GDX has printed a Death Cross (MA50 crossing below the MA200) on a similar trading pattern as in 2016. The RSI price sequence is also identical, indicating that at least one more bearish sequence is due. With MACD turning at -0.277, it is an optimal opportunity to short. Our TP is 19.00. ** If you like our free content follow our profile...
Regardless of the fundamentals that are dominating the global economic scene (trade wars), there is an interesting long term, and rather cyclical from the looks of it, pattern developing on the U.S. Government Bonds 10 YR Yield. The pattern is a declining Head and Shoulders formation on 1W. The last two times that the same pattern emerged (in 2017 and in 2015 -...
The pair is trading on a year long 1W Descending Triangle with clear Lower Highs that provided optimal sell entries throughout 2019. We are currently on such a Lower High and with 1W neutral (RSI = 52.272, STOCH = 45.628, Williams = -46.569, Highs/Lows = 0.0000) we are targeting the top of the 1D Support zone (TP = 25.62400). Notice how a 1D Higher High sequence...
The pair is trading within a strong 1D Channel Down (RSI = 34.726, MACD = -0.120, Highs/Lows = -0.0831) for the past month. Currently the Lower High zone holds (red rectangle) and should push the price towards a new Lower Low at 12.350. If 12.630 however breaks it will give a medium term bullish reversal signal and we will target the 12.800 1D Resistance. **...
The iShares MSCI Emerging Markets ETF (EEM) is on bearish 1W price action (RSI = 41.481, Highs/Lows = -1.8644), repeating a pattern last seen in April 2011 - May 2012. During that period the price was rejected at 44.90, crossed below the MA50 and MA200 and found support just over the 0.786 Fibonacci level before recovering 100%. We expect a similar price behavior...
The pair has just been rejected for the 3rd time since April 22nd on the 1.12650 4H Resistance. Despite still being bullish (though on some neutral bias such as STOCH = 52.12, ADX = 22.367, Highs/Lows: 0.0000), the price may establish this as a Triple Top rejection pattern. Our TP is 1.11800. If the 4H Resistance breaks, we will add a last short on the 1.13250 1D...
The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200. ** If you like our free content follow our profile...
The index is approaching the 20,970 1W Support creating optimal conditions for a long term buy towards the 23,000 Resistance. Nikkei is on an uptrend since the December bottom (1M MACD = 405.550, RSI = 50.348) and only a breach of the 20,360 Support can distress that. The Golden Cross (MA50 over MA200) may come later to confirm that. We are long on NI225 with TP =...
The Base Metals market is reproducing a pattern that led to its 11.00 Multi Year Monthly Support in 2016. The formation starts with an aggressive channeled rise from the Support, continues with a Head and Shoulders and ends with a structured decline towards the 11.00 Support again. We appear to be forming the right shoulder of the new H&S pattern so what should...
The pair is trading inside a 1D Channel Up (RSI = 65.836, MACD = 0.002, Highs/Lows = 0.0038). After breaking through the 1.36150 Resistance, which is now essentially its support, it should aim for the next sell accumulation point a 1.37450. We are long to that point. ** If you like our free content follow our profile (www.tradingview.com) to get more daily...
This is purely a Fibonacci estimate. If the 0.236 Fibonacci level breaks (7,050) then Bitcoin should target the next retracement level, which is the 0.382. From the 19,700 All Time High to the 3,150 bottom, this is approximately 9,500. The supporting line of the previous bull run (2016/ 2017) may provide some Resistance along the way but the current 1D Higher Low...
Natural Gas is contained within the neckline of the right shoulder of the 1W Head and Shoulders pattern that peaked last November (2018). The RSI on 1D is now approaching the 53.3800 level which has rejected any upside possibilities in the previous 3 times. We are expecting a similar development and target 2.400. ** If you like our free content follow our...
Copper is on a standard 1D bearish sequence (RSI = 39.990, MACD = -0.034, Highs/Lows = -0.0234) that has just (marginally) crossed the 2.74170 Support. With the RSI however approaching the 32.800 mark, a bullish reversal alert is triggered as the last 4 times that the price bounced near or just below this mark, Copper gained +7 to +8%. Assuming that happens now we...
This ETF is on a bearish reversal following its April All Time High. 1D has turned bearish (RSI = 42.019, Highs/Lows = -3.1729, ADX = 32.374) and since it just crossed (though marginally for the moment) the 1D MA50, we are to ring some alarms for further bearish potential. A similar RSI pattern was performed in January - February 2018. After a new (then) All Time...
The market dominance of Bitcoin is at a 2019 High having reached the 2018 Highs this week. With the RSI breaking over 70.000 it has completed a cup formation a relief consolidation is expected. The alt market dominance is past its 2018 Lows approaching the 2017 levels. The equilibrium of the two market dominance markers is close to be achieved and since April...
CAC is quite strangely printing on the big 1W/1M time frames a similar trading pattern with the early - mid 90s. The MA50/200 sequence is identical within a Channel Up with two distinct peaks that broke the Channel momentarily before testing again the supporting trend line. What stands out in particular is the +46.50% rebound from the first Higher Low on both...
FTSE 100 is close to complete the -5.30% decline after being rejected on the Lower High of the 1W Channel Down (RSI = 49.506, Highs/Lows = 0.0000). The Golden Cross (MA50 over MA200) on 1D was the signal both on the Lower High and the one on the late May 2018 All Time High. 1D is fully bearish (RSI = 33.998, MACD = -8.850, Highs/Lows = -159.7305) even oversold on...
The pair is trading within a 1W Channel Up (RSI = 71.320, MACD = 0.168, Highs/Lows = 0.2551) since the start of the year. Recently a new aggressive bullish leg has been initiated on 1D (RSI = 70.181) which aims at a new Higher High for the Channel within 13.2000 - 13.3000. Note that the very same 1W Channel Up was traded from September 2017 - April 2018. **...