Gold (XAUUSD) completed this week the first Bearish Cross on the 1W MACD since the week of April 25 2022 (a year+ ago). This is a strong bearish technical signal that cannot be ignored as its last two occurrences above the 0.00 MACD level, kickstarted multi-month declines, all exactly from the same 2070 - 2080 Resistance level.
In order for such a correction to...
Gold (XAUUSD) has started the final phase of the bottom process as we presented on the 1D time-frame last week:
This time we shift to the 4H chart, as some short-term parameters are more obvious. Following the 4H Death Cross, Gold made today an exact rejection on the 4H MA50 (blue trend-line). This is a similar rejection to February 14, which also came after...
Gold (XAUUSD) is trading below its 1D MA50 (blue trend-line) for the second week in a row, something that hasn't done since early March. In striking fashion Gold's price action since the March 2022 High is astonishingly similar to Bitcoin's (BTCUSD) price action from its April 2021 High to November 2021 (up until now, it remains to be seen if it continues to...
WTI Oil (USOIL) has easily hit our short-term target (see chart below) and is now consolidating:
This consolidation is being done within a Triangle pattern, which as we saw on Friday it remained valid despite the fact that the price broke marginally above it, as the 4H candle closed eventually back inside it. This suggests that the (currently neutral trend)...
Gold (XAUUSD) closed yesterday a 1D candle below its 1D MA50 (blue trend-line) for the first time since March 10 and that is a bearish continuation signal. As mentioned before, the long-term Support lever is the 1D MA100 (green trend-line), which provided the necessary support to rebound on the March 08 Low. That was a Higher Low at the bottom of the long-term...
Last time we looked into Palladium (XPDUSD) is was almost a year ago:
This time the price has formed a Channel Up pattern after breaking above the dashed Lower Highs trend-line form the October 04 2022 High. The price is exactly on the 1D MA50 (blue trend-line) now, near the bottom of the Channel Up, which makes it a technical buy. Our target is the top of...
Platinum (XPTUSD) is trading on a Triangle pattern which is within a larger Channel Up. Last time we had this sequence on patterns was last November-December. Once the price hit the 1D MA50 (blue trend-line), it rebounded to the 1.5 Fibonacci extension. The current 1.5 Fib is at 1180 but we set a Target slightly lower at 1170. Notice how even the 1D MACD sequences...
Gold (XAUUSD) hit today the 4H MA200 (orange trend-line) for the first time in 10 days and is rebounding towards the 4H MA50 (blue trend-line). The long-term pattern remains a Channel Up, which is what helped us take the break-out buy late last month as illustrated on the idea below:
This time the rebound is a clear bottom buy opportunity with a Higher Lows...
Gold (XAUUSD) hit both of our targets on our previous short-term analysis (see chart below) as not only did it hit the top (Higher Highs trend-line) of the March Channel Up, but it also pulled back to the 4H MA50 (blue trend-line):
As we pointed out, we expected that to be the Support and the recent rally since hitting it, validates that expectation. We...
Gold (XAUUSD) hit the 2075 Resistance that was formed on the August 07 2020 market Top and was the level that made a new aggressive rejection on the March 08 2022 High, in the midst of the Russia - Ukraine war.
So far it has reacted with a rejection in the early trading sessions. They key in our view is the weekly (1W) candle closing. As long as it closes below...
WTI Oil (USOIL) hit the last remaining targets as pointed out on our April 24 idea:
In fact, this completed our long-term 3 target approach as presented on our analysis three weeks ago:
That has come after a Double Bottom buy almost 2 months ago (March 16), which falls into our usual long-term swing trading approach that we apply successfully on our...
Our Gold (XAUUSD) outlook is intact since last week's buy signal after the closing above the 4H MA50:
Our target remains 2070 which is the top (Higher Highs trend-line) of the medium-term Channel Up pattern. Every pull-back to the 4H MA50 (blue trend-line) is a buy opportunity.
-------------------------------------------------------------------------------
...
Perfect execution of our plan last Monday for WTI Oil (USOIL) as the price initially rebounded to the 4H MA50 (blue trend-line), got rejected and hit our 74.00 target:
That is the top of the Pivot Zone that started back in mid-December. We are now expecting a (near) test of the 1D MA50 (red trend-line) as a Resistance to see if we'll get the rejection for...
Gold (XAUUSD) closed above the 4H MA50 (blue trend-line) yesterday for the first time since April 14. This is the first major bullish signal in a while but it is not confirmed yet as the price remains and in fact got rejected on the (dashed) Channel Down.
A 4H candle close above it will be a buy signal for us, targeting the top of the Channel Up at 2070. On the...
The WTI Oil (USOIL) got, as we expected, heavily rejected on the 1D MA200 (orange trend-line), starting to fill the gap of March:
Our next target is 74.00, just above the Pivot Zone, but on the short-term, with the 4H RSI rebounding after getting oversold (has given a 100% buy signal short-term in the past 4 months), we expect a rise towards the 4H MA50...
As per my earlier post XAUUSD impulse down is completed and now price action is correcting the impulse in an ABC fashion in 5-3-5 pattern.
My target for this ABC is 2020. 2018 and 2030 are the .618%/.786% retracements from the impulse down wave from 2048-1969.
If we see any rejections on daily on these levels one can go short.
Trade Safe!
Gold (XAUUSD) is testing the bottom (Higher Lows trend-line) of the Channel Up that started a month ago (March 20). The previous two times it hit this line, the price rebounded and a new Higher High was made.
This time however the price has already been rejected twice on the 4H MA50, which keeps the short-term bearish (until it closes a 4H candle above it). With...
WTI OIL (USOIL) broke yesterday below its 4H MA50 (blue trend-line) and today upon re-testing it as a Resistance, it is currently being rejected. This is a major sell signal as since December 2022 inside the Resistance Zone, every such break-out was a confirmed sell. All prior 5 cases hit the Support Zone shortly after. Even an oversold 4H RSI doesn't mean a...
