Candlestick Chart & Technical Analysis
•Short term Trend: Bullish
•Medium term Trend: Neutral – Bullish
•Yesterday’s candle:
“Yesterday’s gap up meant we broke the downtrend line on our chart which is at 12340 today. This is a bullish development”.
A dip to 12537 found buyers yesterday and we’re small bid overnight so the bulls are on top but not with any real conviction.
•Fibonacci says: 12780 and 13445 are the next upside targets. – Time to test the first of these.
•Moving Averages/Indicators/other: MACDMoving Average Convergence Divergence - a technical analysis... flipping back to bullish. RSIRelative Strength Index - The speed and change of price move... More off the lows.
•Summary/Thoughts: Big sell signal negated.
•Favoured Trade(s) for today: Buy dips/rips.
•Bigger Picture thoughts and targets: 12500 has been pivotal in recent months. – Back above here now.
Market Profile
•Profile setup/levels: 12669 is a vacuum left below overnight.
•20-day CHVNComposite High Volume Node – “Composite” profiles; tho... More: 12250
•Naked VPOCsVolume Point of Control – The price where the most volume ... More below: 12430, 11983, 11781
•Naked VPOCsVolume Point of Control – The price where the most volume ... More above: 13000, 13500, 13600
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play below: 12092.50, 12083, 11078.50, 11045, 11011, 10736.
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play above: 12870, 13093
Support & Resistance Levels
Key
Purple = Marabuzo lines
Green = Fibonacci level
Blue = Market Profile level
Orange = Trendlines/Chart Pattern levels
Clive Lambert FSTA – FuturesTechs
A 10-time Technical Analysis award winner, Clive Lambert FSTA has spent over 25 years advising trading desks on the Metals markets. Covering LME Base Metals (Copper, Nickel, Zinc & Aluminium) & Precious Metals (Gold, Silver, Platinum & Palladium), his reports are considered the industry benchmark, blending Market Profile and Candlestick Analysis to provide institutional-grade clarity for professional hedgers and traders.
Disclaimer:
This communication has been prepared solely for information and data purposes and is not intended as an Invitation or Inducement with respect to the purchase or sale of any financial instrument. This communication should not be regarded as a substitute for the exercise by the recipient of its own judgement. Any reliance placed on the communication is at the reader’s risk. Information and opinions have been obtained from sources believed to be reliable but no representation is made to their accuracy.