We reached the previous breakdown price and with the increase in volume signifies that there are some distribution across 220-210. At this level, we are looking at a fairly low risk trade with the potential for swing trade down.
I will be SELLING at 2 levels.
First SELL position: 211-208
Second SELL position: if price < 190
- Might see Oil prices reaching 58 area before continuing its uptrend
- Looking forward to build the first poisition around 58 and another position if it manage to break 60
- Bear in mind also any news that could cause price to spike up/down
- After having a good run in 2019, seems like Gold's momentum is continuing in 2020
- Iran and US tension had cause Gold price to spike but quickly came back down
But is it really OVER !?
From technical analysis point of view:-
- Gold is having a healthy pullback apart from the spike during the start of the week
- 0.618 Fib level should be a good support area
Looking for mid-term BUY on GDX, fullfilling a few criterias
- Supply drying up on the second bottom and notice some DEMAND coming up
- Bullish Engulfing Pattern
- My Trading Indicator signals a buy above 26.52
- Some strength seen on GBP and change on a short term trend
- A cup and handle formation if price manage to break 1.25222
- The entry now has a lower risk since price is supported by the trend line
- The final target price is around 1.298
- In my previous analysis, I did mention that ETH's price would not be able pass through 185 , the selling had just taken a pause for now
- Now there is an uprising trend channel but the buying isnt strong enough hence the worst case scenario is that it is a pending bear flag waiting for breaking down as bear flags are continuation pattern
- As highlighted in the...
- Formed a H&S pattern and break through the neckline
- With a large gap to fill, price is likely to go down
- Looking at the supply candles, seems like there are people who already shorted at that level
- The Head & Shoulder pattern was invalidated due to selloff on US markets and pushed GOLD prices higher
- In my previous analysis, I did mentioned that GOLD is still bullish on long term although it had invalidated the H&S pattern
- Lets see whether GOLD can break the 1520 area or follow the trend channel and retrace to around 1440
Scenario A: Bullish Flag...
- With the main KLCI index hovering at support over the past few weeks, only Tech index remain strong and resillient
- There are strength in the Tech sector
- Choose stocks with strength and trending upwards such as Frontkn, Inari, Penta
KLCI index have a low beta compare to other indexes in the world, as negative sentiment affecting the world markets might not be as impactful to KLCI but do note that KLCI is a critical level, anything below 1572 we will likely go back to find support at 1500.
- Reduce the number of stocks in your portfoilio until we see some buying back in the...
- After today's drop to the neckline, a Head and Shoulder formation had formed.
- Short term trend is reversed as the index is unable to achieve a Higher High and broke down below the uptrend.
- If the index break down below the neckline, we should see the index heading towards 2900 (measurement based on the H's height)
- Be prepared to short it but wait for...