BasedWeekly uptrend formed and now the chart is signalling for long trades. As long as weekly trend holds we expect targets at 92.05 to be reached.
#GOLD Weekly chart continues to range and the bottom line is we need a weekly uptrend to form to enter long otherwise we wait. On the other hand monthly chart shows evidence that demand might break and cause a drop lower.
On the 3 month chart, we have always mentioned how we had a 3 month bearish engulf that was formed and that we should keep an eye on that. Why? Because bearish engulfs typically signal a bearish move until a demand is contacted and with this chart only a switch zone was contacted.
#OIL Weekly uptrend formed and now the chart is signaling for long trades. As long as weekly trend holds we expect targets at 92.05 to be reached.
#OIL Daily chart: We can see that there is substantial supply on the daily chart at 84.73 so
this should be taken into consideration for any long trades that are open.
$EURUSD Monthly demand was removed and now we have the weekly downtrend engaging for a move lower.
The daily chart needs weekly supply to be in play to short or daily demand out. (Weekly supply in play)
#USD We have a weak weekly uptrend right now with a doji demand zone which means any contact with weekly demand needs momentum to shift off the area before chart signals longs. (In play)
$BITCOIN Dropped from the 55k down to the 30k mark which is exactly what we had forecasted and then our targets at 52k were hit. We are now watching for the top to be surpassed and a drive in price to the 100k. New ETF created for Bitcoin investors. We should be seeing more manipulation of price going forward.
$AUDUSD The charts are telling us that no momentum shift was produced off the 6 month demand zone so the monthly demand is weaker and therefore could break and price drop. If it holds we would need to see something sustainable to produce momentum upwards.
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