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.
Yesterday is a throw away day. We are still inside of fridays range, big targets being 3000 above and the area at 2952ish below.
I think the line in the sand today is 2963, if we fall below that i think we run quickly to the area at 2952.
I would expect VPOC from friday to act as some resitance above.
If the market pushes through it, I would be looking for...
Descending Triangles, Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the...
I was asked to share my thoughts on nat.gas :)
on a daily the market has reached a key level of support:
conjunction of horizontal support with a falling trendline of a broken channel and rsi divergence.
I think that buyers will push the market to higher levels.
Key levels of resistance are:
very very peculiar sentiment on gold.
if we precisely analyze the price action from the beginning of summer,
we will notice with you that the market was trading in a sharp bullish trend
and, what is crucially important, without correction.
From September, however, the picture has started to change.
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WTI has clearly respected a key structure support level on a daily.
we see a sequence of rejection/dodji/engulfing candles and rsi divergence as well.
I have a bullish bias on WTI and currently hold a long position.
My stop is 50 level but I have entered a few days earlier.
Key levels for targets:
dollar index has finally reached a resistance line of a rising channel on daily.
there is a high chance to see a strong bearish wave but
for confirmation, we are waiting for a bearish violation of a rising wedge pattern
within the channel.
Target level will be based on horizontal structure and support of the channel -...
I am and I was among those traders, who was skeptical in a further exponential growth on gold this autumn.
And finally selling volumes have been accumulated and we see a strong bearish breakout of key structure support.
Our bias clearly remains bearish and there is a lot of space to go lower,
however, what is...