Possible ascending triangle over the next couple of weeks.
If you are planning on short wait for the break at $43. Also we need this daily candle to close above $44 since that is the 200 day moving average. If not we can see a lot of bearish pressure.
As you can see we saw a bounce at the 0.382 fib level. In order for the price to proceed to higher highs gold must retrace itself and this was a healthy pullback. Target should be 1300
We are on wave 3 of the new crude oil bull market. I can see a run up to $58-$60 before retrace.
Every long term chart such as the SPX 500 or Dow Jones has the same historical factor. Once a trend is broken it must retest the support line to decide if there will be a new trend or not. So as we can clearly see in the chart the support was broken. We must retest the support line! Now we will have two factors for the long term. However it is bullish in the...
Descending triangle...However the NFP on friday can cause a movement to breakout upwards or downwards. Play it safe and just wait for the prefect moment to enter