FibLines

FibLines

Mortgage Backed Securities ETF $MBB broke above its falling trend line a few weeks ago, now breaking out above horizontal resistance from last summer's high at 78.6 Fib retracement. $XLRE #realestate

FibLines

2.836 level in #copper has acted as support/resistance since Dec. Recent top at 2.885 was the 161.8 Fib extension from the secondary high in Dec. Price now coiling into desc. triangle which should resolve in direction of the trend. Breakout would set up run to 2.96 $HG_F #COPX

FibLines

$NG #NaturalGas has been horrible since November but maybe showing some signs of basing here? Broke and retested downtrend line, higher pivot low from the Dec bottom, price moving back into the bear flag channel. A move above 2.19 would set up 2.29 and be encouraging for bulls.

FibLines

#Oil stuck in 59 area after the big selloff. Looking for resolution next week. Brief move to 58.70 was concerning but buyers hurried in. All 3 support areas have held thus far. Channel intact. Bounce targets $61. Probability is to upside imo. If it breaks, support ~56. $WTI $USO

FibLines

10 YR Note futures just don't look bearish to me. Still in a rising channel, above 61.8 Fib retracement, pushing up from bullish wedge. $ZN Am I missing something?

FibLines

$TLT rallying off of rising trend support here. This is how I'm seeing the chart. RR here is very well defined. I think a break of 134 is a definitive failure, while the potential upside here is 158 (my Fib target zone). Resolution of this falling wedge coming soon.

FibLines

$DBB Commodities ETF looking poised for a multi-year resolution from this triangle within the next 8-12 weeks, if not sooner.

FibLines

Monster sell off in crude #oil, but we are coming into support at 59.50-60.00: horizontal, rising channel support & backtest of falling trend from Oct '18. RSI on 1 hr oversold & RSI on Daily hit rising trend. Not a bad area to look for a bounce w/ tight stop ~59. $WTI $USO $CL

FibLines

For all the #bitcoin criticism out there, this is an important move, breaking up from horizontal resistance and the falling trend line from summer. Big picture, the long term trend line held at $6300 and the trend remains up. $BTC #crypto #cryptocurrency #XBT

FibLines

Re: moves in #gold & #silver. Faded both & closed my futures positions overnight. Prices need to cool off. Gold way overbought (good LT, not ST) & daily candle forming shooting star. RR here not good. Looking for a reentry ~50% retracement from breakout @ ~1530. $GLD $SLV $GDX

FibLines

$MBB Mortgage Backed Securities starting to break out of its bull flag and longer term downtrend line. RSI already broken out.

FibLines

I've been watching the $1000 level in #platinum since the Sept blow-off. This morning we ticked that level, plus the top of the channel, and we are getting a hard rejection (shooting star candle so far). Big supply area. Needs a hard break above $1000 before next big move. $PL

FibLines

$XLE perfect backtest of breakout from symmetrical triangle. I love trading this type of backtest because RR is favorable and downside risk well defined $WTI $XOP $CL $USO #oil

FibLines

I'm not convinced that $TLT has given up the ghost. Looking at weekly close only TLT remains in rising channel from June '18. Support still holding. I still think this goes to 157-158. Bull case fails below 134 imo. (FYI - Using secondary highs/lows for Fib extension) Thoughts?

FibLines

Powerful move in #silver this morning. Look for some consolidation/pullback here as it works through supply. Get above $18.30 and the targets are $18.90 and $19.70 $SLV $SIL $SILJ

FibLines

Significant breakout in #oil today. Price broke through horizontal resistance & falling TL resistance in play all year. Nice follow through in $XLE as well. I'm targeting a push to $63 (Sept 19 high, June 18 low) $WTI $CL

FibLines

#Silver popping this morning, breaking out from its falling channel. $SLV $SIL

FibLines

The $61 level has been really important for #oil this year. Price is retesting now, along with falling resistance from the Apr and Sept peaks, and resistance from the rising channel begun in late Sept. $USO $WTI $CL $XOP $XLE