Gold Update: Old Is "Gold"?

Aibek Burabayev - INO.com Contributor - Metals - Gold Update


Recently, I was looking for my school notes amongst my old stuff for my eldest daughter to help her understand chemistry as my school teacher was a real fanatic on this subject. During the process, I found many things with memories from my youth, and it prompted me to call my old friends and discuss those handwritten letters that we used to send by messenger. We couldn’t have ever imagined that the digital era would come.

Quite often things from the past can help us today. I decided to dig deep into the past on the gold chart to understand what is happening with our frozen gold market these days. Bingo! He who seeks shall find.

Below is the chart with my annotations to illustrate the findings.

Chart. Gold Quarterly (Logarithmic): This “Vinyl” Could Play Again

Gold Update
Chart courtesy of stooq.com

First of all, I would like you to pay attention to the word “Logarithmic” in the chart title, which is usually abbreviated as “Log” in the chart options. It means that the Y-axis of the chart has log scale, which is nonlinear and commonly used for the broad range of the data. Continue reading "Gold Update: Old Is "Gold"?"

Disney Could Rally After A Long Pause

Aibek Burabayev - INO.com Contributor - Metals - Disney


In February my respected fellow author Noah Kiedrowski recommended that you to take a look at The Walt Disney Company (NYSE:DIS) and supported his view with an extensive analysis of the company, which has quite a positive outlook and sound fundamentals. He has been covering Disney for some time on the Blog and I am sure his focused research could let you find quite useful data about the company.

I spotted an interesting long setup on the Disney chart recently, which confirms Noah’s February outlook and I am happy to share it with you in this post. Now you will have his background analysis augmented with my technical outlook for a 360⁰ view.

Chart: The Walt Disney Company Monthly: Finishing Triangular Consolidation

Disney
Chart courtesy of tradingview.com

After examining the long-term chart of this fantastic company, I understood why my colleague admires Disney so much. This stock is like other great companies that are moving all the way up with quite long consolidations. The previous one was observed from 1998 till 2009 with seesaw moves of the wide range between $13 and $44 marks. After it broke loose, the stock just rocketed to the sky-high level at the $122 in 2015 with just minor pullbacks. The RSI then has reached an extremely overbought level at the 88 mark. Continue reading "Disney Could Rally After A Long Pause"

Canada Goose To Be Plucked Again

Aibek Burabayev - INO.com Contributor - Metals - Canada Goose


In this post, I want to share a chart setup. This one has a bearish outlook as Canada Goose Holdings Inc. (NYSE:GOOS) is showing signs of further weakness.

Chart Canada Goose Daily: Market Is Going To “Pluck” It Again

Canada Goose
Chart courtesy of tradingview.com

So many times, investors fail in an attempt to predict the top or the bottom of the market. The chart of the Canada Goose can be used to show a textbook illustration of this phenomena as from the end of 2017 the price of this stock was making new high one after another until it reached the $38 mark in February. I guess that investors started to short GOOS from $26 and above as the all-time high streak persisted. Continue reading "Canada Goose To Be Plucked Again"

The S&P 500 Has Two Options

Aibek Burabayev - INO.com Contributor - Metals - S&P 500


Back in February, I shared a map for the possible development of a consolidation that started at the end of January in the S&P 500 index. The expected drop followed the post although a little bit postponed.

As top metals are literally dead and still between the confirmation levels these days, I would like to update a lively S&P 500 index chart. For the gauge of American stock market, I prepared two separate charts as it has reached the crucial support and we could have two future options here.

Chart 1. S&P 500 Weekly: Make It Or Break It

S&P 500
Chart courtesy of tradingview.com

In the monthly chart from my earlier post I added the orange, medium-term support, which I highlighted in black in the weekly chart above. As we can see, that support already stopped the previous drop in February and did it again at the end of March. If the price would freeze at these levels without breaking below the former trough, then the Triangle pattern (orange) could develop as lower highs and higher lows shape it. Continue reading "The S&P 500 Has Two Options"

S&P 500 Consolidates, Is Another Drop Ahead

Aibek Burabayev - INO.com Contributor - Metals - S&P 500 Consolidates


In this post, I will share with you two maps as the S&P 500 consolidates to address two questions that are probably on your mind these days. The first is related to the long-term trend, shall we consider that significant ten percent drop that started at the end of January as a threshold for the long-term Bear Face? And the second question is related to the current situation, will this robust recovery continue further?

Let’s be diligent and answer those questions one by one.

Chart 1. S&P 500 Monthly: Consolidation Not A Reversal Yet

S&P 500 Consolidates
Chart courtesy of tradingview.com

First of all, I would like to draw your attention to the black long-term trendline support, which starts post Great Recession period. The S&P 500 is far above this trigger, and I guess that even the current consolidation could hardly reach it. So, for the long term Bear Face to start sellers should push the index below that trendline, which currently sits at the $2100 mark. As this is not the case now, there is no reason for panic then. Continue reading "S&P 500 Consolidates, Is Another Drop Ahead"