gold drops 20 dollars on a .3 move by DXY but hardly recovers as DXY doesnt even touch resistance before getting tired. that would suggest the move by gold was predetermined and not inverse the dollar. We also see markets opening red for the third consecutive day where analysts claim gold is not a "safe haven" yet the dollar isnt entirely bullish either. Oil is...
i personally see volume drying up while approaching resistance although the corporate update on Wednesday may give it a boost
with bearish divergence. three crows a return within the trend line i would predict a reversal to no less than .50% fib @ 4.12
moves past resistance towards .5 retrace activates H and S / C and H... 2.80 TP
No emotions just trades! significant divergence red engulfing candle, large price drop w little reaction to stochastic indicating huge drop ahead, 3.50-2.50 TP
After reaching .786 we see the price break out of the descending wedge and already challenging the resistance at 2.30 range. We also see the first through third wave in this retrace. Still in the third wave we should continue to the 2.50 area take a break then return to the 2.75 range where we would then correct find support and continue our bullish trajectory.
price has touched lower channel support while reaching .618 fib. also oversold on all time frames and is seeing divergence in the 1hr
in 20 years the RSI has only been this oversold 4x !! whether retail short are ready to except this or not a reversal is at hand
.38 .88 1.61 .61 adds 100% gain by April on the weekly chart
AUY seems to have formed a base at key support of 2.40 from here we could see the beginning of a new bullish wave cycle
Ekso is poised for a bearish butterfly while creating a channel of bullish trajectory
the short term outlook here is a double top at 20. then a return to the 9 dollar range 2021-2020
prices could return to 40s-30s in 2021-2022. Volatile sideways trend until then.
just an idea based on patterns and harmony DXY does however indicate a bull run through the summer of 2019 which does support this idea. i do see gold returning to 1180 in the near term
EW probability. EOY direction. is what it is. just my thoughts.