The recent test of the 51 area signaled the biggest net short position by producers in a very long time.
The sold in anticipation of higher prices but now the market topped and needs to correct before we see a big push to the $60 that Saudi Arabia wish to reach soon.
I will be placing a limit at the 48 area and sell to $40 - $35 range, That is the area where...
Price on this pair has been on a long term downward trend ultimately leading to that massive Brexit drop in June.
Since then we see price consolidating in a symmetrical triangle near the weekly 111 area.
I have developed multiple scenarios for this pair.
In my opinion it could still retest the 4h support (Pink Line) before making a charge to the 118 area....
Bull flag forming on NG1! daily chart.
Price consolidated in that pattern between 2 weekly zones and when it finally broke, bull momentum slowed and profit taking occurred.
I expect a retest on the upper channel before a charge to the 3.0 level.
This is one of those text book flag-retest setup
Opportunities to swing trade this commodity have been far and...
Dragon approaching a weekly resistance.
Just like GN a line had been on both sides been respected and bull power seemed to ease of on friday suggesting maybe its overbought and a short term retrace is on the cards.
I will be monitoring the action around the trendline and should price fail to break it throughout the week a short position back to support could be...
Price has been in a downwards trend since about AUG 2015, Brexit broke the trend Line and It came to retest.
Bounced twice on the major support and seemed to send a double bottom buy signal but approached the trend line it had just recently tested.
1 of 2 things will happen, 1. Price will break the line and make a run for the 1.9055 area (Completing the...
GU showing signs of a medium term downtrend.
Previous downtrend seemed to be broken but im getting a different picture (atleast for a short term) .
Look at higher time frames and it looks like a Triangle settling so the down move might be contained in that.
Nevertheless I will wait for retest or enter aggressive with a small position.
AU has been stuck in a consolidation on H1 and lower frames but Long term sell opportunity.... Previous uptrend was broken with friday (26th) close...
I have a sell Limit at the blue area but an agressive sell can also be warranted.
1st Target is the conservative 0.75398 area but I will move my stop there and let it run