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Spx500long

SPX Expanding Triangle. Pivot point (Weekly chart)In the weekly chart we observe another touch on the expanding triangle. This is a zoom in and cleaner TA from my previous analysis. I am trading the following scenarios: 1) Short. If this scenario is right, expect considerable retracement, following the direction of the red arrow. For me, it is the most likely scenario right now. There is very clear bearish RSI divergence on the weekly chart, in an expanding structure. 2) Long. If the expanding triangle is broken to the upside, in the retest of the trendline is time to go long. Be ready, this could very well happen. Thank you @RHTrading for the feedback.
OANDA:SPX500USD
by blondengineer
13
Recent strike in Iraq: Gold and SPX 500 Analyze The US killed this morning European time the Iran general Qassem Suleimani in Iraq. General Suleimani was a prominent person in the Middle-East and right hand of Iran's Supreme leader Ali Khamenei. It is very interesting to see how $Gold (+2%) and $Bitcoin (+6%) are correlated and both assets have surged. Meanwhile, the S&P Index has dropped by -1.7%. What does it mean? Investors are worried, as stated by Vice-president of U.S. Joe Biden, that President Trump "tossed a stick of dynamite into a tinderbox". Means, that we can expect some counter-measures from Iran and its allies. In these measures, investors see uncertainty in global markets and institutional money flows into more conservatives assets such as $Gold The most interesting for me is how uncorrelated assets are behaving in this conflict. I am talking about relationships among the U.S. Dollar Index and Gold. If U.S. Dollar is rising, Gold should dropping, but since the conflict has arisen, both are growing. I have expected rally in $Gold as I have outlined a bullish scenario on December 24th. Gold and Bitcoin are very correlated assets and we can see that there is some relief in a bearish downtrend since July 2019 in Bitcoin. Overall we can see how technical analysis is supported by “fundamental news” which put an injection into more rally. As a new year with also new Q1 2020, we can expect some bullishness in Gold and take out last highs in 2019 for continuation in the rally. Bitcoin should follow suit not only because it is correlated with Gold but also that Bitcoin will have in 132 days Bitcoin Bock Reward Halving which should tremendously increase Bitcoin price. ____________________________________________________________________________ I do a daily observation of major currencies in forex and crypto. Do not miss any move, high-valued analysis or educational content. Telegram: t.me Twitter: twitter.com
OANDA:SPX500USD
by UnknownUnicorn6034472
4