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Commoditysignals

GOLD Gearing up a long-term move to $2600.This is a simple macro projection using the LMACD on the 1M chart and the MA20 and MA50. It appears that Gold is reproducing the early 2000s bullish run that led to its All Time Highs of 1900 is 2011. The MA20/MA50 Golden Cross has taken place and those MA periods have never crossed paths again, giving way to a strong 2019/2020 rise. The LMACD is on the Resistance of the 2004 price fractal. Back then, Gold was supported the whole year on the 1M MA20 but upon contact, never broke. This March (2020) we almost had contact with the MA20. If we have another similar event, it will be the strongest confirmation if an upcoming hyper bullish extension to $2600 (roughly +160% from the 2015 bottom as it happened in 2004 on the 1999 bottom). Do you agree with this macro idea? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community!
FX_IDC:XAUUSDLong
by TradingShot
6
Is GOLD preparing a +7% rise?This is based on the long-term trend starting 1 year ago (exactly May 2019). I want your opinion on this very interesting pattern I found. As you see and probably most are well aware of, Gold has been trading within a Triangle since early April on the 1D chart, with the MACD close to forming a Bullish Cross. The very same Triangle has been formed twice after the last two tests on the 1 year trend-line (excluding of course the break-out on March 13th which was fueled by the COVID sell-off on the stock markets). What followed after the Triangle broke upwards was a +7% bullish extension. In total the whole move from the last Higher Low of the Triangles was +10%. The MACD cross on the Triangles' breakouts was identical. Does this mean Gold is about to make a +7% jump? Now this is a long term projection and many parameters have effect on such estimations. I am not trying to inject euphoria on Gold buyers or scare sellers, I prefer trading smaller time-frames. Just pointing out a technical occurrence. I am very curious what you think about that chart. Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community!
FX_IDC:XAUUSDLong
by TradingShot
11
USOIL Why it MUST hold this Triangle. Danger for $42.5 otherwiseThe pattern is a Channel Down since the April 2019 66.60 top. However with the price rejected on the 54.60 Resistance and pulling back to the 49 region the very bearish fractal of 21 Nov - 14 Dec 2018 comes to my mind. See how both then and now the price traded within the 54.60 Resistance and 49.30 Support. As a result buyers must defend the Lower Low zone of the long term Channel Down (which I have displayed it with the green Triangle) if they want to avoid an aggressive break down to the 42.30 1W Support (24 December bottom). On the other hand, every time the Channel Down made a Lower Low, the price always made a pull back after the first rebound. I have illustrated that with the circles. It never jumped aggressively to a new High. So as long as the Lower Low zone holds, it is a long term technical buy.
FX:USOIL
by TradingShot
1