Bullish sentiment weakening. short the break of bullish trend line. TP is safe and modest right next to recent lows. Risk/Reward reasonable
Multiple approaches: 1) Short the break. 2) OR wait for consolidation of the new resistance after the break (safe) 3) short when 0.77071 (before or after breakout - high ...
Double top at 46.5 sends oil down, triggered by Saudi oil production freeze deal high probability of failure. From elliot perspective this could be described as impulse wave 1, assuming this is wave one, the retracement is likely to occur at 0.5 fib of the move, given the oversold RSI on the 60m chart, we are ...
MACD cross over and oversold RSI at strong support level at 1300-1310. along with inverse head and shoulder pattern forming. Expecting a move to 1380 minimum if pattern is completed, especially with uncertainty in risky assets.
Positive divergence spotted on all 3 indicators + near Fibonacci and support cluster. + inverse H&S spotted on MACD 1H tf, expecting pullback to at least 0.786, quick long position will be closed at that point, then will wait for golden fib 0.618 which coincides with key level (44.6-44.7) and hopefully short it to ...
Bull harmonic price pattern. Oversold indicators + support holding. Also I'm bearish on stocks, Gold tends to go in opposite direction, in that sense there is more weight to the evidence.
It's likely to go higher than that so we will see how it plays out and find another entry.
I'm not convinced by this bull run. I think stocks are overvalued overall and the fundamentals are weak. I believe this month and/or next month will be a very bearish one. Honestly I expect to see a full crash sometime very soon. But I won't call the top without sufficient evidence.
Short-covering bull run almost over. Waiting for high to short the possible reversal. Will look out for negative divergence (price vs. RSI) to support the short decision. Will review if/when price reaches action point.
Strong resistance in the 1 day chart triangle + pre-brexit high resistance. + Overbought conditions.price breaks the up trend hold on. + Bearish US jobs data.
watch out for Q.E. threats and government intervention along the way.
TP will vary based on when the trend line is breached, and condition of technicals ...