Tuesday’s peak has confirmed the USDCAD triangle. To me, this looks like a pattern that could provide either a useful buy off the support or a breakout short trade.
Before you look at the client sentiment index at the bottom of this post, are you a buyer or seller of gold? Which way do you think your fellow traders are positioned – long or short? It’s an important question. Gold has once again described a triangle. In working towards the apex (the pointy end […]
Asia Pacific Indices Australia 200 has levelled off in the 5,460 to 5,580 range consolidating its recent rally. Next resistance on a breakout possible near 5,600 then 5,680. RSI also suggests upward momentum stalling for now. Next support near 5,430 a Fibonacci level. Hong Kong 43 took out its recent lows near 23,585 to signal the […]
Asia Pacific indices Australia 200 is stabilizing near 5,600 for now but still appears vulnerable having completed a double top near 5,685 and with RSI falling under 50 to signal a downturn in momentum. Initial support appears near 5,555 followed by 5,500 and 5,430. Japan 225 keeps bumping up against 15,810 and failing, indicating strong […]
Asia Pacific indices Australia 200 has levelled off in the 5,600 to 5,685 range. RSI suggests upward momentum fading and it could be vulnerable to a regional correction. A retest of the 5,555 breakout point appears possible in a pullback. Japan 225 continues to roll over, with the index and the RSI drifting back from […]
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