xsubtownerx

xsubtownerx Updated 

Pretty straight forward long setup for miners. It's all about patience and finding the pivot point in the coming days for first entry. RSI divergence, MACD divergence and also end of C wave impulse. This could also possibly be the absolute bottom of wave 2, but we'll need a couple of weeks or so to know for sure. With that said, there's going to be (at the very...

xsubtownerx Updated 

If OIL trends the way i think it will, it'll be a coincidence in regards to the OPEC meet at the end of November. I just want to get that part cleared. :P Short term speaking we're looking close to a bottom here at these levels. RSI divergence, 3 wave correction, and possible MACD crossover all signal buy right now. It will be interesting to see how Sunday...

xsubtownerx Updated 

A lot of bearish signals here, but one could argue that there are some pretty bullish ones too. The obvious bearish pattern is the potential H&S forming. Bellow average volume on the right shoulder is a clear signal as well as the symmetrical candles compared to the left shoulder. It's seriously almost a mirror image. But on the flip side, we have a potential...

xsubtownerx Updated 

We are finally starting to see some bullish indicators on the daily for XBI. Of course with bio, the swings are long and hard to predict bottoms, so this idea/play is pure speculative. Looking back we can see similar RSI divergence signals and MACD crossovers as to what we can "potentially" see here in the next couple of days. Any bounce off the 55.95-ish area...

xsubtownerx Updated 

There's a lot of flags right now being raised on miners. Even though gold has slowly crept up from its recent fall, miners on the other hand have not correlated with gold which should be seen as a red flag that the correction is not over. Also the nearing of the death cross should be taken seriously. With that being said, my bullish bias is telling me that bottom...

xsubtownerx Updated 

Pretty simple long setup on the weekly. We had a hammer close and RSI (5) shows extreme oversold. We can see a similar candle on the week of June 20th, which then lead to 4 straight green weeks. I don't expect much more downside for #MRU from this point. I have a short term target of 45.15 and 46-48 long term. There is a lot of open interest for the October 16 46...

xsubtownerx Updated 

This is getting a little top heavy right now with the RSI (5) and MACD showing signs of a short term pullback brweing. Volume has decreased the last couple of days as well which usually means buyers have started to slow down. Anything can happen tomorrow with the FED rate decision however, but ultimately gold prices need to move higher in order to reach and pass...

xsubtownerx Updated 

I think most of us longs would agree that today played out the way it should have. No rate hike, gold goes up. Right? The real test is tomorrow and Friday in my opinion as we need a strong continuation of today's action. The range is narrowing now and we need to make a new 52 week high pronto as we're running out of ammunition. If we fail, a break in support...

xsubtownerx Updated 

It's been a rough few weeks for gold and gdx (miners), but there could be some good gains up ahead. Looking back at the May lows, you can see that we are forming a similar pattern here in October which could be seen as a potential bottom for gold's recent downtrend, provided we are truly in a bull market for gold. This could be seen as a healthy correction...

xsubtownerx Updated 

We broke the bottom trendline today. A retest of the 1305 support level most likely coming early next week. I'm neutral right now as anything can happen, but if we do break the support line, I will go bearish to 1280-ish.

xsubtownerx Updated 

Today oil gave up all its gains from yesterday, which is a key signal that more pain is coming (albeit short term). I see two sets of bearish RSI divergence points after today (one longer term and the other short). All signs are here for a clean short swing in oil. I will be starting a short position tomorrow (unless of a massive drop overnight), and will set my...

xsubtownerx Updated 

There's nothing I like more than spotting similar patterns when looking at charts. History does tend to repeat itself. So what we can see here is a pretty standard MACD divergence forming right now, and what looks like a copy paste of what happened a few months back. I'm short until the bottom trendline. Weekly chart not looking good either, but we'll look at that...

xsubtownerx Updated 

Pretty clear cut Head & Shoulders pattern here that has now created an interesting buying opportunity. At least for the short term. MRU has now hit the top part of its first support range and bounced off it as convincingly as it did in late June. Interesting setup right now.

xsubtownerx Updated 

After Tuesday's nice spike, we've had a small healthy pull-back which now completes the lower part of what looks to be a Cup & Handle . If we get a nice close tomorrow, we will most likely be seeing a new higher-high next week. With this in mind, one should still proceed with caution (if starting a new long position). If we don't close above the 50MA tomorrow...