Without further comments...
Presenting without further comments...
A simple Wykoff Analysis shows that target has been reached. With current COT data on Gold I am rather expecting a test of 16-17 region than further gains.
SPY in Yen shows a frightening correlation between JPY, Nikkei and S&P 500. But with JPYUSD rather going back to 116-118 Region before further consolidation, it is likely that S&P February Rally is not yet finished. Upward potential maybe till 2100-2120.
Next strong support levels are 1190, 1160, 1140...
The long awaited correction seems to be starting. From P&F charts the target for a small correction is in the range of 1160. For a full correction 1020... US$. Considering the recent COT data it might be reasonable to think about a full correction. Sorry perma-bulls....
Nice Head and Sholders Formation in XAUXCU. XAUUSD should follow soon... CB influendced Markets semm to be short living (I hope)...
I really love our free markets where price discovery is only influenced by supply and demand issues and not by CB decisions... But CB's decisions (how did JY say) are always TRANSITORY.... And GAPS will be closed...
One of my favourite Indicators is the DXY weighted S&P 500... A few striking things: a) dxy weighted S&P follows HYG/JNK b) follows ED futures (net long) c) is in a downward channel since Aug 2014 Since Aug 2014 1400 (unleveraged) easy points...
NGAS showing a continuation pattern with a target till 1.81 (23.6% retracement of Jan high).
In a few weeks from a bullish pennant to a bearish rising wedge. Something for the Textbooks. Actions predifinded by fibo time zone. Orange 3 from Oct high to Dec low...We are now facing the second Pitchfork midline resistance test!!! Guess it will not hold.
Gold against a currency basket just completed a Head & Shoulders Formation. Support line broken (blue)... Expecting correction till at least 825-830. I would appreciate some bit more to get a little bit steam out, but....
Sorry to disturb the bulish feeling, but it is alwasy reasonable to check Gold against a currency basket and not just US$. We are now in timerange and pricerange as I suggested last autumn. We had a high volume surge we haven't seen since 2011 and the bullish feeling people have is certainly justified! BUT as a perma Gold bull I also learned to be realistic. We...
Current Bull-Bear Fight in Gold is being decided by JPYUSD exchange rate...
1) Tom's ED indicator is showing a major movement in next day's 2) Tripple Witching day 18.3 and we need to expect movements prior to options expiration 3) At upper resistance a bearish Gartle formation is formed 3) We haven't been so overbought since years...
Commercials positioning uncorrelated to current price... Just hitting double bottom. Expecting similar upward movement as during Dec/Jan.
RSI getting extreme... Stochastics generating sell signal. Target price at 1176.