December 23, 2016

  • US Dollar Month candle yet to show weakness. But the Dollar bulls need the Month close to be at the current levels or Higher. Any close towards 100 lower will indicate weakness 
  • Weekly chart shows a range breakout Targeting 108 levels. Staying above 100 this target will be achieved in the short term. Weakness only on week or month closing below 100 levels.
  • GOLD Triangle and Trend update

  • Gold 4 hour chart continues to show the lower lows and strong bearish trend.
  • But the Triangle in one hour is showing some hope for gold bulls. A Breakout on the upside and a move past the 50 SMA in 4 Hour time frame can give a decent bounce.
  • On the contrary if triangle support breaks the prevailing trend will become stronger.
  • GOLD Month charts


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore