Gold has broken a few levels of support last week and tested first resistance (red line) and gave a small rejection. I expect Gold now to retrace to test recent support (green line) for some more buyers to enter the market before aiming for the daily 200EMA.
$1240 to $1250 will be the hardest to break but if can break through then it could be the start of a...
Once again price is testing the upper resistance trendline (red) of this bearish channel which started back in June. Yesterday we closed the gap (circled).
This is also a weekly resistance level so it is likely we could have a very nice short opportunity here with a target of the lower supportive trendline (green) around the 0.90500 price level.
We did get some...
As you can see from the daily chart, Bitcoin has reached a turning point. Solid long-term support from below and at the end of a wedge formation. Any day now Bitcoin will have to make a decision and I expect it to be the start of the next bull run for Bitcoin and Crypto as a whole.
Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you...
Last week price rallied to major resistance and, again, gave a sharp rejection. This week, so far, we have retested support from the supportive price area (green line) and the weekly 55EMA. Price is once again stuck within these ranging levels (between the red and green lines).
I am bullish on this pair BUT I am staying out of this market until a Brexit deal...
GBP/USD is currently in a broadening wedge formation. On Friday, price retested the daily 200EMA and, again, was rejected. Next test of support will be the 13EMA (blue line) which I feel will hold.
I recommend staying out of the GBP market due to the Brexit outcome potentially being released this week. This market will be high volatility, high risk and high...
Last week we seen a strong selloff (due to strength of JPY not weakness of CAD) but towards the end of the week we found support from below. Looking at the chart you can see we are trading within a rising channel with the middle trend-line aligning with the daily 200EMA. I believe we will find support here and give us a, what I call, a "double-bounce"; meaning...
Last week the S&P500 had a large selloff but as you can see it gave a perfect bounce off the 55EMA level and shown some rejection. This is a great buying opportunity. I expect the S&P500 to continue to make all-time-highs until early March 2019.
ETH/USD has tested this level ($150-$200) in the past many times and is doing so again. I feel this area is a buying opportunity and it's only a matter of time until Crypto has another bull run. This long downtrend was to be expected and shouldn't be a surprise. Like any other market, price has to come back down and reset technical indicators and support levels...
