LOOKING AT THE DAILY GRAPH OF WHEAT, WE SEE A POSITIVE DIVERGENCE AND A POSSIBLE LONG POSITION CAN BE TRIED FROM 550 (SUPPORT) AREA WITH A T/P AT 578 AREA.
TRIX BEING TOO LOW CAN BE AN ADDITIONAL CONFIDENCE FOR THIS POSITION.
S/L SHOULD BE AREOUND 545 AREA.
BASED ON THE OUTLOOK OF 4 HOUR GRAPH AND THEN LOOKING AT THE 15 MIN GRAPH A POSSIBLE LONG POSITION CAN BE TAKEN INTO ACCOUNT FOR EUR/USD FROM 1.3465-1.3470 AREA WITH A T/P AT 1.3500.
THE PAIR SHOW A REALLY LOW ON 4 HOUR RSI AND A POSITIVE RSI DIVERGENCE ON THE 15 MIN CHART.
S/L SHOULD BE AROUND 1.3448 AREA.
IN THE SHORT TERM GRAPH THE DAX (GER30) INDEX SHOWS A POSITIVE RSI DIVERGENCE AND WE MAY SEE A BOUNCE TO THE UPSIDE EARLY THIS WEEK.
THE ONES LOOKING FOR AN LONG OPPORTUNITY MAY LOOK FOR A BREAK OF UPPER TRENDLINE BREAK FOR A LONG ENTRY.
the 1850 area might be the top in SP500 index.
the target would be 1790 area,
the stop loss would be 1855-1860 area on the daily chart.
but to make this trade a goal, the index should first break 1820 area to the downside.
even tough it seems a little bit doubtful, we may be seeing a long move to 590 area in wheat,
the bottom might be in 560 area, so the stops should be placed around 550-555 area.
RSI also shows positive divergence, which may also be an additional positive proof...
sugar might have bottomed in 15.10 area and might be willing to make a move to 16.45-16.50 area.
taking a look at RSI we will also see a positive divergence.
stop should be placed around 14.95 area just in case we're wrong….
IF GOLD CAN BREAK 1248 AREA TO THE UPSIDE FIRST TARGET WILL BE 1258 THEN 1278 AREA,
IF GOLD CAN BREAK 1218 AREA TO THE DOWNSIDE FIRST TARGET IS 1196 THEN 1180.
RSI IS HIGH SO ON AN UP MOVE WATCH FOR A DIVERGENCE TO GET SHORT NEAR 1261-78.
1211-12 AREA IS CRITICAL FOR GOLD.
IF IT CAN HOLD ABOVE THAT, THERE'S A 10 POINT WAY TO 1220-22 AREA FOR FIRST RESISTANCE.
IF IT CAN NOT HOLD 1211-12 AREA AND WOULD MOVE DOWN, THEN WE SHALL SEE 1200-2 AREA TO HOLD FOR SUPPORT.
I FAVOR A BREAKDOWN TO THE DOWNSIDE… BUT FOR NOW WE SHALL JUST WAIT…
ps: also note the ...
BEGINNING FROM LAST JUNE CORN HAS BEEN FREE FALLING, AND THESE LAST WEEKS WE ARE SEEING CONSOLIDATION AROUND 420-435 AREA.
- THE BREAKOUT ON 4 DEC. TO THE UPSIDE SEEMS TO BE A NONVALID ONE,
- WE MAY ALSO BE SEEING A HEAD&SHOULDERS PATTERN ON THE DAILY GRAPH.
A POSSIBLE BREAKDOWN OF 420 AREA MEANS GOING SHORT THE ...
STILL NOT TOUCHING COFFEE…
AS YOU CAN SEE COFFEE SEEMS TO BE DECIDING WHERE TO GO NEXT…
LAST FRIDAY CLOSE CAN BE AN EARLY SIGN OF BULL TREND WEAKNESS, BUT WE'LL KEEP OUR MINDS OPEN FOR ENTRIES ON BOTH LONG AND SHORT SIDES.
WE HAVE TO SEE STRONG ACTION FROM COFFEE TO THE UPSIDE OVER 117.00 ON A DAILY CLOSING BASIS ...
FOR COTTON WE HAVE TO PATIENT AND WAIT TO SEE IT WILL COME BACK FROM THE RESISTANCE I DRAW ON THE CHART (NOTE THAT RSI IS ON O/B) FRIDAY CLOSE COULD BE A HAMMER SHHOWING REVERSAL.
A CLEARER SHORT TRADE WILL TAKE PLACE IF AND WHEN COTTON BREAKS DOWN 81,50 SUPPORT.
FOR NOW WE SHALL WAIT.
AS YOU CAN SEE FROM THE LONG TERM GRAPHS COFFEE HAS BEEN ON A DECLINE FOR OVER A YEAR, BUT RECENTLY SHOWED AN UPSIDE BREAKOUT. IS THIS A VALID BREAKOUT OR JUST A BULL TRAP?!
AS OF FRIDAY CLOSE;
PRICES SEEMS TO BE STUCK INBETWEEN 113,35-117,00 AREA.
IF WE SEE A DAILY CLOSE ABOVE 117 WE MAY ENTER LONG, IF WE SEE A ...
THIS FRIDAY AFTERNOON IN USA SESSION, WHEN THE CRUDE OIL TRIED TO BREAK THE SUPPORTLINE IN 98,70 I ENTERED SHORT ON 98,60, MY MISTAKE WAS NOT TO WAIT FOR THE 4 HOUR CANDLE TO CLOSE! SO IN 1 HOUR THE PRICES MOVED UPWARDS AND I WAS STOPPED AT 99,25. ALWAYS WAIT FOR A CLOSE IF POSSIBLE OR KEEP CLOSE STOPS!!!!
AS OF ...
as you can see from the 240 min graph of GOLD, 1211 is a crucial support for GOLD. If breaken down, we will see a good downside rally.
currently pending for short entry on a close below the 1211 support.
It seems like a good idea to short gold, if the prices rise up to 1289-1293 area, because we see a resistance in there,
or a short trade can be taken, if and when there's a close below the 1208-1210 area.
please take also a close eye on the RSI support, since it can give an early sign of the exact entry points.