If gold keeps falling I can see bear miners moving. Dust or Jdst. 2 targets any reverse movement would stop out this idea. Target 1 daily 50sma & 10ema weekly...target 2 monthy 10ema & weekly upper BB.
I've counted a possible 5 waves down and think ACB hit a bottom for now. This is on a 1 hour chart and a possible ABC correction may happen next or we're in wave 3 up to go much higher. 2nd point is that ACB has down trended for 7 days and see this as a good bounce place. The big run up needs to be reflected by another counter wave up. The MJ index also bounced...
Today Cann got back over the 50 day SMA. I got the stop loss near $3 and sell target $7.50-$9.50. November should also have a very large wave, so keep your eyes open. Overall we're in an uptrend for 3 months. Beyond that January gets a pop and April. MJ has developed seasonal runs.
I think Cann will dip further nearing $2.30 then bounce. It should build power then spring near July 1st. I'd total target $18. Things can get weird in the OTCworld, so if it doesn't move well near July 1st get out.
Keep this and other MJ stocks on your radar for now.
I feel friday should be the last day of bullish gold and be a buy spot for bearish miners. This should lead to a strong impulse wave for bearish gold. Stop is in a basic spot of resistance.
Good Risk reward ratio if gold continues bearish next week.
Something to watch. Oil daily RSI over 70 and a pull back may be near. Things still can remain oversold or overbought for longer than forecasted.
A new month may also help bring a support retest near $50-51ish.
Stop near $56.50.
I've been looking at gaps more lately and I'm seeing more correlations in price targets and timing. 8/28-29 left a daily gap on the daily Gold chart I believe at minimum it should get filled very very soon. I left my price prediction for the remainder of the month on the chart. This monthly path would leave a DOJI for the monthly September chart.
I'm less sure...
Sometimes things seem like they can't go higher until they do. I wouldn't short Gold until it passes at least 161.8 FIB. I see too many short charts on this platform. This wave could finish strongly nearing 1420-30. I feel this wave 3 had a small micro wave 1 and small micro wave 3. This last wave 5 should extend due to the 2 small prior waves.
This idea works off of 5 waves down and I'd look for this to happen on Wednesday. Trend line could act as support for Bullish VIX and may bounce there. Reaching the 5 wave bottom would be a good Risk reward play. Stop loss would be just below 5th wave and reward target could be high on a bullish VIX movement. IT's one to watch at least.
The window for bull oil $51 is not possible do to the seasonality of oil. I was looking for an additional price spike, but oil only had a strong correction. I feel oil may try to work it's way towards $40 this downturn.
Targets are best guesses for daily oil prices on an ETF. I'm not sure on the timing of the price action, but I can see a move happening very very...
I didn't think oil would go bull again, but Friday was strong. I think it rocks up to $50-52 area again and caps off it's top. I see it quickly retreating back to the $42 area.
Oil based stocks may push to new lows. I could see a few oil based companies getting kicked off the exchange.
Good trade ideas can go differently than forecasted and it's your job to...
This a VIX index play and look up the VIX if you don't understand it. Basically it's playing the market fear on a bear correction. I'm thinking Tuesday will exhaust any bull market activity then a market correction will continue. I also think this will head towards the 1.681 fib area. My plan after that is to take some decently sold quality stocks bull for 3 days...
Mapping out some possible directions to think over. It's mostly an elliot wave based view.
Make your own decisions. Any posted charts are best guesses and not investing advise.
Markets change and the analysis may become incorrect.
Many forecasts are just wrong because it's difficult to map the future or we'd all be rich.
Basic idea with a possible J-hook forming. I like Dust's bottom curve formation and the fact that it gaped bull 3 days ago. Stop is the gap area.
This idea breaks if Dust fills the gap, can't stay above the 10EMA and it loses it's curve like feature turning into a J shape.
The markets are wild so you need to make your own calls. Market forecasts (charts) are...