Wednesday, July 13, 2016

Gold in a resistance zone without any signs of weakness

Currently Gold is in a resistance zone (1300-1400) and hitting 1/2 Gann angle from the recent bear market.
Divergences: Nothing yet
Above 1400-1420 minimal resistance up to 1550.
Seasonality: Usually summer-autumn is a period of strength for gold.

Sunday, July 10, 2016

Rare Earth Metals(REMX): A rare opportunity?

REMX has a very good possibility of forming a long term bottom, an Inverted Head and Shoulders one.

A "rare" buying opportunity after 5 years of a relentless bear market?

SPX towards All Time Highs

After Brexit we expected SPX to move towards 1870 and then rebound above 2000.However SPX had a shallower and short lived retrace to 1980.Bears lost a chance to lead SPX much lower.But where do we stand right now?
Currently SPX lies above support (both in daily and weekly charts) with no signs of weakness and just below All time highs.The short-lived downmove of SPX after Brexit resulted in a ST buy signal at 2050 

Probably SPX will make new ATH soon.
Bulls congratulations!

Thursday, July 7, 2016

Crude is approaching triple support

Crude is approaching, while moving in a downward channel(? bull flag- wave 4), triple support at around 44-44.5.

Will it bounce?