H&S hasn't been broken yet, and this is currently in accordance with the throwback for a regular H&S. If XLK moves sideways instead of straight down next week, then there's the possibility that this is a failed H&S and further upside could be anticipated.
I see a descending triangle. These are the paths for both the bearish and the bullish continuation that we might see next week. Red = Bullish Blue = Bearish
Trend is certainly down, though I remain bullish on my GDX chart, the commodity is pointing towards potential lower. Many targets have been thrown out there so I have 3 of my own. We currently are inside one of my old targets so I'll label this Target 1 1215: Target 1 1198: Target 2 1183: Target 3
We hit my final E in the descending triangle. I expect us to rise and chop sideways for a while, perhaps forming an inverse H&S then flag out (handle) and then break out. If you were ever to take a bet on gold, this may be the ideal opportunity. Though I'm unsure how earnings next week will play into this equation.
I've drawn out what I expect for the Falling Wedge pattern. The Bear flag Will conclude at the same place, just get there faster.
Looks to be an ascending wedge. Measured move, target, predicted price path, Divergences, and fib levels included. This week's Biotech Sector Video Analysis: www.youtube.com
The previous low was either the ultimate bottom and we're coming in on a higher low, or I can also see us traveling all the way down to the previous low to form a bit of a double bottom. However, I find the higher low speculation a bit more justified. This week's Natural Gas Video: www.youtube.com
Looking bearish unfortunately. This week's video analysis on Miners: www.youtube.com This week's video analysis on Gold: www.youtube.com
2 Price Predictions: Could complete the descending triangle which would be short term bearish . Or could be turning into a symmetrical triangle because it's been supported by the 2 year support twice now which would be short term bullish . Both conclude in the same direction in my humble opinion. This week's Video Analysis: www.youtube.com
Goal is not to be correct, goal is to be prepared. There's evidence of 3 predicted price paths as far as I can see. Descending bullish triangle would lead to upside and would give evidence that this is the 4th (corrective) wave in the elliot wave and complete an ABCDE before the final 5th wave. ( Bull ) Flag pattern would lead to downside in the near term before...
Short/Medium term pattern I see is a symmetrical triangle. We're breaking down currently but will be interested to see how the price action goes as this support and resistance range tightens. Could be a bullish or bearish symmetrical triangle but I'm leaning towards a bullish setup. This week's Video Analysis: www.youtube.com
We broke some old resistance lines and formed some new ones. Thinking we've got further to fall in the short term with medium to longer term bullish bias. Predicted price path next week in the chart marked by thin blue arrows. This week's video analysis: www.youtube.com
Seems like a pretty well defined channel. Previous two bullish runs ended at the start of the breakdown. I propose the same will happen this time. However, the previous two runs also touched the upper black resistance line on higher time frames so I have 2 sell targets posted and a hypothetical price path. This week's Video Analysis: www.youtube.com
Technology, like semiconductors are seeing continued weakness with a plunge that's different from all the previous minor corrections that we've seen over the year. Apple continues to bring the parade down. Here's my two predicted price paths for this technology ETF next week. I believe we may be experiencing a Head and shoulders This week's Video Analysis: www.youtube.com
Semiconductors are still weak for several reasons though right here might be a decent accumulation zone. SOXL has been one of the strongest 3x ETF performers this year but we're seeing some serious topping action currently with may appear to be a head and shoulders top. Here's this weeks video for SOXL: www.youtube.com
Seems like a pretty well defined channel. Previous two bullish runs ended at the start of the breakdown. I propose the same will happen this time. However, the previous two runs also touched the upper black resistance line on higher time frames so I have 2 sell targets posted and a hypothetical price path.
We broke some old resistance lines and formed some new ones. Thinking we've got further to fall in the short term with medium to longer term bullish bias