#GOLD bounced over the primary uptrend and the support area at $1766 confirmed by a bullish divergence from the RSI and the MACD provided a positive signal as well. Hence, GOLD is in the stage to test the resistance area at $1855 then $1917 as long as it continues above the upward trendline.
It's here, the massive collapse few experts warned about. Today, was proof that demand is much smaller than mainstream economists thought. Sure, June contracts are $21, but, that can change like it did today.
From here, what can we expect with oil being at $1 a barrel? Simple. Massive closures of oil fields and oil producers going bust. Remember that oil...
I believe in patterns and cycles, particularly within financial markets, there is very often clear symmetry between time periods and price action and i believe wholeheartedly in the study of cycles, so let's begin.
~ 20 year cycle from the start of the bull run, to the eventual low after the peak
XPTUSD has made a real bearish structure since running in the highs of 1041, forming Lower Highs and Lower Lows. Thus i would not advice looking for any buys until we break these structures with bullish price action. This been said I see an area of interest where price could reject and have the potential to turn bullish and reverse. On the daily TF a bottom has...
I am frequently asked about my opinion on investing in gold on current market prices.
though I have already expressed my opinion on this subject multiple times,
here is the answer from a different angle.
Analysing gold on weekly we can quite easily identify key structure levels that are important for the market...
though we see some correctional movement on silver
my outlook is still bearish.
currently, the market is standing just beneath the major falling trendline.
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag.
for us, it will be a perfect selling signal.
XAUUSD - Wait for the trend break OR bounce!
We will either make a small flat correction similar to the one right before and continue the uptrend to break the recent top or we will start a much bigger correction pattern from here before continuing the more long- term up trend.
Wait for clear setups before entry!
If you would like me to forecast...
First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume, Macro nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up.
XXX/USD: Slight Bearish
Gold & Silver: ...
Just a quick post to say:
- I have been watching diversified commodity indexes recently as they provide meaningful diversification in any portfolio (generally a small % allocation is recommended) .
- Over the past 9 years (as you can see) this has been in a strong and long-lived bear market. The bottom must be somewhere, below $13 is a good candidate...