Pattern: Triangle on 1D. Signal: Buy as the price has found support just above the 1D MA200 (orange trend-line) and within the 8-month Higher Lows Zone (green). The RSI also hit its own Support Zone. Target: 3.140 (the 1.618 Fibonacci extension). ** Please support this idea with your likes and comments, it is the

  Today Gold hit the June 19, 2020 low after a very aggressive 2-day selling sequence. The dominant pattern since the August Highs (All Time Highs to be more exact), is a Channel Down and to better illustrate it I have used the Fibonacci Channel. As you see most of the price action since the

  Pattern: Channel Up and Bullish Megaphone on 4H. Signal: Bullish once the price makes contact with the 4H MA50 (strong buy accumulation level since November). Target: 60.00 (top of the Channel Up), if seeking more risk aim at 62.50 (top of the Megaphone and 2.0 Fibonacci extension, which indicates the Higher High since November).

  Pattern: Bullish Megaphone on 4H. Signal: Buy if the 53.90 Resistanct breaks, as the 4H MACD and RSI is repeating the December 02 – 10 bottom fractal. Target: 56.00 (the 2.0 Fibonacci extension, which has been holding since late November). ** Please support this idea with your likes and comments, it is the best

  Pattern: Consolidation within the 4H MA200 (orange trend-line) and the 1,815 – 1,820 Support Zone. Signal: Buy as long as the Support Zone holds. If broken keep in mind that the 1W MA50 (ultimate yearly Support) is at 1,795. Target: the 4H MA200 and if we get a daily close above it, then the

  Attention is needed now for WTI Crude Oil traders as the asset has made contact with the 1M MA50. That is the first touch on that trend-line since February 2020, right before the massive March COVID melt-down. Last time this level was tested as a Resistance, recovering from a similar melt-down, was in December

  Pattern: Channel Up on 4H. Signal: Buy as the price is near the Higher Low trend-line of the pattern, the RSI near the Lower Low of its Channel Down and the MACD made the Bearish Cross Target: 50.50 (the -0.236 Fibonacci extension). Recent WTI signal: ** Please support this idea with your likes and

  Pattern: Broken Head and Shoulders to the upside. Signal: Buy as the top of the Right Shoulder broke. It appears that the price may be repeating the December 01-02 bullish leg. RSI identical, MACD on Bullish Cross. Target: 1890 (just below the 2.0 Fibonacci extension as did the Dec 01 leg). ** Please support

  This is a quick update on Gold. The price broke above the 4H MA50 with relative ease and this bullish leg (since November 30) resembles the sequence of October 29 – November 09. That wave, after a pull back to its 0.5 Fibonacci retracement level and the 4H MA50, it found Support and rebounded

  Yesterday I posted a long-term projection on Gold, which had to do with the importance of holding the 1W MA50. And so far buyers have defended this long-term Support: Today’s rise has been strong, indicating a powerful buying accumulation but that doesn’t mean that shorter-term traders shouldn’t be on their toes. The reason is