The market is going to form a double top chart pattern. If so, we should expect for the downward movement to 1300.00 level at least and watch for the price action in that zone.
If the price can drop below 1300.00 level, for confirmation the double top chart pattern as a reversal one the price will need to break the local swing low. It will give a signal that the...
XAUUSD reversed off its resistance at 1311.2 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could drop further to its support at 1298.14 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) reversed off its resistance at 98% where a corresponding drop could occur.
XAGUSD is approaching its resistance at 15.52 (61.8% & 100% Fibonacci extension, horizontal overlap resistance) where it is could reverse down to its support at 15.23 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal is expected.
The SP500 index has reached an interesting resistance area, let's see what will happen tomorrow pending the FED decision ....
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XAUUSD is approaching its resistance at 1311.36 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 1298.14 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
CURRENTLY IN CORRECTIVE PHASE FROM THAT BEARISH IMPULSE
THERE IS ALSO RSI DIVERGENCE
IDEALLY PRICE SHOULD CREATE NEXT IMPULSE ONCE IT BREAKS AND CLOSES BELOW THE TRENDLINE
Target based on 1.618 on Fib Extension + previous structure
The trend for SILVER is still up up up .
The broken trendline is some kind of bear signal.
But on this chart, it shows us another possibility that SILVER could reach the trendline again by approaching the blue top zone.
Less is more!
Based on their correlation since 2002 we can say that EURUSD is a leading indicator for Copper. Especially since 2010, they both trade within a 1M Channel Down, with EURUSD however respecting the Lower Highs/ Lower Lows more. So with EURUSD on a long term bearish trend towards the 1.0358 support, we expect 2.000 long term for Copper. Technically Copper's 1M is on...
OIL price is directly correlated to the CAD weighted average and USD weighted average.
Earlier this morning I sent a post regarding USDCAD.
Click on the chart below to see what I think for CAD and USD and consequently OIL price.
Its been a while since I've looked at the precious metal, Gold. After consolidating between the 1280.00-1290.00 price region, we finally saw a break to the upside. We've steadily been climbing, breaching the weekly key of 1292.25, we then saw slight consolidation around the 78.6% Fibonacci level building up buyers liquidity. This saw price bounce higher, breaking...
USOil moved higher yesterday, supported by the API weekly inventory report, which revealed a 2.1 mln bbl draw-down in crude stocks. Expectations had been for about a 0.5 mln bbl build. The price topped at $59.85 yesterday before turning lower during the US session and consolidating overnight around $59.10. Concerns over the fate of the US-China trade deal,...
welcome to another free signal!
Important: Remember guys it`s FED-TIME! Volatility incoming!
Type: Day - Swingtrade
Target 1: 1.300,92
Target 2: 1.299,42
Targt 3: 1.296,59
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