The rouble has seen weakness since the recent Syria debacle, and this weakness looks to continue longterm as shown below. But as for now, here is a shorter term outlook with a great risk/reward ratio trade.
Below is a rough longterm forecast/scenario:
beyond technicals, the crypto space looks to be finding its footing again and we are seeing serious signs of a recovery. AMD caters to this market so a return to bullish momentum in this space generally means an increase in microchips, thus a positive speculative play on AMD. Additionally, markets seem to be making a turnaround so this should be positive for AMD.
Copper and Gold both seems to have a shorter term picture that relies strongly on dollar strength. Not much economic data dropping today, so watch what develops early next week in order to get a better view of whats going on long-term.
Longterm picture:
We have seen what looks like the recovery of cryptos, with the past week seeing consistent increases in value. This looks like the building of a major cycle 1st wave, and could be the beginning of a bullish run that should take us back to the december highs longterm, and beyond. (see below for a rough longterm forecast- Ceteris paribus)
LONGTERM:
Just like most of the crypto market, buyers seem to be taking a breather after bidding prices up for the whole of the past week. Here is a buy position with a 2.26:1 REWARD:RISK RATIO
WellsFargo is constantly bombarded for its foul practises but its share price handled the backlash quite well. As a result of this underlying sentiment to support the share price being in congruence with the technicals, I think this provides a pretty good buy-side opportunity.
S/l: $43
T/p: $80
Give this one some time to develop before pulling the trigger. Based off the current price action I'm more inclined to think scenario 2 will pan out. I think the markets clears all the early buyers and then picks up nearer to the base of the prior bullish impulse.
I think it clear to most in the space that the entire crypto market seems to be making plays towards a recovery. Here is a way to get some BTC efficiently on the dips.
