After 2 weeks of pullback CLF is bouncing from the 100 EMA and the trendline. If oil continues the rally it's a good buy today.
Today we have the swing in place. Also the descending channel's trendline is broken. If this holds we could have a few day of bounce in gold. We broke below 03.28.2016 DCL but there was no follow through. Also volume is siging that we ran out of sellers. I would like to see a big volume with green candle today. That could support the pop idea. Also the RSI is...
I've found an interesting correlation between gold and EurUsd. Gold seems to be determined by the USD in the previous days. I'm watching especially the correlation between the most important currency pair (EurUsd) and gold. I think when EurUsd breaks out of the falling wedge next week , gold will also print a bounce up to the 50 EMA (4hrs chart) and maybe to the...
I'm still waiting for Eurusd-0.74% to print a DCL and a 4-5 days bounce in the following days. The purple trendline should hold as we are late in this daily cycle. So one more tag of the lower trendline of the wedge (and the purple trendline) and breakout should come with a 4-5 days bounce . Notice the divergencies...
The picture shows the intermediate decline in 2008-2009 after gold came out of the bear market and printed the first phase of its bull market. Little bit different. Not have to be exactly the same. Bear market ended in Nov.2008. Bull market started, initial rally Nov.2008-20.Feb.2009. After that came an intermediate decline . -The intermediate decline lasted for...
The Commitment of Traders report (COT) is published at the close of every Friday's trade and it always shows the Tuesday COT data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . The last Blees rating numbers (24) are showing that...
It seems to me that the daily cycle topped in the dollar. It's printing a bear flag and will break down soon. I'm waiting for a 6-7 days weak decline here. Indicators 10 & 20 EMA is crossing over. MACD- RSI divergencies Hard to tell where the DCL could be formed though.
I think yesterday we printed the DCL in EurUsd also. At the previous DCLs (red arrows) RSI always left oversold territory and TSI - sometimes MACD also- crossed over to the upside a little bit later. The same thing happened yesterday. I'm not waiting for this trendline to break down in the following 7-8 days I'm sure we will have a bounce from here. And after that...
Today price finally has broken the trendline with a nice rally. MACD is crossing over, RSI is heading to overbought territory, SlowStoch has a long time to go: we can rally for weeks from here. We are going to test the May 2015 highs soon. The only thing makes me a bit nervous: today's volume. It's a low volume. Based on this we might have a testback of the...
Here is my warplan on the 4 hrs chart for the next few days. First of all Monday is holiday in the USA so I dont expect too big volume or big things to happen tomorrow on the market. If some extra stuff is happening it will happen today. This is just the perfect date for gold to bounce on low volume for 4-5 days. If the US dollar is starting to weaken for a few...
Ths US Dollar Index ( DXY ) is printing a bull flag before the next resistance zone. Soon we will be testing again the 95-95.2 level. Maybe a breakthrough at FED minutes?
EurUsd decline is stopped at the trendline. Price is trying to print a pullback but it's just a trendline crawling... Sooner or later it will break down. Maybe tomorrow at the FED minutes?
I must notice the divergence between price and MACD - RSI . On the daily chart we almost tagged the 100 EMA. My original idea was the bounce from the 100 DEMA at the DCL. So I will give a chance to the bounce out from the DCL. In this case I suppose that the DCL was today and we will have a bounce up to 1240-50$. WE are simply too late in this daily cycle, and I...
If gold can stay here till the USA market open we have a good chance that we open with a gap and DUST could rally again today. Yesterday we broke out of the bottom with good volume , I would like to see some nice follow through today. I'm still missing that big day when we print a more than 20% rally in DUST with a panic and strong selloff in the miners. Maybe...
Day 42 in my cycle count. Very long cycle. After yesterday's monster decline we've arrived to the 2nd level - the end of 2nd wave- where the blue trendline, the April daily lows and the 100 EMA (daily EMA) is. We broke through the blue trendline, and attacking now the daily candle's lows of April at 1224$. I suggest patience here. All who covered some of the...
I was in NatGas for a few weeks. It seems topped a few days ago. Now it's heading into an intermediate decline as it broke the trendline. MACD turning down and TSI turning down (had crossed down also). For those who trapped here I think I would exit as the price is getting pulled back to 2.07-2.08. It's very volatile so I think there will be some kind of...
I 've found one more pattern which supports the short side : the green triangle. Triangles and pennants are continuation patterns in 90% of the cases. This one is in the 10% exception as it broke down and no to the upside. I dont find anything just retail trader sentiment that supports the long idea... The target counted from the triangle (purple line) is...
This Friday we had day 39 in the 4th daily cycle. It's quite a long daily cycle . We've reached the 1st level at the end of the 1st wave at the 50 EMA and the blue trendline. Next week we have to print a DCL with RSI oversold at or near to the 100 EMA. Bulls will have to face with the next big surprise: the blue area is not a bull flag. It's going to break down...