Looking to short Gasoline below dual support (at the eclipse) with the first target at 1.4575. A convincing break below trendline support (triangle) look for 1.2605, further downside pressure could see 1.0323 as a third target. On the fundamental front, 'Smart Money Hedgers' have increased their bearish exposure to this market substantially. The time frame for...
Fibonacci taken from the highs September 2018 (1) and the lows of December 2018 (2). The highs of January this year tested the Fibonacci 1.618 extension level (3), which has so far held. Breadth indicators are also showing signs of weakness.
Short term trade set-up. (Trade Idea only, Not advice) Long EUR/USD 1.1056 Stop Loss 1.1033 Target 1.1099
USD/MXN broke out of its steep falling wedge pattern (1), retested support (2) and today broke above resistance and has knifed through its 20dma. If we can convincingly hold above the 20dma and support, it’s likely we will begin heading north. Smart Money Hedgers are massively short the Mexican peso. The time frame for this trade is short to medium term.
Coffee approaching triple support cluster (eclipse). What it does at the support zone could be a good indicator as to how to position yourself on this commodity.
Aflac Inc (AFL) Daily Chart. Nice solid overall uptrend, healthy pullbacks, just bounced nicely off the 200 period daily moving average. Fundamentals also look healthy enough. So for me, this one is going on the watchlist. As we head into the apex, I will be looking for a breakout of the triangle to the upside, then hold and close above the resistance zone....
Look for further gains above the 61.8 fib level, Time frame = Midterm (3 to 12 weeks)
GBP/USD currency pair has been extending its losses amid dovish comments from the bank of England. If we break convincingly below dual support at 12985 we could see weakness throughout the rest of January until the BOE announces its interest rate decision, on the 30th of January.
Natural gas hedgers are near 'long position' extremes. We bottomed out on the 3rd of January this year which were the August lows of last year. Watch for prices to rise above the 23.6 fib level (2.247). Time frame outlook, short to mid-term.
High expectation for RTN! However, needs to push a little higher before I board this trend.
Due to the recent geopolitical risks, defence stocks in general, are worth keeping an eye on, this is one of them!
Wait for the break, hold and close above resistance at 302.5.