If gold wishes to break highs, and make new one, first we must see somewhat decent price correction before any bullish rally. CoT data supports idea that banks are currently profit taking on every rally in gold, and are unwilling to take long orders at current levels. What might happen is, after most of them exit long positions and price drops to 1270 level again,...
When something is hated and oversold, it is time to buy it. There is not yet clear conformation for bullish trend, but it will be very interesting when two trendlines meet on weekly chart. Risk reward is on bulls side. And with ever increasing prices, it is only matter of time before actual food become more expensive.
Ripple showing buying pressure on support level (yellow circle); even after Soros/Korea lockdown Ripple couldnt break under support zone--->we might get break up from falling trendline, and retest all time highs in the future(3-6 months).
Natty just hit double support zone last week and we saw bounce up. Overall longer time trend is bullish, but we are trading in the range (blue lines), and price is currently being boxed in by raising support channel, and falling resistance channel.
Shorter time period, I expect raise in price before hitting resistance around 3$-3.1$
Also, gap filling is possible...
USD in 2018 will see further losing power, DXY could be correcting down to 85 before any major institution buying could happen, so I expect major correction in all USD pairs, but only not in one, NZD.
NZD just came up from support, and retested already broken trendline from the other side, and this is my first short position for NZDUSD.
I wont take profit until...
After great hypo into end of year (and after many warning about unexperienced buyers buying bitcoin or any other cryptos with their credit cards, time has come for much needed correction, and for weaker hands leave crypto mania), BTC could repeat moves that we saw from Ripple or ETH action from June to November, in which, after, in that time, massive gains for two...
Gold is retesting breakout from the triangle after FOMC, as since December is always more negative month for gold, drop was expected, but after it, we got first green signs, that, as usually, gold will rally into January and early 2018. Target price, first one should be around 1300, and second 1350.
Two target prices (blue lines), first is on bullish trendline, on which we must see to add more short or wait for another retest of highs.
If first support fails, we could see further weakness in EUR, before correction and retesting of now broken bullish trendline, on which I plan to add more shorts.
Its simple. Buy natgas into winter, sell it at high, and wait for profit by Easter.
Natural gas broke falling trendline and it is on war path for testing high level (mild winter is coming so far, so highs shouldnt be broken!).
Once at highs, sell natural gas and wait few months.
This is my view for oil trading until March 2018.
COT Oil trades are currently at highs, and if oil fails breach weekly red falling trendline, we are stuck in trading range from 45 to lower 50s.
Repair zone for oil is around 46, and with current bullish OPEC talk, it wont be breached soon (yearly speaking).
Major event will happen only next year, with OPEC-non...
As cryptos recover, bulls return, support was held, and testing of new highs is under way. (If not new high test, at least test of old high-420)
Once price enter into chopy area of 260, we might see fallback down to trendline (red), or chopy action inside range 260-290 before next leg up.
Overall: bullish conditions.