KingdomRichOffical

KingdomRichOffical

June closed down -37% from its open not pulling back much. July is already setting up for a lower move as the impulse move hasn't slowed.

KingdomRichOffical

Bitcoin saw just over a 20% rally in price on Saturday (10/26) with massive conviction. Only to finish the day +6.83%, giving up +13.17%. This concluded as a massive sign of weakness, while alluring bulls to load in. Since then Bitcoin has been logged between $9600 and $9100. We fear the correction may not be over, and further downside a possibility. According...

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EUR/USD moved lower by -94 pips last week, to complete a completed correction a short 4 Hour correction, looking to rally higher. The EUR/USD had an impulsive rally; falling short of the $1.12 target. We may see this level come to fruition as last week's pullback solidified off of $1.075 as support. We believe we will see a rally to $1.12 and beyond within the...

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Analyzing the DAX 30 we’ve seen similar reactions in the American and British indexes. According to market reports, the E.U. is bullish on a unified stance on a BREXIT extension until January 31st. The British Prime Minister is in the trenches trying to fight this, but The E.U. are optimistic. The DAX 30 rallied just shy of +2.00% last week on positive...

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The S&P 500 has been driven higher on solid earnings numbers in the U.S. With the week finishing with no heavy geopolitical headlines (at least in the U.S.) we’ve seen the S&P 500 push higher to stay above it's all time highs. We are indeed watching the forming of another rising wedge pattern on this market as it has impulsively pushed higher. Last week saw a...

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Oil has continued to move higher as inventories were down in the last Crude Oil Inventory report. The next data release (10/30) is being forecasted at 729 thousand barrels. Oil prices have been sporadic this month between the Saudi Arabian attack and the Iranian oil tanker attack, throwing analysts off this month. On the technical analysis front, Oil saw a +5.30...

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We see Gold continuing to move lower this week on a risk-on environment. Investors have taken the BREXIT delays along with low static on the U.S./China front as a positive outlook. Gold closed last week higher just shy of +1% (+0.94%) due to the conclusion on BREXIT uncertainty, however, that all has changed. Friday we saw a high touch candle, moving out of our...

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After it’s -18% drop, Bitcoin has stayed within a tight range of play. Last week, Bitcoin saw a less than -1% move, and Friday, only a tiny -0.08% close. Sunday’s close saw a +2.68% pop up above our shorter-term Bull Flag. We may see Bitcoin bounce between $8,180 and $8,300 before its continuation up to $8,600. However, on the flip side if we see an aggressive...

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The EUR/USD saw a full +1.20% rally for the week, which is a pretty large move in currencies. This is as expected off the back of the positive BREXIT momentum. Some analysts are saying that the U.K. should exit as soon as possible as they could potentially make negotiations worse leading to a more favorable deal for the European Union. Over the weekend we saw...

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A favorable response out of Germany in the last few weeks to the economic and geopolitical data leading news headlines. The German Dax rallied a full +2.38% on the week before settling up +1.42%. This is off the back of comforting U.S. - China trade negotiations looking up. As a major exporter, Germany will benefit massively from a favorable deal between the two...

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The S&P 500 finished up +18.8 points on the week after reactions to U.S./China news, BREXIT grief, and the start of earnings season. Week 41 saw a -2% move and over -3% down week 40, however, it finished strong Week 42, up +20.2 points. Although it did not move back down to the $2850.00 level we did see bounce off $2,890 (just $40 off our initial call) to hit...

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Oil continues to stay range bound finishing the week down -2.17%. This is on the back of economic reports of a shrinking Chinese Economy and it’s consumption of Oil going down. Analyst measured China’s economy shrinking by 6% year to year in Q3, making Oil market participants slightly pessimistic on it’s move higher. From a technical perspective, Oil squeezed out...

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With Risk-On in most major markets (U.S., U.K., and the E.U.) we have seen Gold consolidate. With the mix of global macro news, Gold may remain consolidated in the coming weeks, bar any negative outcomes. Gold finished last week at +0.1%, highlighting its strong indecision. We’ve traded below the $1,500.00 range for the last 5 trading days as well, showing...

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After losing over -18% BITCOIN consolidated for 13 days before breaking upwards per the Bullish Flag Pattern extension playing forward. We saw a slow market last week as Bitcoin moved up +5.00% and down -4.00% to close at -2.39% for the week at $7859.79. Our expectations are for it to rally up to the top of the Bull Flag Pattern between $9500 and $9600 with a...

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The EUR/USD outlook remains fairly untouched, as we are still within the Falling Wedge Pattern (a bullish system.) The Euro closed up +0.35% against the US Dollar Friday, creating a bullish Low Test Candle, another indication of upward movement. With BREXIT and U.S.-Chinese negotiations going on we will see what catalyst will drive the price of the Euro higher....

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As we expected the DAX 30 completed its Bearish Flag Pattern breaking lower last Tuesday, October 1st below the bottom trend line of the pattern. This was on the back of the “not-so-spicy” BREXIT deal made by the U.K. Prime Minister, and Parliaments enraged responses to him as well. The offer made to the Euro was underwhelmingly received, the Parliament feel that...

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S&P 500 had a volatile week last week, opening under $3,000.00 and moving down to $2,853 falling down over -3.00% on the week, before popping higher on positive unemployment numbers. Even though the job market increased by +136,000, it still missed market estimates. However, this number keeps the Fed’s plan in place to cut rates, which investors view as good news...

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Another commodity affected by the geopolitical climate is Oil. We have seen 13 consecutive negative days in the Oil market until Friday’s bullish close +1.34%. Needless to say, we still have a saw a negative close on the week down -5.68% at $53.05. We are watching the geopolitical environment as BREXIT and the U.S. - China Trade War way in on the Oil market. In...