S&P Futures are seeing a large sell-off, after putting in a double-top through a longer-term wedge pattern. Current price action has broke the large, ascending trend line first created in in 2012; subsequently, that was the last year the S&P saw a 10+% correction.
Reality sucks when key data points deteriorate. Housing data is continuing its downward path, while...
A couple of things to watch out for at the moment:
OVERSTOCK CEO PATRICK BYRNE PROMISES “INTERESTING ANNOUNCEMENTS” AT LAS VEGAS BITCOIN CONFERENCE
insidebitcoins.com
NEW YORK (InsideBitcoins) — Promising some “interesting announcements” regarding Bitcoin on Twitter (see below), Patrick Byrne, CEO of Overstock.com, will deliver the final keynote for the Inside...
If Two Gartley patterns can intersect, like they do on this chart, Then I think the second Gartley pattern is ready to give us a nice extension. The first Gartley pattern, starting at the end of June 2013, extended beautifully from late December 2013 into mid March 2014. This same extension leg (indicated by first red dotted arrow) is also the XA leg of the...
Gold presents very interesting pattern on daily charts. There is a clear pennant formation on a downtrend.
Pennants are continuation patterns. So a break to the downside could take this down to 1150 levels relatively shortly.
There are fundamental aspects that would support this move too. With the US on mend and Euro area in tatters, strengthening on USD would be...
We are back inside the weekly trendline. This is a major line and I expect some fighting in here before we get a definitive direction. If you are long from support keep stops tight. Targets would be 99.00 - 99.75 area. FYI...if you are trading the SEP contract you should roll into OCT on Monday. We do not have a position...we missed it (Bummer). Have a...
Crude oil tested a critical support level on the daily chart last session. This market has experienced such an aggressive sell off, it has forced price to accelerate away from its mean value - leaving that mean to price gap.
Generally when these gaps occur, the market likes to 'sling back' and fill the gap between mean and price which is knows as the 'elastic...
Crude oil tested a critical support level on the daily chart last session. This market has experienced such an aggressive sell off, it has forced price to accelerate away from it's mean value - leaving that mean to price gap.
Generally when these gaps occur, the market likes to 'sling back' and fill the gap between mean and price which is knows as the 'elastic...
* Price hit the extension of the neckline from last year's large
head and shoulders pattern and reversed almost to the penny.
* Price is still in a broad range area that may prove to be choppy.
Trade the range until a trend is determined.
* Until price can break above the neckline extension trend line or
break down back below the red descending trendline...
These days I listen and read pretty optimistic forecasts for the gold price.
For now see this triangle , If this scenario is true the price of gold will soon begin to fall.
What are the chances of this happening?
Since the beginning of 2014 the price fits into an uptrend channel (red lines), in the same way, from May to late June, the price is on an upward channel, and the price converges in a zone where the price getsto an oversold position, moreover, the price has already pass through the previous resistance, and now support, so we wait until the price goes to meet the...
Sort of Symmetrical Triangle formation but more Ascending Triangle rather than Symmetrical can be seen on Crude Oil Daily chart. Anyway, I really like price movements within any kind of triangles until it gets really tight and hot, and when it gets broken it's another opportunity where we want to be placing our orders, right? My prediction is a short term...
Goldilocks is off and running. Per our past posts we had been leaning long but we exited all positions because this coil was getting tighter. The bears won this battle and we are short. We are expecting a fairly large move so we will trim and trail on the way down. One key to successful trading is to push the trade as far as you can. It's hard to do but most...
