Palladium Futures To $4,628?

Last summer I spotted a hot trading opportunity for you with 45% potential gain as Palladium futures were set to retest the all-time high. The progress was not as nimble as I thought; however, the target was reached this April as the price even overlapped it. Most of you supported that option, and I hope you enjoyed that gain.

Weekly palladium Chart

It looks like this champion metal offers another stunning opportunity for traders.

The crawling move to the upside since 2016 with a rocket style ending in 2019-2020 was marked as AB part. Continue reading "Palladium Futures To $4,628?"

Bitcoin, Ethereum, And Ripple Update

Bitcoin invalidated the short-term pattern posted last month as it pulled both sides’ triggers and then returned to the current equilibrium. The other large-scale pattern is good to go.

Bitcoin, Ethereum, And Ripple Update - Bitcoin Daily Chart

I assumed that the right shoulder has been in progress with a possible spike to the upside. The price accurately followed that forecast as the price even surpassed the previous top to mirror the extreme in the left shoulder. Both shoulders peaked almost in the same area as the entire pattern aligns horizontally. Continue reading "Bitcoin, Ethereum, And Ripple Update"

Gold & Silver: Fed Boosted The Dollar

Last Thursday, the dollar rallied, reaching a two-month high versus major currencies, a day after U.S. Federal Reserve shocked markets by projecting a hike in interest rates and an earlier end to emergency bond-buying.

Daily US Dollar Chart

The price broke above the black dotted trendline resistance, which does not look like a minor correction. Instead, I think this is an extension of a large retracement of the entire move down that started in March of 2020.

The market could build the second leg of this large consolidation marked with an orange color. I highlighted the last leg with a green zigzag to the upside. The current leg up could repeat the same two-movement structure, so I built the orange zigzag. The first move within a second leg up could be over. I expect the upcoming pullback to retest the broken trendline resistance. After that, the retracement could resume and hit the top of the first leg at 93.4. Continue reading "Gold & Silver: Fed Boosted The Dollar"

Dollar Struggles, Gold Consolidates; Oil To Triple Digits?

The U.S. dollar index (DXY) finally entered the anticipated corrective phase as I called for it last month.

US Dollar Index

The confirmation came with the breakup of a gray resistance. The structure is not as sharp as I expected as the price is still below the Fibonacci retracement zone. All spikes are still around the initial breakout peak, around 90.5. Continue reading "Dollar Struggles, Gold Consolidates; Oil To Triple Digits?"

Silver Favor Bulls; Bitcoin To Zero?

Let us start with the positive news; I spotted a hopeful sign in the silver chart. In my earlier update last month, I anticipated a correction to come in the dollar, gold, and silver charts.

Daily Silver Chart

The cleanest retracement among the assets mentioned above appeared in the silver chart as it met minimum requirements. Silver’s price broke below gray support, and the correction almost hit the 38.2% Fibonacci retracement level. It consists of two distinct legs down marked with red numbers. Continue reading "Silver Favor Bulls; Bitcoin To Zero?"