MarcusBlac

MarcusBlac

Gold showing a lot of headwind with choppy price action over the last 10 months, this is typical wave 4 consolidative behaviour. We are forecasting a few more months of sideways wash before possibly launching. Stay tuned!

MarcusBlac

Complex wave 4 correction panning out in Gold we should expect few more weeks of painful sideways chop before the next definite trend, stay tuned!

MarcusBlac

Gold still looks to have another dip to make one more low most to at least 1710-1720 most likely a lot lower to 1674 prior to making new highs

MarcusBlac

We are looking at some bearish headwinds ahead in the world major indices especially in the S&P, we have seen Crude being continuously suppressed over the last few months which does inherently does provide stimulus and boosts the economy but this is actually a precursor to an eventual further decline in the equities market. We should be on the cusp of the rally...

MarcusBlac

Being a veteran trader I know how inter related and cyclical the Oil market is with equities. We have not seen the end of the precipitous decline that commenced earlier this year. despite the cheaper oil prices being seen as a boost for the economy in general and for equities. Large drops in crude oil have the effect of increasing profits in the economy and...

MarcusBlac

The European region is headed one way and its not up! we are in the midst of a precipitous long term decline of the EURO to test the 103 level prior to heading a lot further down. Would not be surprised to see EURO short term rally a bit further suck in the longs and the decline will commence. I do not see much upside left for the EURO, there is nothing positive...

MarcusBlac

Almost time to load up on Shorts on the Aussie, we are currently in a risk off environment, a flight to cash, a forced liquidation of the aging population of assets to fund retirement etc is going to be another causation of the commodity driven Australian economy to be in a recession and negative growth in the coming years and decade. A lot of Risk currencies are...

MarcusBlac

The rising wedge is clearly evident but expecting a contrary to the expected normally bearish immediate breakdown from rising wedges, expecting a false breakout to the upside above the rising wedge to the 1707-1740 levels possibly prior to dropping significantly towards 1585. The current wave up is a wave 5 in a 3 wave intermediate sub sequence, after the short...

MarcusBlac Updated 

Even though during times such what we are in where the safe haven aspect of Gold should shine we are faced with the unprecedented times when cash itself is superior this will drive pressure down on Gold and will keep Gold muted for the short term in a consolidated downward bias trend. Expect selling pressure in the coming weeks to drive Gold down to 1350-1400...

MarcusBlac

There is a lot of traders who would disagree with this view but i have been a massive crypto bear especially on BitCoin for a long time, I am expecting BTCUSD to drop to sub 1k levels most likely 1k-1.5k in the next 12-24 months. At current levels the price could rally up to low 7k prior to tanking. Bitcoin along with all other Crypto currencies and especially...