We have enough downside targets in play at the moment to keep us on our toes, but this chart allows a more optimistic outlook for the near-term. Notice the very precise bounce from the 1161.70 midpoint pivot. This validates the pattern itself, along with its p2 (1126.10) and D (1090.60) coordinates. To put those bearish targets in play, however, the futures would first need to breach p=1161.70. Since this has yet to occur, we needn’t necessarily expect the worst. To the contrary, if bulls were about to become resurgent, the first evidence of this we might expect to see would be a major downtrend reversing from its midpoint Hidden Pivot support, as may be occurring here. The futures were a speculative buy from 1161.70 in any case, but they could also be bought belatedly. Specifically, night owls can try bottom-fishing with an 1175.20 bid, stop 1174.80. That first number is the midpoint pivot of this pattern on the 15-minute chart: a=1180.30 (June 9 at 10:00 a.m.); b=1174.60; and c=1178.00. Take a free trial subscription that will allow you to access not only the touts, bulletins, updates and impromptu trading webinars during market hours, but a 24/7 chat room that draws veteran traders from around the world.
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.