83.07 was a key resistance level identified in the reports today. If it broke through, it’s good news for the bulls! Next target is 96.58.
Candlestick Chart & Technical Analysis
•Short term Trend: Neutral – Bullish
•Medium term Trend: Neutral – Bullish
•Yesterday’s candle:
“We are pointed lower while 74.82 and 75.36 sit above.“
These levels were retaken in my absence and we rallied to a high of 82.675 last week. We have Fibonacci levels at 82.14 and 83.07 in play now then. If these can be seen off the bulls have a chance to get busy and we can target 96.58 next.
•Fibonacci says: On further upside 82.14 and 83.07 are references. – These levels weighed last week… something for the bears.
•Moving Averages/Indicators/other: MACDMoving Average Convergence Divergence - a technical analysis... flat-lining/small bull.
•Summary/Thoughts: 82.14 and 83.07 under fire once more.
•Favoured Trade(s) for today: Buy dips.
•Bigger Picture thoughts and targets: 82.14 and 83.07 are next for the bulls. – Failing here cheered the bears small.
Market Profile
•Profile setup/levels: 75.54 and 74.545 are vacuums left below last week.
•20-day CHVNComposite High Volume Node – “Composite” profiles; tho... More: 73.70.
•Naked VPOCsVolume Point of Control – The price where the most volume ... More below: 69.31
•Naked VPOCsVolume Point of Control – The price where the most volume ... More above: None.
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play below: 75.54, 74.545
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play above: 92.31
Support & Resistance Levels (Futurestechs’ SkewBar)
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 & 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.