Big bearish engulfing at ATHs. Either this is a major shake out or it is geared for closing the gap roughly $14 lower.
Gold broke out of its pennant pattern a couple of days ago. Either we have a breakdown or a shake out (caught me out at break even) occurring right now just below the 50ma. A similar shake out occurred during the last pennant just before it exploded north. I have bullish leanings for gold, given all the stimulus and extra stimulus coming out of the US. I'll be...
The buy price is on the backtest of the 200ma. Target $10,000 again. The stop price is below the upper blue rail.
Both patterns are bullish, whichever you choose to interpret it as. Additionally, there is decreasing volume as it reaches its 200ma on the daily. Lloyds has been very well behaved when it comes to chart patterns over the past year. MACD crossing down is a reason for concern though.
TW marking out a bull flag with decreasing volume, looking to land on its 200ma on the daily chart. It is usually a reliable pattern in this company though there is so much going on in the wider market I will be waiting for a breakout on volume with a backtest on the hourly.
Falling wedge, gold making a similar pattern and breaking out today. Any significant move in gold should inspire a simultaneous move in Fresnillo. Fib targets.
Hopefully the title isn't a shock to you, given Brexit uncertainty for the past couple of year. Rising wedge is usually a bearish indicator but you might notice that higher volume days are accumulative - big boys taking bullish position? I'm staying away but have alerts set to look at possible shorts in the longer term.
Fresnillo is still coiling on the weekly, likely to last into 2020 before any sign of a true breakout. Significant weakening of the USD - likely given their 'not-QE' $120B stimulus package - will lead to a rush to relatively cheap gold.
BP breakdown out of its megaphone pattern. The backtest was unsuccessful. However, a strengthening '£ vs. $' might encourage it higher. Worth watching.
If this backtest holds then it should create the foundation for a larger move to highs
Watch for increasing volume and a breakout. 20ma supporting.
Possible Elliot Wave setting up on ATST weekly.