If Oil, gold and SPX stay linked, here is one possible set of pa
LEFT CHART Oil: I expect oil to hit the top of longterm channel (orange line) where it will likely be rejected softly, then break it again and retest... at about that point the 20DMA may cross the 50DMA which will cause a strong surge (like the past gold rush)... my PT 36,09 but could be higher.
MIDDLE CHART Gold: Looking for a possible H&S here, with a breach back into the long term channel, some flux for a bit and then the BIG move many believe is coming.
RIGHT CHART SPX: May test the middle of the W 1933ish is the next few days and then some flaggish movement towards a 50% retrace of losses from all time highs. Final PT 1973 with a sharp decline right after.
Since these 3 have had related movement patterns, I've done them all together - which could of course go WAY off course if any correlation breaks or changes... just some ideas if we stay on the same track for a bit.
MIDDLE CHART Gold: Looking for a possible H&S here, with a breach back into the long term channel, some flux for a bit and then the BIG move many believe is coming.
RIGHT CHART SPX: May test the middle of the W 1933ish is the next few days and then some flaggish movement towards a 50% retrace of losses from all time highs. Final PT 1973 with a sharp decline right after.
Since these 3 have had related movement patterns, I've done them all together - which could of course go WAY off course if any correlation breaks or changes... just some ideas if we stay on the same track for a bit.