Brent Oil Changes Ticker to BURN1!Hello Traders,
Would just like to remind you that we still need oil to get to space.
Gold is a heat reflective material required for space travel and atmospheric re-entry, so please hold and sell your gold accordingly.
Also, Brent changed their ticker from BRENT to BURN1!.
MACD signal line will cross going upward on the month-view around 69 dollars according to the Madrid Moving Average Ribbons.
Squeeze is up, ADX increasing, DI- over DI+.
Happy Holidays and have a Great New Years!
See you all in 2020!
-dysonring2050
Fundametnals
Gold - Another Push To The UpsideFor this setup we have:
- Elliott Wave minor wave 2 completion and a potential of a minute wave 2 completion (completing within the range shown on the chart) once complete will push price violently to the upside.
- Middle of Elliott Wave channel as support.
- Minor 50.0 Fibonacci retracement (Wave 2 could complete within the range shown on the chart).
Overall, there is still a lot of potential for Gold to the upside, due to the US-China trade war uncertainties and a manufacturing recession in the US which was shown to be in the contraction territory for the last 2 months. Therefore, I believe that there will be another flow to safe havens which makes Gold a great set up both technically and fundamentally.
SL: 1465.00
TP1: 1536.00
TP2: 1557.00
TP3: 1585
Enjoy!