Intermarket analysis: Approaching a turning point soon
Updated
In my analysis, I have detected a few interesting junctures, that are soon to materialize.
The recent rallies in oil, Canadian dollar, oil, gold, Euro and S&P500 might close to a turn here.
The Pound is also at an interesting juncture, with some upside potential still.
Gold, is possibly reversing the long term decline from the 2011 high, so if we do get a sizeable correction after a top, it would be extremely interesting to go long when everybody starts to hate gold again (if it ever happens).
In the related ideas you can see my gold, silver and trade weighted dollar charts.
The trade weighted dollar index is showing the dollar aproaching a strong support, so this further solidifies the long dollar thesis I propose.
I'll be looking to participate on the different setups, depending on how the trends develop from here.
See comments for more details on the setups as we move forward.
If interested in receiving analysis and signals, or in participating in my mentoring service, contact me privately for details.
Cheers,
Ivan Labrie.
Time at Mode FX
The recent rallies in oil, Canadian dollar, oil, gold, Euro and S&P500 might close to a turn here.
The Pound is also at an interesting juncture, with some upside potential still.
Gold, is possibly reversing the long term decline from the 2011 high, so if we do get a sizeable correction after a top, it would be extremely interesting to go long when everybody starts to hate gold again (if it ever happens).
In the related ideas you can see my gold, silver and trade weighted dollar charts.
The trade weighted dollar index is showing the dollar aproaching a strong support, so this further solidifies the long dollar thesis I propose.
I'll be looking to participate on the different setups, depending on how the trends develop from here.
See comments for more details on the setups as we move forward.
If interested in receiving analysis and signals, or in participating in my mentoring service, contact me privately for details.
Cheers,
Ivan Labrie.
Time at Mode FX
Note
Youtube link to my coverage of the charts presented here: youtube.com/watch?v=1u5Q-HP5GiENote
I suspect the forecasted bottom in USDCAD has materialized.Note
It seems like GBPUSD failed to rally, and is now in a downtrend.USDCAD trend reversed apparently, or at least commercials have closed their shorts.
Gold commercials' position are evidently in action, they are net short. Wait for them to unwind to long gold long term. (see my gold charts)
S&P500 low volume resistance acting, wonder if we'll make it to the mode above 2075-2085 zone.
Oil moving back down on negative news, production cuts mean squat, and it's evident now since only Saudi Arabia could boost output.
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