PA is squeezing into the end of the ascending triangle but a big reversal? not likely
Chart shows the completion of the C part at the long term 61.8 FIB.
PA has broken out of the 2 week trend channel giving way to a possible fibonacci trade. This short allows for the selling into the retracement therefore targets are strict. On the Daily, this target at 0.72100 is the area for a 61.8% fibonacci retracement where a buy opportunity will arise to trade the daily extension however in the current climate more downside...
A nice long of historical support, confluence with the 50% fib retracement and bounce of Kijun support
Coming through the KUMO as a reversal setup, price will be expected to range between 1100 and 1300 until the autumn months of 2015. IF the lagging span clears the cloud in bearish territory there is potential for 1029 and further 722. However at a crucial 61.8%FIB retracement level there could be long positions made here. Overall, the chart shouts short positions...
Gold has reached a high oversold RSI with the ichimuko highlighting overselling and distance from equilibrium. XAUUSD candles shows resistance along the supporting trendline for a pullback to 1200, which will be a short entry opportunity,
The OPEC discussion In November 2014 has ultimately confirmed the formation of a triangle on the monthly chart. The WTI crude has replicated somewhat the momentum of the 2008 crash. Giving way for a probable bullish correction in the net 1/2 years. Rejection at the supporting historical TL will push price back upward toward the 50/61.8% FIB levels where...