Wednesday, February 22, 2017

Thursday Review


  • (bull) ES presented an inside range day w/ higher POC
  • (bull) YM & NQ presented higher POC/LOD/HOD
  • (watch) GC is consolidating between demonstrated resistance and trendline long
  • (watch) NG is demonstrating a bottom and possible flip w/ new contract ahead
  • (watch) CL supported with a rising trendline, failed to break higher, and regrouping
  • (watch) CL is developing it's new contract with three initial High volume prices

Monday, February 20, 2017

Gold Review

Long Term Monthly Gold
- See illustrations
- We are packing it in pretty tight in the big picture
- Bearish SMA50 & VWAP
- Demonstrated support at 20 year value area bottom

Long Term Daily Gold
- We are in the vicinity of the 20, 5 & 1 year Points of Control
- Presently, we have resistance stemming from an October swing low
- Price appears to be "jamming" against this resistance level
- Targets identified if we break out long
- See illustration

Intermediate Term (4 hour) Gold
- Targets better identified if we breakout above last October's swing low
- We appear to possibly be putting in a top at last October's swing low.

Short Term Gold
- Watch for intraday trades accordingly

Energy Review

The OPEC oil agreement has been holding oil tight.

Daily SMA formations are bullish

Watch for breakout long

The Intermediate view conflicting
- (Bull signal) Trend long is showing repeated tests into Resistance at $54
- (Bull signal) Reactions off $54 Resistance are becoming less pronounced
- Breakout above $54 would Target $55 and then the Price band level at $61
- (Bear signal) Examination shows a declining Trade Volume Index yet consolidating price

Ruling Reason:
1) Long is the dominate trend
2) Watch for breakout above $54 with $55 target
3) Watch for OPEC meeting in May
4) Watch the daily supply/demand bases for intraday targets