Woodcutter

Woodcutter Updated 

Levels of interest on the Renergen chart that is currently under pressure... will buyers step up? Short term head and shoulders has almost fully played out and last chance stretched to the tippy toe fib retracement time high to low approaching.

Woodcutter Updated 

Cfr has been under pressure along with the luxury segment and could reverse after filling the gap by dipping below 2000, which could act as a springboard for a recovery.

Woodcutter Updated 

Applying the principles of the classic Wyckoff Method: This is what will need to happen: After closing the gap at 1340 which acted as a strong magnet in the absence of positive share news, Renergen must now quickly move back above the trading range in order to confirm this move as a spring. The share may find support from the rising natgas prices and a weaker...

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FWB:SSW chart has similar divergences and candle pattern and if it moves similarly to the previous impulse could move to the top of the channel - note this would still a rebound wave with a larger downtrend until the channel is broken. macd is running very flat and expecting a big move some time soon. Note the gap fill area above 2700 has provide initial...

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Step nr one is regaining this channel it lost before the major capitulation, which it seems to have, but will have to close within the channel. Step nr 2 will be closing above the channel around the gap fill area of 1326 which could act as a support base. A hard road of higher highs and higher lows

Woodcutter Updated 

I am super bullish on AMEX:URA medium and long term but believe the share needs a pullback to back test the breakout, complete the wave 4 before going nuclear on wave 5. Note the divergence on the RSI - lower lows lower highs - and MacD flattening. I expect a fairly shallow pullback to the 0.38 Fib at $24.78

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There has been some stealth buying of the Rhodium etf, an etf with low liquidity, but someone has been very careful to keep a low profile . For a few days now there has been some gap ups. Today there is a breakout. No doubt this will be subject to volatility, but a breakout is a breakout. Let's see if it holds. This is a major aspect of Sibanye's profitability.

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Palladium has reached support and reversed at the intersection of the long term trend line and the 0.886 fib retrace. This is a tight market with a historical large amount of short positiosns so could experience a significant short covering rally.

Woodcutter Updated 

From false moves come fast moves. Symmetrical triangle had everyone fooled when it broke out and up only to reverse and break down with target of 610 reached. Could see an automatic rally B C move next to attempt to close upper gap. Any movement into the lower demand band below usually triggers rallies. There is a gap below at 520 but it remains to be seen if...

Woodcutter Updated 

My best effort with regard to thinking out of the box with regard to this challenging chart. This chart shows a steep ABC correction after a slightly truncated 12345 upward impulse wave. The chart has now returned to gap fill between 2688 and 2580. This area coincides with the 0.786 retracement at 2636. If there is no meaningful bounce a head and shoulder top...

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Weekly is quite oversold so I expect a B wave bounce into $125 to $130 range. But divergence is still negative on the RSI which means CFR could be heading to the bottom of the channel. Gap fill 98 to 100 could provide support.

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Taking another stab at Nio this time by looking at the monthly chart .... According to Investopedia a Falling Wedge "occurs when a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move. The trend lines drawn above the highs and below the lows on the price chart pattern can converge as the price slide...

Woodcutter Updated 

$Nio possible rounded bottom pattern. Volume following pattern so far. Character of the share has changed .... jagged chart giving way short term to a more curved appearance.

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$cfr is trading above its long term channel it has respected since 2007. Last time it flew above this channel its wings melted. The RSI and Moneyflow indicators show that strength is leaking out of this share. Investors are securing profits. This is a quality share with a strong outlook but may return to former support around CHF 127 to consolidate. Not a good...

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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

Woodcutter Updated 

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.

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$dsy $mtls $trmb $mtls

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$STMN $RSW $PTX $XONE all high uo on the list