It's a strong long now. OIL had bottomed. Daily chart MACD is crossing over again with a higher low. 10 EMA and 20 EMA is crossing over, and today will be the 4th day price is above the 10 and 20 EMA. There's a huge divergence between the price and the MACD and RSI indicator: while the price was printing a lower high on 02.11. MACD and RSI was making a higher...
A possible daily cycle low was printed in EurUsd yesterday. I we could close significantly today above 1.1043 ( price goes above 1.1043 and stays there )I will open a long position. Stop goes below the DCL (1.0957). The only thing makes me nervous is the MACD that should have crossed over.. But that may come later. We might be testing and break above the...
I don't think we will have a significant breakout today... Maybe tomorrow or the day after tomorrow. It's not going to be an easy breakout. Traders are nervous and we have a hell of a lot of commercial shorts. Prepare for the false breakouts.... One thing is sure . If we break to the upper direction it will be a wild run to 1300 with the young bull.
A pennant forming in gold. The commercial's short position was near 300.000 last week. It means big banks are waiting for gold to fall into the daily cycle low. But the buying pressure in gold is so strong that it seems to me that we are forming a pennant instead of the daily cycle low... A pennant pattern is a continuation pattern in the 95% of the cases... The...
Everybody is waiting for gold to go 1310. Especially bulls who bought gold above 1200 in the breakout or at 1190 at the backtest. The bear is over? Yes. In the long term am I waiting for gold to go higher? Yes. But I don't think gold is a long in the following 2-3 weeks. Time for the correction: MACD crossing over TSI crossiing over. RSI looks ther same as last...
I post this as a neutral chart, though I think the chances are much bigger for a decline in gold. Why? COT is very bearish ( I will post soon) Gold's weekly chart has a hanging man + we are turning down from the 200 EMA We are on day 26 in the daily cycle which usually lasts for 28-35 days So there are 2 possibilities of breaking out of the triangle. If you play...
After the triangle breakout the next level is 1196, 89. It's the daily chart's 10 EMA. Gold was trying to turn up from the 10 EMA during the last 2 days , so that's the first level we have to break. After breaking it we will heading down to 1180 (02.10. low) . This level is the FIBONACCI 38,2% retracement of the previous rally. I'M STILL WAITING FOR THIS...
After the triangle breakout the next level is 1196, 89. It's the daily chart's 10 EMA. Gold was trying to turn up from the 10 EMA during the last 2 days , so that's the first level we have to break. After breaking it we will heading down to 1180 (02.10. low) ( highlighted in a red box) . This level is the FIBONACCI 38,2% retracement of the previous rally. I...
Gold has formed a triangle on the hourly chart. I was waiting for it to break down, but the banks who are controlling gold prices managed to make a breakout to the upper direction. The breakout had no follow through we are heading to 1190 with a key reversal. More pain is coming.
A triangle is forming in gold 15 MIN chart. Usually it's a continuation pattern so I'm waiting for this to break down soon to test and break 1190 .
The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . Today's COT data will be published on Friday. I think it's going to be...
After the succesfull test of the 2015 Nov IC Top and the hourly 50 EMA at 1190 we had a testback to the hourly 50 EMA. Next level is 1180 . The hourly 300 EMA and the 61,8% Fibonacci retracement on the daily chart is at 1180. It's still not the daily cycle low. So don't try to buy. More pain is coming.... I will try to sign the exact daily cycle low, which is...
After last week's monster rally on Friday and today gold started to move down into its DCL. If the bear is dead - and I think it is - this should be gold's first bull market countertrend rally. It should be fast , painful, scary and has to get everyone very bearish to let gold build its second leg up. This DCL should come back to the 50% FIBONACCI retracement......
Today on the daily chart of the S&P broke the trendline and forming a double bottom. We could have the same setup a last october with 4-5 weeks rally... Even if the selling pressures comes back next week , this week we can have a nice bounce for 4-5 days...
Friday GOLD was on day 20 - it's a possible daily cyce top so it can start moving down into the daily cycle low. The possible levels: Level 1 : 2015 May Intermediate Cycle High (1232) Friday correction was able to come back to this level Level 2 : Bear market trend line test back (1200-1210) Level 3 : 2015 October Intermediate Cycle High (1191) + 10 EMA I think...
The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . It supports GOLD's RALLY we had last weeks. Gold's bear market rally...
GDX ( Market Vectors Gold Miners) printed a shooting star yesterday. Today we had a decline in most of the gold miners and NUGT. Tomorrow while the stock markets are bouncing gold also could start its decline into the daily cycle low. GDX target : at least the FIBO 38,2% (15.8) Maybe we can come down to FIBO 50% (15.15) If we are in the GOLD bull market we...
The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . It supports GOLD's RALLY we had last weeks. Gold's bear market rally...