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DAX 30 & FTSE 100 Wedge Breaks Look Imminent, Catalyst Required
2021-06-11 16:30:00
Peter Hanks,
Strategist
DAX 30 & FTSE 100 Price Outlook:
The DAX 30 runs the risk of becoming rangebound if a bearish break is posted
The FTSE 100 has established a longer-term rising wedge dating back to January
DAX 30 & FTSE 100 Wedge Breaks Look Imminent, Catalyst Required
The DAX 30 and FTSE 100 have worked themselves into similar technical patterns over the last few weeks as both indices find themselves near the lower-bound of a rising wedge formation. Rising wedge patterns are generally viewed as bearish technical formations and, if the textbook example occurs, conclude by a breakout to the downside through the lower bound. Thus, the presence of such a formation on the European indices could suggest potential declines in the days ahead.
Gold Price Chart Posts Bullish Golden Cross Formation, Will it Rally?
2021-06-09 20:30:00
Peter Hanks,
Strategist
Gold Price Forecast:
Gold posted a bullish “golden cross” formation this week that could suggest further gains are ahead
Gold bulls will need to avoid further taper talk that could spark a USD rally and cripple gold gains
Gold Price Chart Posts Bullish Golden Cross Formation, Will it Rally?
Gold prices may continue to rise after the precious metal posted a bullish moving average crossover on the daily chart early this week. The “golden cross” formation occurs when a shorter-term moving average overtakes a longer-term moving average and many traders take the crossover as a hint that further gains could be in store. In the case of the gold price chart, the 50-day simple moving average has overtaken the 200-day simple moving average around the $1828 price point and may equip gold with the bullish sentiment required to push higher.
Bitcoin trades between two major technical levels as price action slows and the speculative fervor that drove prior volatility shifts to other assets. As a result, Bitcoin may require a catalyst be.