spot gold 15 min over the last week shows 2 trends $1.30 box size by 2 reversal hilo plot note the 1244 pivot..horizontal red line needs to stay above 1250 areato maintain that new uptrend 1261 trend res/purple trendline lets see what happens
lol...the 1261 minor res got blown out within a few minutes lets look at the bigger picture 15 min data from new year 2 uptrends..green trendlines followed by a consolidation then a fake / a breakout above the horizontal red line...shorts quickly sent it back into the supp area then on 23rd/thursday the start of a new uptrend which then broke higher emerging market debt possibly the reason for a true break and not another fake so now we have a true uptrend to tack fakes can be very profitable...dont seem to see them that often
OUTLOOK FOR NEXT WEEK we go back to that latest uptrend and track it on the 5 min areas to watch for signals 1.could break higher..light purple horizontal res at 1272 area minor res /red horizontal at 1269 prev breakout point 1265 area thick dark red horizontal with trend supp then a bigger confluence area at 1257 area..trendline and horizontal lilac lines lets see
update to our spx futures chart lol..that support did not last long another sweet spot underneath at 1764 area brewing
eurusd approaching a big bull test prev breakout point and trend support 1.3420 area down to 1.3380 1.3600 res daily data enjoy the superbowl
spot gold outllook for next week 30 min data tells us a few secrets trend gets tested at 1253 area /green trendline 1246 area and we get the beginnings of negativity res is horizontal red at 1274 and look left at 1288 area/orange horizontal these are areas to take signals from..uneless big news and these break
eurusd 4 hour a couple of minor downtrends since the new year February is bullish and we have now a minor breakout plenty of horizontal res above