This is one of the few charts that may attract you in this tough market. This bullish head and shoulders bottom has a measured upside target at and around $120 zone with tight stop below the right shoulder in case the trade goes against you.
Close below $95.50 in any given day will confirm downside momentum so far the uptrend is solid and remain solid till price breaks below that level. There is a good chance we will see $79/$80 before we see $130 which is very possible.
Gold indeed surprised a lot about its recent strong swing up and it seems it's justing getting started but pullback is needed. Will see if it can cool down and retraces back to it's 38.2% next few weeks.
It looks everyone is eyeing on $1950 but more important is $1940.24 push above this level has higher chance to crash $1950 next few sessions but failure to push above $1940.24 will suggest revisit of recent swing low $1810.10 monthly low. So far market managed temporarily punish short sellers who stayed longer than was necessary but buyers are not detected.
Today's 11% RSI jump from yesterday's close is indeed encouraging but still price is within the weakness zone and if it fails to hold $106.95 area trigger your short entry with tight stop at and around $109 area and target price $93.5
Last week we predicted that price will bounce back to $31 but today's action was not that of rosy many of us hoped for. If price fails to push over $30.05 levels we should start worrying about our recent bullish bet and protect profits.
Recent market resurgence though helped by short covering it was strong and remained strong but $AAPL did under perform and may soon prove that downside momentum will continue. $94 so far remained support and price held very well though it penetrated several times. Weekly close below that level will be a bad news for the bulls and good news for the bears but also...