Today US CPI might drive the price to crab completion. Be prepared in 30 min.
Should the PA rise to 14880 look for this gartely completion. 1.15 has been marked and possible double top or lower high would confirm short entry.
This bear crab completes above 1.16 so not likely, unless something drastic happens. PA marked the 1.15 and retreated.
Just completed this morning. Looking at recent AUD lows and possible pullback in the 84s area this bat could provide some nice profit.
Trend Continuation at bear bat completion 8367, further into 82 even handle
CAC at the descending trend line created by previous 2 highs. Lower highs with lower lows suggests continuation of downtrend, much like the Norway OBX.
Bund invalidated the double top formed earlier with a breakout above 151.81 However, formed a rising wedge and tested the breakout line and wedge TL. Current PA suggests long until proven otherwise. Break of wedge and fork median is bearish.
Anticipation of a rising to 9300 level, where the 38.2 ret. would fall into nice support @7365.
Like Gold, Silver and Palladium, Platinum is preparing for the bullish run. First nice confluence is overlap of 127.2 and 23.6 @1257. Nice for first target on long. The second confluence is 61.8 (1392) and 61.8 (1388) which comes at nice structure and could be the second target on long. Look at the price difference Platinum vs. Gold
Nice rising wedge with Wolfe wave confirmation needed on double top for 5 and down we go into 942
SWC mining Palladium and Silver confirmed the low @11.83 climbed since $2 in 4 weeks. Potential growth to $18 and beyond. Certainly it would be nice to see 23.80 in the coming weeks of 2015. This is backed up solid RSI divergence and PA leaving the oversold zone.
$BVN dropped from Nov. 2010. top @57.20 to 2014 low @9. 4 weeks provided support at this low price still struggling to break the $10 mark. Fundamentally seen, a reasonable potential for growth in 2015 as PMs are expected to rise. Getting in cheap for a climb into $25.30 :)
With Oil price consolidating a bit Norwegian Krona stopped falling. Since NOK is heavily exposed to Oil, any bullish Oil PA will push the NOK up. $Statoil being the Norwegian largest oil company has a share of over 22% in the Norway stock index OBX. OBX is declining, Statoil shares shows a little recovery, so being long on NOK makes sense from the fundamental standpoint.
PA did compete the bear bat @1434 and provided a nice short hitting T1 for +68 and even the 50 fib for additional +33. Reversed to form another smaller bearish pattern - gartley for a new short entry. The short is safe till 1.14 even handle with further potential regarding the formed double top. If PA reaches the TL watch for bounce or break. Close shorts and go...
PA marked the fork, reached the 78.6 - 141.4 confluence zone making a Double bottom. This support is very vulnerable and possible touch of TL is very likely. If PA reverses up, daily close above 1.0857 will confirm the Double bottom.
Kiwi is trading in range favoring the downside. PA breached out of the fork but still not breaking 75125 to even consider the bullish patterns.
The PA came so close to complete the bearish butterfly that it could be considered as triggered regarding the formed Double Top. Both currencies are weak from the $ point of view. However, the next few days will show which one is weaker and trade accordingly.
Silver marked the daily descending TL and 161.8 ext of recent low @14 which is the Aug. 2009 low. The hard rejection of that low pushing the price back into CZ but failing to make a new high raises a question about continuation lower. This bullish flag forming could signify intention for a further bullish move. The number of net shorts dropped last week in favor...