After months of consolidating and mean reverting between a strong support and resistance zone, gold has recently made new highs and broken from the strong resistance level (last time it was at this price level was 2012).
I would expect the next resistance to be around 1790-1800, which was a very strong resistance last time gold was at this level 8-9 years...
495-500 level proves to be a strong buy level and thus support, which it has bounced from in the past. (Outlined by green shaded line).
When Wheat is trending in one direction it typically remains within an upward or downward channel as you can see historically, as well as outlined by the shaded blue channel. As you can see, it has recently broken out of this...
Higher lows in recent swings show bullish consolidation and formation of an ascending triangle which could also be interpreted as a bull flag nearing the breakout zone.
This next test of a strong resistance around 1730 level will be very informative of the future direction of gold. I expect if price rejects this level a third time (triple top) it will break lower...
Could see a bounce from this channel support level.
Oversold on Stochastic. The past 3 times Stochastic has come off of oversold it has proven a good long trade (as shown by the blue vertical lines).
Still has strong fundamentals for the time being, going into earnings in a couple weeks.
Stop at $120, Target Profit at $132 means Risk/Reward of 1:3
Uber has formed a bullish ascending triangle and is sitting at a very strong resistance level at around 28.50 (solid blue line).
It is in breakout territory and if it passes this resistance it could mean a rally to test the 33.50 level then 40.50
A good risk/reward setup.
Yes, the underlying fundamentals are bleak at the moment...