Good day for precious metals. The daily MACD on gold was losing momentum but it has rallied on over night along with bonds on the realisation that stagflation is taking hold. As I always say, the bond market is what you want to be following.
Gold daily is showing a nice continuation.
Silver daily has extended up to 50% Fibo
Copper had a bit of a pasting on the daily. I will not go long copper when it this far from the weekly kijun sen, no matter how tempting it is. This is a good example.
Oil weekly is on resistance and far from the flat kijun sen so not trading it at the moment.
Nat gas has held support so I have to watch for a reversal here. It has swung very wide of the daily kijun sen to over sold, so this is the perfect condition for my templates. Lets see. It is a possible fractal bottom there on support.