Metal
PA1. Palladium looks like a solid Buy optionPalladium futures are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable.
On fundamentals, Palladium hasn´t forwarded the Gold rally therefore has a similar or bigger room to run. Also, looks like there may be a temporal shortage of a supply for this metal: www.metal.com
Buy: at current levels
SL: 580
TP1: 620
TP2: 650
TP3: 680
XAUUSD. Correction waves in playAfter all this huge ascending we had, it is clear that Gold is a Buy: huge sideway channel we had since some weeks ago has been broken upwards and broken well, with a solid confirmation.
Now, before going any further, Gold has to correct: lot of mid-term buyers may want to take their profits. I´d expect it to correct to a Fibo 50% line as it looks like a solid support but do not discard going back to the flag line (black) and have some sideway trading there...
Notice RSI is heavily overbought on 1H and 4H timeframes, daily and weekly also approaching to overbought zone
Entry point: Monday by market
SL: 1301
TP1: 1284
TP2: 1273
TP3: 1266
Gold/Silver Ratio 4/20/2016The big direction of this ratio is obviously down, and there are only three ways this ratio can go down: 1. Silver going up and Gold going down; 2. Silver going up more than Gold going up; 3. Gold going down more than Silver going down. #3 is very unlikely and #2 is most likely. Personally, I'm long both metals.
SPY/XME/USO/GLD/SLV Ratio 4/18/2016 (Short-Term View)Watch the lines. This chart tells us when to switch from bubble assets to contrarian assets.
SPY/XME/USO/GLD/SLV Ratio 4/18/2016 (All-Time View)Watch the lines. This chart tells us when to switch from bubble assets to contrarian assets.
Inverse Gold/VIX Ratio 4/15/2016 (All-Time View)Watch the lines. This chart can guide you if you are pursuing the strategy of being long Gold/VIX, and this ratio dropping means you are winning.
Inverse Gold/Short S&P 500 Ratio 4/15/2016 (Short-Term View)Watch the lines. This chart tells us how much/how urgently people are selling stocks to buy gold.
Inverse Gold/Short S&P 500 Ratio 4/15/2016 (All-Time View)Watch the lines. This chart tells us how much/how urgently people are selling stocks to buy gold.
Head and Shoulders pattern - Breakdown or a run to 1300?$XAUUSD was one of my winners last week with successful bearish harmonic pattern traded from 1260$ to 1230$.
Now a bearish Head and Shoulders was formed with a neck line that is also the bottom of a trading channel.
The price closed below the 50 SMA line and barely above the Fast SMA line.
1225$ - Key support zone
Bearish scenario - Breakdown and continuation towards 1200$ and 1180$
Bullish scenario - Neck line holds as support and $XAUUSD runs towards top of trading channel - 1300$
Tomer Jakov, The MarketZone (@themarketzone)
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- goo.gl
To subscribe to the newsletters - goo.gl
Gold 4/13/2016Watch the lines. It looks like it might be forming a several months long pennant and the two sides (pink lines) of the pennant triangle will converge by 05/31/2016. Watch the lines for decision making.
XAUUSD_ Expected bearish Gartly pattern Potential Short opportunity due to what is mentioned in the chart .
Silver 3/31/2016Watch that dark blue line - being above it is good and breaking below it is bad. So far it seems to provide very strong support. The rise of Silver could be built on this line.
CENX - Possible BullCENX appeared to be just finishing a head and shoulders tops formation (marked by five horizontal blue lines) spanning from Sep 2015 to march 2015. Based on that formation, the price should have retreated to approximately 10 dollars. It went slightly below that but showed some signs of stabilizing. However, CENX also posted revenues that were 26% below consensus in August, driving the stock price even lower - this in the face of ongoing troubles from oversupply of aluminum.
CENX has traded lower from that point, but appears to be staging a possible rally. After stabilizing somewhat from November until January, positive earnings surprise coupled with the generally improved market (over the past several weeks at any rate, whether it holds remains to be seen) has helped drive the price above two short/intermediate term price levels at $4 and $6.
This brings us to the key point - what will it do next? CENX hasn't broken the trendline running at approximately $7 since its second decline in August until now. If it can hold above this level, its next key resistance level will be $10 and the distance between here and there represents a good opportunity.
I would cautiously note, however, that while volume was strong immediately after the positive earnings report, volume on the recent break above its $7 resistance is actually below its moving average. I would also note that aluminum prices have recovered somewhat and this is also a driving force behind CENX prices.
This is a wait and see moment, trading well above $7 for a few days or seeing a significant price increase on significant volume from here will indicate that CENX has bottomed and the price will increase from here for some time.
Anticipating a move from here would be foolhardy.
This rally can change your bank statements forever.Buy gold on correction. neckline breakout after correction would be confirmation,
