Just as Gold and equities plummeted over the last 4 weeks, GDX was in no way spared, losing at least 25% from 4 weeks ago. An absolutely deep retracement following Gold prices. Daily candlestick pattern suggest a brief consolidation at current levels, 30-31. Do not yet see a bottoming pattern... not yet.
The NASDAQ (and other equities indexes) closed the week on a strong rebound, having reached a lower support (11700). The resulting weekly candlestick is one with a long lower tail, suggesting a possible test to regain the 13K level. The daily chart closed the highest for the week, and similarly projects a somewhat cautious bullish outlook for the incoming week. I...
Crude oil, as previously heads up, has broken out of its triangle decisively. It is now needed to clear 120 to continue its uptrend comfortably, with a near term target of 125. Nonetheless, daily technicals are supportive, with bullish candlestick patterns, so 125 target is deemed reasonably attainable. Longer term upside targets are 155-160, by early June, which...
LUNA (and UST) rocked the (crypto) markets last week, and hogged the headlines. There were many who got wiped out, and the prospect of recovery appears very remote, if at all. Here I would like to share why I chose LUNA to be a major part of my portfolio, entered and managed the trade (I would not term this as an investment, really). I hope that this sharing can...
Just looked into Solana and can’t help but notice a triangle formation. The recent crypto rout dislodged it out the bottom of the triangle, and it appears to have popped back in. Noted that typical failures of pattern failures indicates the direct opposite; for this case, exit and Dee try into the triangle at the bottom suggests that it should find the exit of the...
The China ETF, GXC, has in recent weeks been beaten down. This is great part dur to concerns about their ideology about a Zero COVID strategy, where it comes with great economic costs. The Western media (mostly) has had a field day whacking China on their "primitive" idea, saying that it is impossible, it is unreasonable, it is irrational, etc. I beg to...
I have not seen such bullish candlestick patterns for a very long time now... The weekly chart had an amazing weekly candle where it is a T type doji, with indications of massive upward momentum, pushing with upward pressure. This comes in tow with two or three previous long tail pattern, and the weekly close is highest in the past 6 weeks. Weekly MACD appear to...
Gold has been in a four week retracement, with the greatest momentum this past week, pushing down to near 1800. The weekly and daily technicals suggest more downside to 1765, where the next support lies. Watch these levels for a possible consolidation / bounce. Clearly, this retracement is deeper than expected, and would require a quick rebound to resume the...
Some very intriguing issues in Terra Luna, and technically, it is breaching the Weekly StdDev -4 levels of the Bollinger Bands , which also happens to be near a support zone . Extremely volatile situation, but do the math, you'd get what I mean about the standard deviations... All the best!
Was in a conversation and the SGDMYR exchange rate came up. Since 2016, Ihad thought that the SGDMYR would hit 3.50 as a target, a very painful target for many. Well, I was not right as it only breached 3.20 then and nicely consolidated. The 3.50 target is still in play, and now present to you technically how it is projected to be... Over the years since 2016, a...
A lot of talk in the vines now about Bitcoin entering or is in a bear market. By this long term measure, using a mentor-inspired self-designed indicator, this has proved useful in demarcating the Bull Bear phases. As observed in the BTCUSD Weekly chart, Bitcoin is already in the Bear phase of the market and continues so for a few months, at least to August...
As posted previously, data is (subtly) showing the start already... IF anyone really still cares. Not expecting to be a major or steep wave... not yet at least. May in crease in may Palindromic pun intended.
As projected previously, Crude Oil prices are spiking and momentum continue to suggest that it is on track, and just might accelerate. Weekly chart closed with bullish momentum pattern and above average of the recent weeks. Long lower tails and close near the weekly tops suggest bullish momentum (also picking up?) The daily chart is now holding above a...
Another down week in the NASDAQ, as expected. PReviousl expectations were generall in line, although how things panned out were more volatile... bearish for NASDAQ IMHO. The weekly chart looks even worse now than previously, and it is not about breaking below 13K conclusively. It did a swooping technical rebound, only to be a dead cat bounce, where the next...
Quick note that previous projections to 2100 still maintained and appear to be on track, despite a recent retracement in Gold, partially due to the sudden rise of the USD. Although Gold prices fell below the daily 55EMA, today (5th May) saw a gap up in Asian hours after opening. There is a strong follow through (Gap and Run) and IF it closes at this level, then...
In an earlier (longer range) post, Crude to spike over USD150 this time... , Crude oil, energy were already earmarked for an upside spike in the coming weeks to months. Yesterday, due to a EU proposal to have a Russian oil ban including an embargo on crude in six months , it sent prices rocketing over 5% for yesterday. This rise was probably fueled further by...
This is perhaps a little controversial, but my earlier observations are panning out, and worse than I had thought... Basically, the S&P500 since the beginning of 2022 has been struggling. Called previously, based on weekly chart, the S&P500 futures to target 4140. It had since done that a couple of times. Yesterday, it revisited, only to close below support on...
BAD NEWS here... for many, not all. The NASDAQ followed through with the heavy downside momentum, and broke below 13,000! Worse, it closed the week below the 13,000 (and the 12,900 intraday buffer set out earlier). The weekly chart show nice long candles that end the weeks very close to the low or at the low, showing the continued downside momentum that is not...