- Daily continues to show strong trend in favour of USDJPY Bears.
- 2nd chart with down trend line shows new lows being created.
- 4 Hour chart shows immediate support line or possible breakdown level. Fall below this line may trigger another correction for USDJPY.
- CUP and HANDLE and TRIANGLE of GOLD
August 12, 2016
- First chart shows Gold 4 Hour in a triangle.
- 4 Hour chart also shows the triangle as the Handle of a Larger CUP and HANDLE Pattern. This pattern mostly moves in favour of Bulls.
- If price stays for another week inside the triangle then bigger moves are possible out of the triangle.
- CRUDE OIL SUPPORT AND RESISTANCE
- Daily chart shows a possible rising support line. Confirmation of weakness on daily close below this line.
- Price is testing 20 Day SMA on its way up. More strength for bulls if daily sustains above 20 SMA.
- Month candle so far is giving hope for bears. But those hopes will fade away once and if price starts to trade above last month high which is 8674.
- CRUDE OIL CHART UPDATE
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