Natural Gas (NG1!) has been posting Higher Lows, three so far since the February 20 Low, despite the fact that it remains within a Channel Down since the October 27 2023 High. This might be a short-term trend change similar to the Channel Up that started on the April 14 2023 Low following a sharp and long-term selling sequence. Notice also the Higher Lows Bullish...
Silver (XAGUSD) easily broke through the 25.000 Target we set 2 months ago (February 15, see chart below) and invalidated the Triangle pattern as it is entering into a new long-term Bull Cycle:
This was achieved as it broke above the 2-year Resistance Zone 1 and the Triangle transitioned into a Channel Up. Last week it hit Resistance Zone 2 and technically we...
There is no doubt that Gold (XAUUSD) has entered a new Bull Cycle after last month's bullish break-out. Last week though it closed its 1W candle almost on a Doji which can potentially be a trend reversal, at least on the short-term.
As you can see on this 1W chart, which displays the similarities between the previous Cycle and the current, such 1W candles have...
WTI Oil (USOIL) is trading within a Channel Up pattern since the January 28 High supported by the 4H MA50 (blue trend-line) - 4H MA200 (orange trend-line) Zone. The Bullish Legs have so far recorded rises within a +8.24% to +10.24% range.
Right now it appears that Oil has finished the latest Bullish Leg as the 4H RSI made its standard Peak formation and declined....
Gold (XAUUSD) has been trading within a very aggressive (blue) Channel Up, which today hit the top of the logarithmic (dotted) 6-month Channel Up. If it is indeed symmetric with the first Bullish Leg of that Channel Up, then it is close to completing a +10.60% rise which should call for a 4H MA50 (blue trend-line) pull-back.
As a result we expect a quick fall to...
Gold (XAUUSD) has technically started its new Bull Cycle after breaking above the Resistance and previous All Time High (ATH) into green overbought territory. Being overbought in such instances isn't necessarily bearish but suggests that even though the long-term trend is now heavily bullish (and should be for the next year or so), we should look for key...
Gold (XAUUSD) hit this morning our long-term 2260 Target, which we called for on our March 2021 (see chart below) idea:
That not only made a Higher High formation at the top of the 5-month Channel Up that started on the November 03 2023 Low but also hit the symmetrical 1.382 Fibonacci extension as the last Higher High on May 04 2023.
This has indeed been a...
Gold (XAUUSD) is on a short-term uptrend on the 1H time-frame as it is supported by a Higher Lows trend-line since Friday's bottom. As long as this trend-line holds, we are bullish, targeting 2220 (marginally below Resistance 1).
If the price breaks and closes a 1H candle below the Higher Lows trend-line, we will see and target 2150 (marginally above Support...
WTI Oil (USOIL) eventually held the short-term uptrend within the Bullish Leg of the Channel Up and hit our 81.85 Target, as explained on our last idea (March 14 2024, see chart below):
Moving out to the 1D time-frame, we can see that the price has started to pull-back after reaching the top (Higher Highs trend-line) of the long-term Channel Up pattern. In...
Silver (XAGUSD) reached the 25.000 Target that we set more than a month ago (February 15, see chart below) easily surpassing the 0.786 Fibonacci level and getting heavily rejected exactly at the top (Lower Highs trend-line) of the 1 year Triangle pattern:
On July 20 2023, a rejection slightly lower started wave (e-f) towards the bottom of the High Volatility...
Two weeks ago (March 07 2024, see chart below) we explored the possibility of Gold (XAUUSD) starting a new cyclical Mega Rally on the 1W time-frame after the recent bounce on the 1W MA50 (blue trend-line):
This has turned out to be the reality as Gold closed a 1W candle above the Resistance Zone. That is the first signal of the start of the new Mega Cycle and...
Gasoline (RBOB1!) is staging a short-term rebound towards the top of the (dotted) Channel Up ahead of a 1D Golden Cross. The 18-month pattern is a Channel Down and last time we saw those technical dynamics was during the previous Bullish Wave/ Channel Up that peaked on the 1.236 Fibonacci extension (April 12 2023) exactly on the Golden Cross and then corrected...
Palladium (XPDUSD) has been trading within a Channel Down pattern since the October 04 2022 High and the recent Feb 13 2024 Low rally is approaching the 1D MA200 (orange trend-line). This is where the last Lower High of the Channel Down was priced (Dec 22 2023), thus a sell opportunity is being presented. On top of that, the 1D RSI just hit the 70.00 overbought...
WTI Oil (USOIL) is trading within a short-term Channel Up on the 4H time-frame, with the wider pattern still a Channel Up since the December 13 2023 market bottom. As long as the price keeps closing the 4H candles within the Channel Up, we remain bullish, targeting 81.85 (+6.64%, which is the rise of the previous Bullish Leg of the dashed Rising Megaphone).
If a...
Gold (XAUUSD) eventually broke above the Channel Up on our last signal (March 04 2024, see chart below) and almost hit the 2200 Target:
It may be time to take profit on the break-out buy as the Bullish Leg since the February 14 Low is so far in perfect symmetry with the previous that peaked on December 04 2023 and potentially with the one before that peaked...
Platinum (XPTUSD) broke above the 1D MA200 (orange trend-line), and being on 1D RSI Higher Lows, we may be having a strong rally in its early stages. At least this is what the very same Higher Lows RSI pattern has led to when Platinum made the very same 1D MA200 break-out on October 26 2022.
The result was a +28.50% instant rally from the bottom and then a finaly...
Copper (HG1!) has entered the 3.9740 - 4.0235 Resistance Zone that has been in effect since May 01 2023. It has provided the rejections of August 01 2023 and December 27 2023, with the latter hitting the 0.618 Fibonacci retracement upon its reversal and the former the 0.786 level.
Technically the current 1D CCI pattern is almost identical to the one that preceded...
Natural Gas (NG1!) gave us an excellent sell signal on our last 1D analysis (January 11 2024, see chart below) and easily hit our 2.135 Target:
That Channel Down broke and the new that has emerged is more aggressive, headed into a 1D MACD Bearish Cross. If that happens, we will sell on the spot, if not we will wait until a 1D MA50 (blue trend-line) test,...
