On last week's Gold (XAUUSD) analysis we called it was time to finally break below the 1W MA50 (chart below) and it did in spectacular fashion, already hitting the 1850 target: The price now almost hit the 1W MA200 (red trend-line) and being near the bottom (Lower Lows trend-line) of the 5-month Channel Down, the conditions for a short-term (at least) rebound...
Short 2.930 Target 1: 2.860 Target 2: <2.78 Stop: 2.978 Elliotwave: Starting Wave 3 of (3)
WTI Oil (USOIL) hit and broke last week the 93.75 Resistance (which was the October 10 & November 07 2022 Highs) but failed to stay above it and got aggressively rejected back below it. This emphatic rejection indicates that as long as the price doesn't close a 1W candle above the Resistance, the short-term trend has more probabilities of being bearish. ** Cup...
Gold (XAUUSD) is about to test the 1W MA50 (blue trend-line) for the first time since the week of December 26 2022. Last time it was nearly hit (February 20 - 27 2023) it supported the pull-back emphatically, and initiated a strong rebound. Almost 5 months ago (May 4), when everyone in the market was jubilant about Gold's new All Time High, we warned the...
Gold (XAUUSD) is trading around the 1D MA50 (blue trend-line) after a Lower Highs trend-line at the top of 2-month Triangle. The MACD on the 1D time-frame has formed a Bullish Cross and as the green Ichimoku Cloud turned green, it waves a buy signal. Every time the Ichimoku turned green since July, Gold flashed a buy signal. As a result we expect one more rise...
WTI Oil (USOIL) almost hit our $93 target on our last idea two weeks ago (see chart below) and yesterday reached the top (Higher Highs trend-line) of the 3-month Channel Up: The first reaction is so far a rejection that has already taken the price to the 4H MA50 (blue trend-line). This is the first contact with it in 3 weeks but it's not a confirmed sell yet...
Copper (HG1!) has been trading within a Triangle pattern for more than 2 years and recently the price action has gotten so narrow that it prompts to a break-out soon. The 1D MA50 (blue trend-line) has been acting as the Pivot level while the 1D MA200 (orange trend-line) had the last rejection on record on September 01. The 1D RSI since the May 24 Low has been...
Last time we looked at Gold (XAUUSD), it gave us two sell opportunities both of which hit their targets (see chart below): The price has been rising since, supported by the 1H MA50 (blue trend-line) and on top of that, the 1H Golden Cross has been formed. Last time we saw that pattern was on August 23. On that fractal, once the 1H MA50 broke, the price...
Natural Gas (NG!) is struggling to get past the 1D MA50 (blue trend-line), which is the short-term Resistance and at the same time is supported by the 1D MA100 (green trend-line). The long-term pattern is a Bullish Megaphone and besides the 1D MA100, the price action is supported by the pattern's bottom (Higher Lows trend-line). Recently however the pattern that...
Gold (XAUUSD) is trading within a Channel Up pattern but following the downtrend since the September 01 High, it may be nothing more but a Bull Flat pattern. Whatever the long-term case, the short-term trade is a sell as the price appears to be getting rejecting at the top of the pattern, while the 1D MA200 (orange trend-line) looms above. Our target is the...
Gold (XAUUSD) may have formed a Golden Cross on the 4H time-frame but the bullish effect can only be short-term as the Falling Wedge pattern limits the upside below its Lower Highs trend-line. Regardless of that, ahead of an emerging 4H MACD Bullish Cross, we are using this opportunity for a quick buy that targets 1947.50. A closing below the 0.5 Fibonacci...
Short term trade entry (ZS Soybean) with risk/reward of 2.03.
Gold (XAUUSD) has been consolidating for the past 2 trading sessions, having held the 1D MA50 (blue trend-line) on Friday as Support. With the 4H STOCH RSI on a similar cross-to-cross sequence as July 05/06, one last pull-back inside the Ichimoku cloud, can be a Higher Low on an emerging Channel Up. If we see that rebound, we will buy and set a quick target just...
WTI Oil (USOIL) got emphatically rejected yesterday on the 4H MA50 (blue trend-line) and formed another Lower High on the emerging Channel Down. The price is now approaching the 4H MA200 (orange trend-line) on an additional sell signal as the 4H MACD just completed a Bearish Cross, the first since the one that started this correction at the top on August 10. As a...
Gold (XAUUSD) broke below the 1D MA200 (orange trend-line) for the first time since December 19 2022 and that of course didn't do any favors to the bullish cause. The trend remains bearish within a Channel Down since the May 04 2023 High and the technical outlook gets even worse as the 1D MA50 (blue trend-line) is on course to forming a 1D Death Cross below the 1D...
Gold (XAUUSD) easily hit our 1913 short-term target within the narrow Channel Down, as presented on our last idea (see chart below): As the price hit yesterday the 1D MA200 (orange trend-line) for the first time since December 20 2022, it is time we look again at the long-term charts in an attempt to identify potential Support/ Pivot levels. On the 1D...
Gold (XAUUSD) broke below its 1H MA50 again (blue trend-line). Within the 2-week Channel Down pattern on this chart, every time the price broke below the 1H MA50, it continued to a Lower Low. With the 1H MACD also under a Bearish Cross formation, this is a clear technical sell signal and below Support 1 (1925) is Support 2 (1912.60) for a potential Lower Low. We...
Gold crossed and will most likely close the day under the 1D MA50 turning the 1D timeframe marginally bearish (RSI = 44.910, MACD = 1.190, ADX = 25.617). The strongest Support level is the 1D MA200, which right now is trading exactly on S1 (1,893). We have however a bullish pattern close to completion as the price may be forming the RS of a huge Inverse Head and...