Amazon Chart Presents Buying Opportunity

In April 2018, I published the post with the title “Disney Could Rally After A Long Pause”. I spotted an interesting long setup on the Disney (DIS) chart that time. Below is that monthly chart of Disney stock with the bullish setup.

Disney

The combination of higher tops and higher lows has shaped the famous Triangle (Symmetric) pattern highlighted in blue.

The neutral position of the relaxed RSI indicator and the double trendline support on the chart facilitated the bullish opportunity. The target was set at the equal distance of the widest part of the pattern added to the breakout point. It was located at $149 with a potential gain of 50% as the stock was traded around $100.

We can see how it played out in the next chart. Continue reading "Amazon Chart Presents Buying Opportunity"

Gold & Silver: The King Fights Back

The benchmark 10-year Treasury yield spiked to 1.61% last week for the first time in more than a year. The U.S. dollar, aka “King,” fought back to the upside on this growth of the yield. Investors ran out of other assets, including precious metals, and its price dropped.

Let us see the updated structure of the U.S. dollar index (DXY) in the chart below.

dollar

It looks like the DXY moves according to your favorite orange path to the upside that was published last week. However, the sharp drop below the earlier valley eliminated both scenarios. Continue reading "Gold & Silver: The King Fights Back"

Watch Gold, Leave Silver Alone

It is time to update the charts as gold triggered the former valley of $1765 last Friday.

The U.S. dollar index (DXY) opens this post.

Dollar Index

Most of you agreed last month with the plan that the dollar index will extend its consolidation to the upside, making a zigzag first to the downside and then to the upside with the target area between 91.40 and 91.80 (blue box). The former was your favorite goal, and it was hit with a margin as the price reached 91.60 at the top of this month. Continue reading "Watch Gold, Leave Silver Alone"

Is Platinum A Runaway Train?

It looks like my post titled "Platinum Could Rocket To $1912" published in November 2019 could turn prophetic as the price of platinum price is moving quickly in the direction of the called target. The majority of readers supported this idea at that time, although with a small margin.

Below is that very chart where I shared the global structure for the large complex correction in the platinum market.

Platinum
Chart courtesy of stooq.com

To remind you, the idea was that leg 2 to the upside (black up arrow) should complete the "joint" between large red legs to the downside. It was thought to retest the top of leg 1 above $1900. The price was at $890 then. Continue reading "Is Platinum A Runaway Train?"

Can You Imagine Bitcoin At $103,000?

Some investors believe that the price of Bitcoin could hit $100k. In this post, I'll share some measurements I made in the bitcoin chart to see if there is some evidence for such strong optimism.

There is a logarithmic (log) monthly chart of bitcoin below. I chose the log scale to show you the coin's relative performance. It will reveal the different angle of view on the price dynamics for you.

Monthly Bitcoin Chart

We can highlight two completed large moves to the upside marked with numbers accordingly. On the right side of each move, there are light blue statistics windows showing how much, how long, and how sharp the move was. Continue reading "Can You Imagine Bitcoin At $103,000?"