CLJ0 Daily AnalysisThis analysis of CLJ2020 , the contract for April 2020 delivery, is an attempt at forecasting oil price into Q3 2020. A potential supply area around 6275-6325 via an increasing urge to lock in profits/reduce short risk exposure . Also, the risk of downside for longs is ever more noticeable as oil approaches the 3-sigma area where odds of mean reversion greatly increase. Looking for selling into strength opportunities in the lower timeframes is reasonable it seems.
Gann Box
BTCUSD | NineAbridged process...
1. Square chart using Thales Theorem
2. Generate perspective Gann Box from unit triangle
3. Locate wheel center (action pivots) from unit circles (support and resistance)
4. Find confluence through convergence (confirmation)
5. Generate pyramid to identify anchors above and below price action (as above, so below)
6. Create mirrored fans (support and resistance level) then put it all together
Pretty picture, Not trading advice
PS: Don't forget about the upcoming Super Moon and Eclipse
MATICBTC | D | GANN WHEEL & SQR SETUPMatic pump and dump is done, major structural damages happened. This is maybe it for matic.. and to remain bearish for a while.. good luck.
Second ring retracement.. this is not looking good:
Cheers,
Keops
The Coming Crypto White Hurricane (worse then winter)ETH is just an example, but its plain to see this ETH sell off is far from over sold...its still in the early stages..and once we break 145...the next stop is a break of the 2018 lows...at least to the 50 region.
Lets not forget the ETHs creator has long been forecasting that ETH is in for a big price fall ..
Almost all of the crypto complex charts look like this..save a few...
On this ETH chart you can also see we have been forming a very large head and shoulders pattern...its quite classic right down to the volume signatures. And its a biig long one...so the impact will be meaningful.
We are heading for a massive washout and wealth redistribution,..that didn't happen in 2018...but its probably going to happen in 2020.
BTC dominance is down from over 70% to mid 60s....which means other coins like BCH are taking small market share from BTC and I see this trend to continue (but the shakeout will force lots of crypto money into BTC when the whote hurricane gets going into over sold territory...BTC will probably remain the king for a while longer...but I expect it will also eventually retest the 3K mark....we need a large scale shake out...it hasn't happened...but its coming...I am not forecasting the end of crypto...I am forecasting a well needed shake up and clean up of useless tokens...
CLFO: Potentially Ready For A CorrectionSeemingly oil has completed a five-wave sequence. The structure seems odd, but overall this scenario seems to have some weight given the closing of the week where bulls decided to take profit. I expect that next week starts off red before another bullish leg. It makes sense to look for fading setups in the lower timeframes.
Silver to $27 beginning of 2021?Silver has gained about 1000% in about 8 years from $4 in 2003 to about just under $50 in 2011.
From there Silver retraced 78.6% to about $13.80.
The current recovery has seen a near 40% gain.
Current estimate is that Silver will reach close to $23 by tax time 2020 and then reach further to about $27 in the beginning of 2021.