FibLines

FibLines

Very likely near-term high for #palladium is in. Price top-ticked the rising channel resistance from 2016 as well as the top of the channel from Aug. Expecting a pullback thru yr end to $1800, which would be an interesting opp to add long @ horizontal & channel support $PALL

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$XLE Perfect 5-point channel from February with clean breakout. RSI breaking out. Could possibly see quick throwback to 60.40 (trend line retest & test of horizontal support), which would be a solid long entry from an RR standpoint $XOP #oil $CL $WTI

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Monster key outside reversal day in #bitcoin off of long term support, breaking out of descending triangle from Oct, and retesting after hours. A move above $8,000 could set up a quick run to $9400 #crypto $BTC $XBT $GBTC

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$XOP #Oil & #Gas Explorers turning up here with RSI breaking out on the daily. A close above $24 would likely take this ETF to $33+ quickly. Watching closely. $WTI $CL

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So many #bitcoin bears this morning. I know nothing about Bitcoin fundamentals/halving/wallets/keys, etc. I just keep coming back to the technicals of this log chart. Until this channel breaks, the long term uptrend is still the path of least resistance. $BTC $XBT #crypto

FibLines

#Palladium breaking out to all-time highs vs #Platinum is a chart I have been watching. $PALL $PL $PA

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$USD has frustrated bulls and bears for the past several years, as it has traded inside a historically narrow range w/o a clear long term directional bias. However, in both the short and long term charts, it would appear a larger, secular move is coming. fibonacci.com

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#Gold should resolve here very soon (next week?) w/ a $40-$50 move up/down from $1480. Based on bull wedges, 4-wave structure, RSI break & retest, & strength of miners, I lean toward this breaking higher. Waiting for a close above $1495 for confirmation. $GLD $GDX $GDXJ

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One for the #silver bugs. The $SIL / $SLV ratio looking to post back-to-back weekly closes above horizontal resistance. Silver miners outperforming silver: #notbearish

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$HYG High-Yield Corporate Debt pushing up against resistance from decade+ symmetrical triangle. A breakout here would send a strong signal about risk appetite in the markets.

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Important to be patient here with $USD. #Dollar has traded in this channel for 18 mos and is sitting at rising support which has been tested 4 times in that period. RSI not oversold Bears should wait for break. Bulls should look for confirmation that channel holds. $DXY

FibLines

This is the chart of S&P Futures priced in #Gold. There are a couple ways to draw this channel (one where the channel hasn't broken), but I favor this interpretation where support turned to resistance. I am watching closely to see how this resolves. The Fed announcement tomorrow should bring a clear near-term direction. $GC $GLD $SPX $SPY #SPX

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S&P500 backtesting the channel from mid-October that broke down on Monday, and making a second attempt to break above ATHs ~3160. There's some supply to work through around that level.

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#Gold at really key level here. Price recovered uptrend channel on Monday, but rests on horizontal support & rising trend line from Oct '18. Breakdown here would set up retest of 1450 and possibly lower Bulls need gold to move higher right here. A break above 1495 would signal a new leg up has begun. The miners continue to show strength, which is a good sign....

FibLines

S&P500 Futures (4hr) coming up on horizontal resistance from the 11/24 gap up. If it can push through here, look for a move to the prior rising trend line at 3140. Initial support comes in below around 3070-3080 if it fails

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US #Dollar - Long term chart hitting resistance at 38-year falling trend line Short term chart hitting resistance at 78.6 Fib and prior support from 2016-2017, but still in rising channel $DXY $USD

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Anyone else watching #palladium print new all-time Highs? $PALL $PA Next stop $2200?

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#Gold just broke above horizontal resistance & now looking to break up from August downtrend channel. A move above 1495 would resume the uptrend from 4Q18 (channel support recently held) RSI also breaking out from declining resistance $GLD $GC $GDX $GDXJ $SLV