Emerging Channel Up detected on BRN/USD – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 70.482 and it is expected to move to 69.3203.
NGC/USD is moving towards a line of 4.1530 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If NGC/USD continues in its current trajectory, we […]
EURUSD is heading towards the resistance line of a Channel Up and could reach this point within the next 18 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]
S&P500 has broken through the support line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 5632.5669 may materialize within the next 7 hours.
Emerging Channel Up detected on XAUUSD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 3027.35 and it is expected to move to 3098.7860.
You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 1872.8254 but consider reducing the size of your position as the price gets […]
