Targets for Trades

Most of the assets have broken on the downside from their respective patterns so far.

Gold broke down from the triangle and the target is $1,687 which is $7 shy of Oct 31st bottom. The sell entry is at $1,767 and the stop can be moved down to $1,767.5

Silver also broke down from the triangle and the target is $30.4, just above Oct 20th low. The sell entry is at $33.72 and the stop now is at $33.97

Crude oil (WTI) exceeded $100 but was rejected at the upper wedge line that also coincided with May 30th high of $103.35. But the game is not over for crude until it breaks below the bottom line of the wedge.

FTSE100 broke below its rising uptrendline but we still need to see a fall below 5,334 to confirm the downside. This level is actually the neckline of a complex head & shoulders pattern.

S&P500 so far had a fake breakdown but is now within the triangle. Daily close below 1,220 will confirm the downside

The only non-player is the DAX30. It still has not broken down from a Descending triangle and is not confirming the bearishness we are seeing in other assets. Something is wrong here!!!