Gold prices trading the major support zone on the monthly chart Potential bullish targets. RSI showing overbought in the short run. Bull flags and the Gaussian channel on the hourly chart. Monthly View We did a piece a few months ago on the multi-year support zone in Gold between $1,674.1 and $1715.5 here. The Gold Read More…
The Neckline of the Inverse Head & Shoulders pattern Daily chart is tested. Fibonacci targets revisited from last week. Price zones to keep in mind while trading today’s session. Quick Recap In our analysis from last week, the Head & Shoulders and Parabola were the main focus. CL price has broken the Parabola, which signals Read More…
Better-than-expected CPI report shows inflation may have peaked. A Double Bottom pattern forms on the Daily chart. Bull, Bear, and Crab trade scenarios. The CPI Report The November Consumer Price Index (CPI) Report released on Thursday shows that inflation may have peaked. Prices increased 0.4% month-on-month, and prices less food and energy rose 0.3%. These were low Read More…
The E-mini Dow has been decorrelated from the overall market this month. The Daily chart shows overbought condition. A small bear flag pattern appears on the Hourly chart. The Dow’s Decorrelation The Dow Jones (YM) Futures has been completely decorrelated from markets for the past month. NQ has fallen by 1% this month, while YM Read More…
ES price retraces into a liquidity zone at the same price as the Gaussian midline. Core inflation (CPI) and year-over-year inflation reports will be released tomorrow. A potential short-term 1-2-3 bearish pattern formation on the hourly chart. Daily Chart Analysis Looking at the daily chart, there are a few developments we can note. Toward the Read More…
Bearish target of $1,622 has been hit. Gold consolidating within a tight zone. Fundamentals playing a big role in the Gold price. Bears Target Hit In the October 28th article, we mentioned the potential for Gold to drop to the support zone at $1,622. As we suspected, the gold price has done just that and Read More…
