The US$ is little changed and the GBP has caught a bit of a bid but, apart from that, Forex action remains fairly quiet.
Bitcoin remains in focus as momentum and price action both decline within a descending wedge. The thought being that potential for a momentum breakout continues building within this, more often than not, bullish-reversal technical pattern. Traders should watch for any momentum-based trend line breakout.
The bullish-reversal Descending Wedge and Bull Flag are two of my preferred technical patterns as I find them very reliable. Here are some stocks setting up in similar patterns that are worth keeping an eye on in coming sessions for any bullish breakout or continuation from their new breakout.
US$ weakness has helped to trigger some risk-on style FX moves and TC signals but Gold and Oil are the key items in focus.
Silver is coming back into focus as the charts show a bit of upward movement with price action and potential brewing for some chart breakouts. This post starts with a look at the charts of Silver spot metal and then some popular US silver-based stoks / ETFs. With all of these charts, I’m on the […]