Gold has had a nice rally since the bottom.
About time it takes a breather from its non-stop rage.
I will enter short @ 1121, 1123 and 1125.
Aiming for TP approx 1190 and further possible retrace to 1180.
Dollar has reached a significant resistance area represented by the neutral Gann line drawn from the 2001 top.
Expect the dollar to make a failed yearly cycle which opens the door to the 50 % Fib retracement level and below. Dollar will most likely make its top a blow-off one next week, perhaps to the 104-level but ...
Gold should be preparing for its journey up.
It is common to have aggressive cycles out of intermediate cycle lows. This has been severe - showing levels of oversold not seen in a very long time.
Be aware of high volatility on NFP. Take precautions as there can come violent spikes the opposite direction of the ...
I believe that Natural Gas is in a strong corrective move upwards. It is trying to join the uptrend again. However, it has not completed its total correctional move yet and should re-visit the 2-area since it forgot to do so in its rush on the way up.
Reached key Gann resistance area and have reversed above the historical support key level of 1180. A weekly close above 1180 support bullish movement.
Gold is oversold and has had gold bugs throwing up their gold.
Now gold will start to move to make them want to have all their positions back.
Golden Ocean has managed to get above a previous tough resistance zone and attempted to break out further.
The first attempt failed.
So far have GOGL managed to stay above the previous resistance zone at about 4.
Baltic Dry Index has rallied more than 300 % since its bottom while GOGL has "only" rallied about 67 % ...
EWZ is still in a corrective structure - in its B-leg up. This can be rode down.
The C leg down have the potential of being brutal. Target 29 or upper 26-zone. I suspect we will have a quick trip to 26.7 zone but I suspect we won't reach that far.
EUR/USD can have completed a long-lasting structural pattern similar to the one completed at the beginning of the millennium.
I know that many could interpret this as a bear-flag pattern. However, I think the pattern may surprise the market and the Euro breaks to the upside.