I published a Gold's road-map in 25 Aug and I will keep my road-map because Gold price actions are still respecting my bullish continuation channel (Pitchfork).
1. From 16 Sept to 29 Sept will be the key in Gold: FOMC, Brexit and other major economic prospects. ( YES, I will update and modify my road-map if FOMC...
Fundamental analysis: Remaining so bullish as long as my new Fib channel is not broken. (lower low daily candle below 1904-1909)
1. Equities market (US, Dax and Nikkei Indexes) will reach to theirs higher targets soon before the Q3 2020 review.
2. All markets now are correlated, a dramatic drop in Gold at the end of this month will not be positive for equities...
As we have seen the new Fib chanel is still valid. Since I've observed the last two super bearish days, the sellers did not break below 1919 and did not create a lower low in daily timeframe. I expect a pullback and retest the resistance at 1956 - 1963 and a daily candle closes above 1963 will set up for a new bullish trend to 2100 soon in next several weeks....
It is likely that SXP will break its bearish trend with the double bottoms shape.
Good signs: XAU/ XAG, equity markets and BTC are holding and keeping its bullish momentum.
Alligator indicators are expected to see the crossover between the Jaw and Lip Lines, which will show the bullish trend.
Drawback: BTC remains consolidation and keep its...
Gold would continue to retest the resistance area (1948 - 1980)?
Fundamental analysis: DXY dump seems still a factor, but what I am looking for now that all equity market from Asian to USA have shown some signals to surge. We did see the same price action in all equity market + Silver + Gold and Bitcoin, they are so correlated to hold theirs support zone....
After the a nice re bounce from the supporting zone (below 2.0), Natural Gas formed the double bottom pattern, thus I am looking for the consolidation and re-enter the market.
Market Structure: Bullish trend
Time frame: Daily trend, a nice retracement to Fib 61.8 level.
Entry point: around 2.20 - 2.22 zone.
Exit: below 1.98 level.
Target: 2.6 -2.7 ( next...
Bias: Bullish trend will continue, however it matters where we can see the entry point for a long position.
1. As mentioned in previous chart updates, we have been in a bullish trend, HH and LL. More than that, I am not surprised that the price action is really well respecting the EMA 200 days, except for many bad or good news of oil price. ( A myth is that Oil...
USD/CAD is clearly in the bearish trend last week. The issue here is that how many times the price will retest this level of support? Double bottom or even triple? Or it could break up and continue to fill up the gap down?
1. Well-respected the bearish trendy line and EMA 20/25, lower high and lower low?
2. Gap down is nearly filled up?
3. This level is...