nikkei121

nikkei121 Updated 

Widely expected to correct downwards after such a long period of growth. However end of last week's movement proved there are still some steam left in the furnace. It might be range bound for a little while. Be careful of this false break. Close of the market attempt to support break suggest some big funds at play or a large algo group going for a kill.

nikkei121

Range bound selling down pattern

nikkei121

Rising wedge on 4h chart.

nikkei121

EUR has lost the momentum to scale new heights. The Eurozone is losing its footing in the midst of finding economic drivers..

nikkei121

4H fibo retracement coming up?

nikkei121

More production coming online... Indians appetite still strong but it's controlled market. Gold certs are over printed and without support of the same physical. However the situation will correct somewhat later on.

nikkei121

You can see the next crest very soon and retracement down to (B) is a opportunity to buy in.

nikkei121 Updated 

Rising wedge with a few false breaks. After the fall, it will rise again in January.

nikkei121

Gold and Oil used to have a direct positive relation. Something happened. Maybe the limits of behaviour is a minimum oil price of $60 per barrel. Afterall Gold CANNOT be SUBSTITUTED unlike Oil. No doubt Oil's rise no longer brings inflation as directly as before. Before Oil loses that inflation causing effect when batteries takeover, perhaps Oil will have one...

nikkei121

Geez.. The indecision of the market creates a punked H&S?

nikkei121

Elliot wave

nikkei121

Rising wedge reversal cue.

nikkei121

Elliot wave forming nicely with setup for wave 5

nikkei121

Looks like trading within a channel of about 550 pips band.

nikkei121

1H Elliot wave

nikkei121

Looks like a 1H Elliot wave formation.

nikkei121 Updated 

If it hits that resistance level, short term Sell opportunity present itself. USD related events in 2nd half of the week may be the catalyst for this retrace.

nikkei121 Updated 

Last of 3 rising wedge patterns.