- 1 hour potential Head and Shoulder formation targets 8800 - A bounce from current level may put in a strong rebound to test upper bullish channel - If H&S plays out - the target is decent and viable since 8800 level has minor support April 15 See weekly and daily chart too for directional play
Lower targets 10100 Higher targets 10300 again
XAU/USD - On the look out for bullish exhaustion so prices can pullback for RHS - Top of the monthly Bollinger band in line with 2015 January high $1307.5 - perhaps resistance there - Another potential resistance stands at the 50 monthly MA which currently trades at $1343 - in line with long term downtrend line - If this trade works out, look to sell in a blow-off...
Here are the basis on the long: - Larger timeframes confirm divergence - retest of previous low fail to take it out (sellers exhausted?) - buyers are around at 500 -530 levels - work with long and entry as overall market is bearish - target potentially the 20 ma but also the upper channel
Higher Dax argument: - there is a risk that current price action is in wave 4 and there is a potential thrust of wave 5 to target 11200 - it fits in with 61.8% fib retracement for 11200 levels as it confluence with the downtrend line (magenta) and cross well with the rising black line which depict potential exhaustion point - it remain bullish as long as it does...
Considerable amount of long positions taken by hedge funds. Increase in COT longs remain a concern that time is running out for the bulls to do something to break higher. Catalyst for higher prices are: - Dovish FOMC to send a spike - Dollar weakness / retracement The idea here is to watch for a potential bull trap zone marked between 1190 - 1210 levels with...
Insight into emerging markets - medium view is a market recovery into mid 2016 before we such large formation play out - Ideally is to short in May and go away If Head & Shoulder play out then: Neckline - 4000 Head at 5500 = 1500 potential move Target if break and materialise is 2500 Coincide with key support
Expect much lower prices to begin with but lower TFs are showing sign of exhaustion and bullish RSI divergence. Will need a solid reversal bar before building some long position for a relief rally for a 20 ma reconnect.
LONG only if the following criteria is met: - Inside day playing out here as the candlesticks pierced below the bollinger band - as long as price can break out of the downward channel line and above 20 DMA - Once all the above aligned and price break above 15.90 then a swing long to target the 100 and 200 DMAs
Depending on today's close and only if it break and close above 1163 then warrant a buy to target 1182 levels and 1194 as next target.
A dovish FOMC statement despite the ongoing view of a rate hike but with market expectation having priced in such scenario, it will be harder to justify a stronger dollar. An imminent Greece deal should unwind a safe haven dollar index trade Technically, daily chart has an inside day formation at the upper bollinger band which send a strong signal that a...
Current price action is at 11100 YES vote - 11600 (+500) NO vote - 10600 (-500) Notes: 1) Upper GAP unfilled at 11521 with the 100 DMA sitting at 11542 (coincide close to the downward channel) 2) Still trading within a downward channel 3) Price still trading above the 38.2% 10852 with 50% yet to be breach at 10375 4) Price still trading below the 20 DMA 11183...
Failure to capture above the 50% fib move will indicate further selling momentum. However, we will wait for confirmation on the break out from the steep triangle structure.
Several scenarios to play this ascending triangle structure. 1) wait for a solid break out above 2655 with stop at 100 ma (4hour) to go long and target 200 ma or play out the Inverse Head & Shoulder (risk reward favour this scenario) 2) wait for a break above 2646 and watch for pullback with stops at 2655 target the lower end of the ascending triangle
A bullish engulfing candle and today price action is trading within it (need to see close for an inside day confirmation) Potentially, this could be a reversal play or another Bear Flag but the optimum trade is currently within the channel PA still trade below the 20 MA and daily RSI maintain bullish divergence Bollinger Band converging for a potential breakout...
Copper broke below the bear flag formation and resistance and the 20 DMA kept upside limited despite additional stimulus from China. Possible retest of 2550 levels as sellers dominate in this market and the RSI has yet reached oversold area. Daily candlestick is bearish after a doji and a red engulfing flag. So we expect more downside here as the downtrend...
The H&S is currently in play an the USD is holding on above neckline and we will not rule out a retest of that neck line for a well defined entry and risk. Target is very much of higher number at 11950 or even higher depending on how the Europe act with Greece. Stay safe
A possible double bottom is in place but gap at 1175 needs closing sometime this week and prices need to rebound hard. Otherwise, it is much easier to see lower prices here.