DXY is revy close to his cup and handle target set to 110. Retrace to 100 is expected after the move.
Look like Ugly Head and Shoulder pattern in week, breakout will be below the neck line of first elbow at 93.5. Could aim King dollard and back him to 80 and maybe more...Let see if breakout will happen..
Gold have made its trowback to top of the V bottom and touch three time bottom and didn't fail. NR7 UP formation call for bull wave. It's clear that Gold will want to grap its last UP trend support. Gold is likely to brake this resistance. Long recession mean negative interet and mean commodities timing because banks give nothing.
The flag is confirmed and it possible that retracement will happen into the diagonal channel. break down the diagonal channel could change the trend direction, But bull wave is in place and could reach the new high again.
USOIL is on resistance range from his twice impulse waves. The price would retrace to 50% of the initial bull impulsion.
Nasdaq100 make a boadering top pattern and the pattern busted just after the breakout. Usually, busted pattern perform well and could suprise.
The Dow make nice flag in 15 min scale, if it confirm by a breakout of 22400, this flag have the potential to go higher and reach up to 26000. Very rare that we can see that type of figure in play with a major index as Dow.
This senario could happen if the corona crissis coutinous at this rate level and no vaccin yet. We have all elements for structural correction as 1987 and 2008. Structural correction could reach 2/3 ration. See, the trendline supported from 1987 to 2008. Maybe we was in bubble since a long time ! how know !!
Nice pennant with long flagpole. The king dollard could be catapulted by this pattern. breakout above recent new high will confirm pattern.
Nasdaq is now in bearish territory, now waiting after pullback to the last uptrend line. It will be the best timing to manage yours position. After, it will be more difficul.t The down trend look like a structural correction as we saw at each 20 years. Theoric is that correction could reach 60% of the peak value market, mean close to 3200..
SP500 also made a classic formation ABCD as Dow and Nasdaq, but it's the only one with ABCD leg above of the old uptrend line in red. Curious to see if ABCD pattern will be enough to broke the last uptrend line. Let see what will happen.
Gold is very close of his last resistance level, let see what will happen next. My option is, the price will try one more time before pass thru, never two without three. All conditions are there for a potential gold rally.
DOW is making a classic formation ABCD. Wait after full confirmation mean new low. If it's happen, the price could fall close to 22000.
DOW broke a major uptrendline, let see if the next and older uptrendline will support the price. Broken the next uptrendline could mean that bull trend will be end.
WTI look like a mirror of itself, It's not often seen but here is seen the case. ICrude was pressurized down from corona virus but thing could change if spread continuous.
Gold is strongly supported by his uptrend line. Gold is just waited after lower Fed rate and when rate will fall negative, we will see major up breakout.
See all major uptrend and donwtrend lines from 2011. Will see if old uptrend line will support or not.
Nasdaq 100 with ABCD pattern in play. This leg have the potential to reverse the trend. If the price will pass thru the uptrend line support. Good probability that price will be toward to 7400.