Long term: towards MQ
On a yearly basis: a type II is in progress. LY could continue to decline with a bullish T9. This PEI is the strongest that we know. Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.
On a quarterly basis, a bullish parallel pattern is in progress. A bearish no-crossover is in progress with our stochastic. MACD is overbought. LM should fail as a support, MQ is our next objective.
On a monthly basis, UM / LM spread is under the 2005 level. A bearish no-crossover is the status for our MACD. The status for our moving averages will be a type A.
Idea: monthly MACD as a leading indicator
Bet: as long as our monthly stochastic is not oversold, MQ is our main objective.
R= MM (1661); S= 1520 support, MQ (1332), PY (818) if quarterly MACD is not oversold on MQ.
Medium term: bearish?
On a weekly basis, if the status for our stochastic is overbought, a PEI will be the status for our MACD. Then a sell-off will develop.
Idea: use our weekly MACD as a leading indicator
Bet: Bearish as long as PW= resistance. Technical recovery as long as MW= resistance.
R= PW (1613.7), MW (1638.8); S= current low (1540)
Short term: a type II could develop
On a daily basis, UD / LD spread is expending. A PEI is the status for our MACD.
Idea: bearish trend with a PEI as a status for our moving averages
Bet: UD trend will continue to rise.
R= MD (1617); S= 1540, —
Conclusion: only a technical recovery as long as MD= resistance.
Bonjour Monsieur Cahen,
J’ai lu votre dernier livre récemment, je commence à mettre en pratique votre méthode avec des analyses de type économique sur l’ Or et l’EUR / USD).
Je me posais la question suivante : sur le graphe quotidien de l’or, y a-t-il un situation de pré-parallèle depuis le 8 avril ?
Je vous remercie d’avance pour votre réponse et je vous souhaite un bon w-e.
Thierry
Bien vu et bon WE.
Philippe