Right now, the market is sandwiched between two vital levels of support and resistance. If it breaks down, that confirms a move to the $220s. If it breaks up, then we can expect to see a little bit of consolidation in this are followed by a steady move toward $400. Both scenarios are plausible at this point, but I wouldn't underestimate the bulls at this...
The ABC correction from the 305 top has finished off exactly as predicted, see chart. After the bottom of C, the downtrend resumed and touched down on the (minor) 266 support. Of course a rebound was to be expected as prices don't move straight down or up. Now we are looking at a bearish wedge forming with a possible break down sometime tomorrow, or wednesday at...
In my quest, I am looking for Mr Dead Cat the First, the very first short recovery or dead cat bounce which might be signal to us the confirmation of the continuation of a major Bear Market. As illustrated in the previous crashes, we see that almost uncanny similarities when using the Commodity Channel Index as an indicator to predict start and end of...