Auguraltrader

Auguraltrader

Decided to start looking at the Agriculture ETF, DBA. Had been viewing it for years now since 2009, but it was in a long downtrend that never seemed to end, until it did in mid 2020. With a fierce initial upside, and a stall in the previous months, it appears that there might be some retracement to about 18-20 levels, before a real launch. Much is said about...

Auguraltrader

The monthly Crude Oil chart shows some seriously nasty ranges. From early 2000s, we have had monthly close check-ins from 20-140; and it does appear that the current dash for the upper end of the range is stronger in momentum (acceleration as seen by the slope and the size of the candlesticks). Taking history into account, it should slow down once crude is about...

Auguraltrader

A mid-year check of the S&P500 futures ES1! show an uncanny resemblance to the beginning of 2008. This has been reiterated by many already over the recent months, and it appears to continue as outlined by others too. In the monthly log chart, there is an eerie resemblance that might bring the S&P500 to 2600-2800 levels, if by a similar magnitude to...

Auguraltrader

Previously been highlighting China, particularly as Chian equites have been misunderstood, maligned, and assumed to have downside due to their tough COVID-19 strategies. As expected, GXC launched with a gap up. However, this gap up did not translate further into a gap and run, but instead stalled. In view of the overall technical picture, it appears may have...

Auguraltrader

It has been weeks (maybe months) since Crude had yet to commit to an up move (clearly) although it gave early indication of the imminent move. This past week was volatile and eventually closed the week relatively bullish. The weekly MACD crossed up and appears set to continue the momentum, slowly but surely. The daily chart shows an invasion into a gap area,...

Auguraltrader

Two weeks ago, the NASDAQ jumped after bouncing off a support level and tested the 13K resistance... which appeared to have failed, given the Dark Cloud Cover candlestick ending to the week. The daily technicals do not yet tell of a down slope slip, but it should be following through. And if it does, then we have this Down Friday Down Monday thingy... means more...

Auguraltrader

Just a quick update that the first trading day of a shortened week, in the pre-market hours, is seeing crude oil prices spiking in excess of 119. As previously mentioned, was already in the works for weeks. Now very clear. Hello to more runaway inflation…

Auguraltrader

An interesting observation here... The weekly chart for INDY has recent bullish candlestick patterns after bouncing off a long term support level at 41.50. This is the second test in 2022, and the bounce closed above the next (gap) resistance level, above 43. The technical indicators are turning bullish, as RPM tuned up for a crossover. The daily chart shows...

Auguraltrader

As previously described, yes, the GXC ETF appears to have found its footing to launch. The weekly chart has clocked a higher low, and this week's candlestick is a nice bullish one with a long-ish trailing tail at the bottom, which is a bullish indication. The daily chart shows the week closing at a gap resistance, and above the MA band. Technical indicators are...

Auguraltrader

For the past month or so, been talking about higher Crude prices in the making. Here we are closer to that... The Weekly chart closed at a monthly high, and with such gusto that it is the most bullish looking candle in the past 6 weeks! This came after many indications and warnings from weekly candlestick patterns and daily technicals as outlined previously in...

Auguraltrader

AS previously described, Gold was in a deep retracement, and it appears that this week, the retracement is done. Weekly chart shows a reversal candlestick pattern over the past three weeks, finding the week's close at a resistance level. Look for a breakout in the coming weeks, as Gold closed above the weekly 55EMA this past week. Do note that previous mapping of...

Auguraltrader Updated 

Previously bullish on Crude Oil, especially after it met expectations to break out of the triangle. However, it did meet resistance and failed with a gap down, pushing back to retest the triangle. At this point, pre-(US)market hours, Crude broke back into the triangle, which would be bearish in nature, expecting an exit on the other side to ensue in due...

Auguraltrader Updated 

The dead cat bounce only lasted a couple of days, and it gave way soon and very quickly yesterday (pre-market). This breakdown was with decent downside momentum, and was also off the 50% Fibonacci retracement level, as observed in the 4H intraday chart above. By projecting forward using simple geometric extensions combined with Fibs, 10,800 is the next downside...

Auguraltrader Updated 

Just as Gold and equities plummeted over the last 4 weeks, GDX was in no way spared, losing at least 25% from 4 weeks ago. An absolutely deep retracement following Gold prices. Daily candlestick pattern suggest a brief consolidation at current levels, 30-31. Do not yet see a bottoming pattern... not yet.

Auguraltrader Updated 

The NASDAQ (and other equities indexes) closed the week on a strong rebound, having reached a lower support (11700). The resulting weekly candlestick is one with a long lower tail, suggesting a possible test to regain the 13K level. The daily chart closed the highest for the week, and similarly projects a somewhat cautious bullish outlook for the incoming week. I...

Auguraltrader

Crude oil, as previously heads up, has broken out of its triangle decisively. It is now needed to clear 120 to continue its uptrend comfortably, with a near term target of 125. Nonetheless, daily technicals are supportive, with bullish candlestick patterns, so 125 target is deemed reasonably attainable. Longer term upside targets are 155-160, by early June, which...

Auguraltrader

LUNA (and UST) rocked the (crypto) markets last week, and hogged the headlines. There were many who got wiped out, and the prospect of recovery appears very remote, if at all. Here I would like to share why I chose LUNA to be a major part of my portfolio, entered and managed the trade (I would not term this as an investment, really). I hope that this sharing can...

Auguraltrader

Just looked into Solana and can’t help but notice a triangle formation. The recent crypto rout dislodged it out the bottom of the triangle, and it appears to have popped back in. Noted that typical failures of pattern failures indicates the direct opposite; for this case, exit and Dee try into the triangle at the bottom suggests that it should find the exit of the...