Gold has made an initial successful test of a bullish pitchfork set up, look to deploy long positions on a move back through the monthly pivot at 1775, pay close attention to how price responds at the major trend line resistance. Trade should risk free on the trend lien test, through the trend-line opens a test of the median line and prior resitance at 1917
The SP500 looks poised to test the pivotal equality objective sited at 4241, watch for bullish reversal patterns to develop in this area to set long positions targeting a fifth wave upside extension to test ascending trend line resistance towards 4750. Only a loss of 4090 would warn of a more meaningful top in place and extended corrective phase.
NZDCAD is testing pivotal trend channel support, watch for bullish reversal patterns at current levels to set long positions targeting a test of the mid channel towards .92. A closing breach of channel support would set a downside equality objective of .8320
DXY is test pivotal resitance at the 94 handle which represents projected weekly & monthly range resistance, projected ascending trend channel resistance, with the weekly S3 and yearly pivot just above at 94.15, also noteworthy momentum divergence should soon be addressed. Watch for bearish reversal patterns in this area to set short positions targeting a retest...
EURUSD is close to test pivotal support sited at 1.1628 which is the long awaited equality objective versus the 12270 B wave high, we also have weekly S3 and projected descending trend channel support, watch for bullish reversal patterns here to set long positions initially targeting a move back to 1.18
Price is currently in a corrective phase bulls will be watching for reversal patterns to develop on a test of the projected ascending trend channel support sited just below 34600, demand here will set a base for the next upside extension through prior cycle highs en-route to a test of the projected ascending trend channel resistance above 78000. Only a loss 28600...
Nikkei is currently correcting the bullish advance from its August low, bulls will be looking for bullish reversal patterns at the current C wave equality objective just ahead of 29000, demand here would then set the platform for a minimum 5th wave objective of 31789. A failure to defend 28265 would warn of a more significant topping pattern opening a move to test 24180
USDJPY sequence looks impulsive as such look for bullish reversal patterns after three wave pullback to test bids in the ahead of 110 area to set long positions targeting a move to test weekly projected range resistance ahead of 112.50 & 113 in extension
Copper prices are testing our first support in line with our 23.6% fibonacci retracement, 61.8% fibonacci extension and ascending trend line where we could see a further upside above this level. EMA and Ichimoku cloud are showing signs of bullish pressure as well, in line with our bullish bias. A break above our upside confirmation level in line with our...
Prices are approaching our support in line with our ascending trend line and horizontal pullback support level where we could see a further push above this level. Ichimoku cloud and EMA are showing signs of bullish pressure as well.
UKOIL bounced off 68.36 where it could potentially rise further to 69.34
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks
USDCAD is facing bearish pressure from descending trendline resistance as well as horizontal pullback resistance and is in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push down towards -27.2% Fibonacci retracement and 100% Fibonacci extension fibonacci confluence zone. If prices push up further, prices might face resistance...
Prices are facing bullish pressure from our ascending trend line and horizontal pullback support level where we could see a further push above this level. Ichimoku cloud and EMA are showing signs of bullish pressure as well.
Copper prices are testing our first support in line with our 23.6% fibonacci retracement, 61.8% fibonacci extension and ascending trend line where we could see a further upside above this level. EMA and Ichimoku cloud are showing signs of bullish pressure as well, in line with our bullish bias.
UKOIL reversed off its resistance at 68.42 where it could potentially drop further to 67.63
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Prices are facing bullish pressure from our ascending trend line and horizontal pullback support level where we could see a further push above this level. Ichimoku cloud and EMA are showing signs of bullish pressure as well.
Copper prices are facing bullish pressure from our first support in line with our 23.6% fibonacci retracement, 61.8% fibonacci extension and ascending trend line where we could see a further upside above this level. EMA and Ichimoku cloud are showing signs of bullish pressure as well, in line with our bullish bias.
