As illustrated via the solid blue RSI trendline, monthly futures have been accumulating pressure for about 7.5yrs. In our view, a monthly close above $16.15 would result in large capital inflows not seen since 2003. Risk associated with entering at present levels may be partially mitigated with a timely exit if weekly values close below $14.75. From a purely...
Pending breach of resistance, Bitcoin likely to revisit support around $3570.
Solid black (daily) and dotted gray (weekly) lines illustrate pattern's approach to apex. First pullback target ~$128.
By end of q2, we anticipate a strong move down to previous support levels of around $0.20.
Patterns observed in various homebuilder stocks, not limited to Home Depot, run concurrent with anticipated cyclical moves in US and International housing markets. A move down to the solid black trendline, within 2 years, would validate our overall macro view.
A single reason not to be long at present levels: ascending parallel channel resistance on the long term monthly chart.
Our analysis of recession data from 1932-present indicates a strong corrective move < $2100, towards the long term trendline, is probable within 2 years.
We anticipate a green monthly close above the blue dotted trendline no later than end of q3.
Dotted red lines illustrate target range for q3 (no later than)
Weekly stochastics suggest downward momentum forming. Ample support to be found on the dotted blue line.
Clearly retesting the underside of a broken trendline. A necessary and healthy pullback, in our view, would stabilize around $1620.
Textbook symmetrical triangle en route to apex.
According to our charts, the post-breakout green monthly close led the equivalent gold futures upward move by ~30-40 days. The descending broadening wedge suggests bullish momentum is building.
Presently backtesting after breaking out of a 7yr downtrend.
Appears to be completing its third 7yr expansion and second overall 17yr peak-to-peak cycle. Dotted black trend line likely to break later this year, confirming recessionary expectations. Trough to end-of-peak: a) October 1978 low - March 1985 high b) July 1995 low - February 2002 high c) July 2011 low - December 2018 high Peak-to-peak: a) March 1985 - March...
Monthly breakout schedule w/data from past two 11yr intervals: 2yr hovering period at black support prior to uptrend breakout, first peaking at blue resistance after 20-months (Oct 98, Oct 08). Target > 55 by end of the yr.