It will be interesting to watch what happens next ... after bouncing off the 200 ma as support can the SPX now clear the 50 day MA and start a new uptrend ....? Or will this be the prelude to a waterfall as in the 1970'S
Upward momentum in the USD seems to be waning. Divergences in the RSI and Money Flow Index and a possible rising wedge would indicate a topping pattern which could result in a break of the steep upward channel. Near term the USDzar could trade in a more rangebound horizontal pattern.
Has been steadily breaking out if this not too pretty inverted head and shoulder formation. After that the real work begins to get past the base constructed since the slump of 2014. This could still be a bumpy road, perhaps even see construction of another shoulder before eventual break out. For now on its way to its target of 12.38
$Gild is on crucial support after failing to clear the $84 channel with a double top breakdown in May. There is strong support at $72 which has been tested multiple times going back to 2017, but a further break below 72 may now provide another ticket to ride back towards the bottom of the horizontal channel to its long term support at $62. Strangely its Covid...
