI gets above 70 looking at short, but any long am happy to sit out...
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USOIL is currently in buy region after making a successful pullback, we can look to buy within the red zone marked on the chart, a break below 54.39 invalidate this analysis...
The price is breakout downward channel and it we can see the grow is start!
XAGUSD labeled within Bullish Corrective structure in Primary Y (pink). Patterns: - Intermediate (A) (green) - Three Swings Sequence in its Minor ABC (blue). - Intermediate (B) (green) - Complex Correction which could transform into a Double Three if a move on the down-side shows strength. Silver should be able to start a bullish impulse once the current structure...
XAUUSD labeled within Bullish Impulse in Intermediate (3) (green). Patterns: - Minor 3 (green) - Bullish Extension - Minor 4 (green) - Contracting Triangle Gold should be able to resume the bullish impulse after completing the correction in Minor 4 (green). Minor 5 (green) should present a sudden and sustained rally.