GOLD sell confirmationVery clearly on the Weekly time frame, the Gold price is already below the cloud Ichimoku Kinko Hyo (Red), below the Supply Zone and this all indicates a strong decline, coupled with the RSI indicator which shows a decline as well. And my estimate Gold will continue to decline in the medium to long term.
CFD
WTI AIMING FOR NEW TOP!US OIL ON A KEY RISING SUPPORT
Since last week, Oil tries to break the next resistance and head towards a new yearly high. If that is to happen, at some point we will expect the price to pullback towards the blue trendline before gaining more bullish momentum.
The pair rose and started a consolidation.
Analysts expect next week pullback to finish and the price on the way at least the $77 level.
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Silver lost supportWe lost the support level at 22 the other day with a clean break and tried to reclaim the level but tested as resistance.
Would be surprised to see this down trend continue for a little longer yet.
Dont mind the short scalp right now but invalidated if we walk sideways or break this up trend for now
Trading Idea - #Apple (let's retest the resistance)BUY
ENTRY: 124.60 USD
TARGET: 136.00 USD (9% profit)
STOP: 118.00 USD
1. Support 108.98 USD / Resistance: 137.52 USD
2. While retesting the resistance line, the lows are getting higher. It looks like an ascending triangle is shaping.
3. Ascending support line (blue line) should give another upward impulse!
4. The company has high profit margins, which means a high level of profitability.
5. Apple's financial position is looking great, which means a huge investment capacity.
6. Apple pays little or no dividend.
7. The estimated company value of 5.80 x annual sales appears to be a bit overrated.
XAUUSD on the consolidationAfter previous week's drastic fall, the gold started its consolidation on the way up but on a certain price zone, the chart has faced the same resistance three times which is shown on the chart. After breaking this zone, we predict that the gold price will hike to 1785$ per ounce.
moreover, the chart has formed an a,b,c chart pattern. In this case the target is the length of a wave from the breaking point of b wave.
USDCHFPrice is approaching pivot level of 0.93329 where we have 100% Fibonacci extension level horizontal swing high resistance lining up. A reversal from this level might see price take support at 0.92396, which is in line with 61.8% Fibonacci retracement level horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 0.93864, which coincides with -27.2% Fibonacci retracement level, 127.2% Fibonacci extension level . This is further supported by how price is likely to reverse off the Stochastic resistance level .
Pivot:
0.93329
Why we like it:
100% Fibonacci extension level horizontal swing high resistance
1st Support:
0.92396
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support
1st Resistance:
0.93864
Why we like it:
-27.2% Fibonacci retracement level, 127.2% Fibonacci extension level
GOLD supressionStrong resistance at 1830 almost looks suppressed with how accurate that level is with consistent volume.
Not really looking for longs buying into resistance but break above here could see this wall break down and a lot of positive price action.
At the same time another rejection at this level could see another touch down to the support set around 1680.
Will reasses this trade when we are at that resistance level.
GOLD shortMetals havent been performing well recently and after the big drop a few weeks ago cementing the current trend I feel like this recovery will be short lived as we now head but the overall down trend once again.
Looking to target the previous support over the next week or 2, but if we break this trend and find support here i may bail early and look for the bull case and change in market structure if we can form a higher high on the HTF and then look for the pull back for a long entry
GOLD short term trade opTaking a position on Gold for a short term trade, broken out of the major structure after a solid bounce from the big drop a few weeks ago.
New structure forming over an important EQ level after the break out and now forming a bit of a bull flag.
Only looking for a short term trade here for now up to previous resistance.
GOLD ANALYSISGOLD broke a major down trendline
Price rebounded from uptrend line with bullish movement
Price is above the support level at 1809
Price is above HVN at level 1804 which indicates that gold is in the accumulation phase
RSI is above level 50
It's expected to target resistance level at 1860
GBP/NZD – Week 32 – Watching the support areaIn the last post for this pair (week 30) we correctly anticipated a move to the downside that would reach at least the blue trendline marked on the chart. For this week as we look at the 4h chart we give a higher probability for a move to the downside that would at least reach the support zone at 1.95500. After the move to the downside we must study the price structure to see if there will be a consolidation and continuation to the downside or a reversal to the upside. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.