Overnight Crude and Gold Trade Setup

The commodities made a nice run in the overnight session due to concern in Syria. Both the Crude and the Gold made a stunning move upwards. The Gold formed a shallow cup with a handle, while the Crude went up all the way to the hill and still climbing as of this posting. Seems it won't stop going up till the war breaks out.

 

Tuesday's Market Update

The market made an unprecedented move early in the overnight session due to main concern in Syria. The Gold formed a cup (or a double cup?) with a handle pattern as shown from this 15 - minute chart. While the Crude  formed a shallow cup. The Nasdaq made an inverse head and shoulder pattern that was originated from yesterday's session.

 

 

 

 

Monday's Market Update

The market made a different kind of moves today partly because its Monday, the first trading day of the week which is usually a gauging sentiment. The Nasdaq futures drops hard in the middle of the trading day when it move upwards into the open.  The Gold did not do any potential move except that it induce more volatility. Same with the Crude, though it gap up in the overnight open, it struggled for most of the whole trading day.

 

 

Gold Update

While the main market indices are struggling, the commodities especially the Gold is silently making its move to the upside. As can be seen from the daily chart below, it continues to defy the 'shorters' (the bears) and they are getting squeezed. The way I can see from my crystal ball is that it might reach the 1400 level and might consolidate a bit and then on the way to 1500.

Friday's Crude Trade Setup

A powerful reversal from the Crude market today. Notice that bullish hammer followed by another bullish candle that exactly move up from the hammer candle's closed price. Capturing this kind of move needs a lot of attention from the price action, and you need a wider stop.

Friday's Gold Trade Setup

Gold made a nice run from today's trading. Nice consolidation as shown from the rectangular area. This is where patience in waiting for the right opportunity pays off.

NASDAQ TO 'NASDARK'

The market was struggling moving upwards today when the Nasdaq (indices) experienced a breakdown around noontime and able to resume its trading activities two or three hours after. It's like a patient who loses its breath in the middle of the bypass surgery and was revive only through resuscitation. The chart below shows how it 'lost its breath'.