There appears to be an error on this chart for 26th April data.
On the natural gas futures chart, a well formed Head and Shoulders pattern since 20th April
I'm looking to short with an initial 40 point target.
Stops above today's upwards spike after the FOMC announcement (on this chart it is 2160)
Looking on a long term perspective of gold (the longest obtainable on the charts).
We've done a full 50% retracement of the entire historical gold bull market, going back 15 years.
Was that enough to to give us a low, at least for the next coming years ?
Given the crisis in US equities so far in 2016 and the Deutsche bank news of a 10% increase on CDS prices hitting European equities, everyone seems to be flocking to buy gold ! Understandably with all the risk seeming to be placed in the equity markets, investors appear to be flooding to the comparative safe haven ...
In general I am bearish on oil, however if we breakout of this short term downward flag, I'd be interested in buying any retest of the top of the channel. I will only go long if we breakout and confirm above the channel.
Since the early January selloff, we appear to be ranging into a tighter triangle consolidation pattern
Based on the assumption that the 0.236 Fib retracement support level will hold on Monday, I'd be looking for longs anywhere from 1871.8 (0.236 Fib) to 1881 (Fridays close), with a target of around 1900. Ideally ...
We've hit the 50% retracement level of the December/January swing low.
Throughout the US session it was bullish, and the bulls tried hard to break the 50% level at the close, but were unable, and significant volume drove us back from 1945.8 (50% level) to close at 1938.1
I'd be interested in shorts, with a stop ...
The end of the Month rally of Friday, took us to just above the 50% retracement level of the entire January sell off, and just below the 50% retracement level of Decembers swing high.
A new month and a new week has seen some profit taking, as we have moved down the channel shown here
Since US market open we have ...