Brent came down exactly as expected yesterday with EIA results not giving much reason for further increase. Formed a wedge during teh fall, expect price to retrace to around 72.3 today. nice quick opportunity there.
USd will weaken for the time being. Within a few weeks we will see reason for USD to strengthen, and the table will turn. For now Short Dollar. will review again each week until we can see signal for dollar buy.
Am i seeing this correctly? Some sort of reverse wedge on BIDU. Togtehr with strong RIS divergence is telling me to BUY bidu and take it LONG to the 61% FIB level.
TSLA looks on track to reach around 660. however, i would question whether it will break above that upper trendline. WE have a long term reverse wedge on TSLA, which typically is a reversal signal. If TSLA break its support, expect it to fall further to the 61% FIB level in the coming months.
Bitcoin looks like he could head back to 48000. That is only if it can break this upper trendline. however, if bitcoin breaks below 30,000, then expect price to fall to 20,000. At 20,000 bitcoin will be a really good buy. and we will reassess there.
Gold hit a key resistance at 1900-1910. a reversal was imminent. The fall is not over yet. You can see a rising wedge, which will reverse downwards. Expect gold to reach close to 1850 before more direction. We should see 1865 within this week, this coincicdes with Bond yields which are likely to rise.
You will see on my chart, the U.S 10 year bond yields chart forms wedges very regularly, and in most cases they work. A new wedge is about to finish completing which will cause a upward reversal to around 61% FIB retracement.