I believe that the dollar is running out of gas after escaping a pennant which now is approaching the 272.
I believe that fib traders are waiting here and we will see some kind of reaction.
All fib based.
Equities are coming into an important 382 fib support if you draw a fib retrace from the covid low.
That support ranges from roughly 3700-3500 when I compare the wick to wick and the close retraces on this monthly timeframe.
That support range seems, to me, the likely place to expect buyers to come in as we head into 2023.
But If not, roughly 3200, where the...
With markets still worried about money becoming more expensive to borrow, and Bitcoin's
89 moving average (fib number) floating about 13K, there is a strong possible that we could see another crash..
I am basing the 10K number off the 618 fib. You can see price trying to break support at 382 now (20-18k).
Time will tell. I think buyers are getting in now and...
Equity's are at an important decision point where they are coming into a support at the 382 since the covid low..
I expect bulls to fight hard at this level as we form a falling wedge into support..
The volume is slowing; selling is slowing.
This does not mean that we will bounce for sure, but that there's a chance...
Perhaps this is a level to take a...
My bull bias is for gold going to 1890 has pretty much faded ...
I think that we could be seeing the next major fid below around 1760 getting hit
this is coming off a rejection from 1880.
bear move is becoming more and more likely by the second.
just an update from all the ball analysis that I put out
When I am wrong, I want to point it out.
I believe Gold is patiently waiting to squeeze upward towards 1890.
1850 being the fib level traders may be waiting for.
The parallel channel and the 89 sma (white) is my guide.
As well as the fibs plotted.
I am bullish on the price of gold to reach 1890 eventually...
We may need to retrace back into support, but from my point of view, Bulls have the volume to break to the 1272..
Bull extension is the target 1890...
There also is a parallel channel here that I have plotted to guide you..
I thought gold would be ready to go up by now but the resistance is still weighing on the price.
perhaps one more lower low and then we get to 1890.
Im doing this analysis on the fly. This market is tricky.
I think Boeing is oversold.
Purely technical play as $BA is seeing buy volume coming in -- right off the fib level shown.
Oscillators look well defined.
Stochastic may be showing a need of a retrace.
but I am watching for the fib support at 130 to hold.
Timing likely depends on overall market.