collected by :kiven Dixter
Several major markets are at or very near major long-term trend-lines or levels. Gold is at a 3-year trend-line, crude oil is approaching a 10-year trend-line, and the DAX & S&P 500 are both at 2.5-year bull-market thresholds. A break could lead to a sizable decline, especially if the S&P 500 breaks its own major bull-market thresholds. DAX Daily Chart (Feb '16 t-line, H&S neckline below)The S&P 500 has not only the February 2016 trend-line just at its feet, but running in confluence is the widely-watched 200-day MA. S&P 500 Daily Chart (4th test looks near, can it pass?)
Several major markets are at or very near major long-term trend-lines or levels. Gold is at a 3-year trend-line, crude oil is approaching a 10-year trend-line, and the DAX & S&P 500 are both at 2.5-year bull-market thresholds. A break could lead to a sizable decline, especially if the S&P 500 breaks its own major bull-market thresholds. DAX Daily Chart (Feb '16 t-line, H&S neckline below)The S&P 500 has not only the February 2016 trend-line just at its feet, but running in confluence is the widely-watched 200-day MA. S&P 500 Daily Chart (4th test looks near, can it pass?)
Gold Price Oversold; Technical Outlook for Crude Oil, FTSE, S&P 500 & More
Gold price is on the oversold side of the ledger, but below a key long-term threshold making the outlook mixed at the moment, but favoring a recovery. WTI crude oil is on the verge of testing the July '17 slope, viewed as a very important threshold. Gold price is oversold, but below big supportThe recent decline in gold price has it in an oversold state and due for a bounce, but working against it is the fact it is below the December 2015 trend-line. For more in-depth fundamental and technical analysis, check out the Q3 Forecast for Crude OilWTI Crude Oil Daily Chart (July slope just below)Brent crude broke the June 2017 trend-line on July 16, shifting focus lower. Brent Crude Oil Daily Chart (reversal bar on t-line retest)FTSE trying to break out, S&P 500 summer rally to continueThe FTSE is on the verge of trying to break free from an ascending wedge dating back a little over a month.Gold Price Prediction – Gold Tumbles as White House Introduces New Chinese Tariffs
as informed in Gold prices tumbled as the White House announced a list of tariffs on China that totals $200 billion. The list of 10% tariffs on $200 billion in Chinese goods, as the president's recent threats to escalate a broadening trade war with Beijing came to fruition. The tariffs will not go into effect immediately but will undergo a two-month review process, with hearings Augusts 20-23. {alt}ECB's Villeroy Said that an ECB rate hike possible through summer 2019ECB's Villeroy Said that an ECB rate hike possible through summer 2019. This ties in with recent source stories suggesting a rate hike possibly in September/October, rather than the December.Gold Price Bounces Off Support, Upside Favored
Gold price, news and analysis:- The gold price has traded within a downward sloping channel since mid-April. - Having bounced from support at the lower boundary, it could be heading towards resistance at the upper boundary. Our trading forecasts for Q3 have just been published; you can find the gold guide here. Gold price rally in focusThe price of gold has singularly failed to benefit from the recent "risk off" tone in the markets. Gold Price Chart, Daily Timeframe (Year to Date)Chart by IGCurrently, the trendline support lies just under $1,240 per ounce.
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