According to the seasonal chart, we can expect Gold to bottom this week. It also has a good accumulation, which is almost at a new top diverging with the price.
In Crude Oil the accumulation is also starting to pick up.
All that leads me to the conclusion that long signals should be preferred in both Gold and Crude Oil during the next trading week.
The signal in Crude Oil might not happen this week, but the pattern is already building.
Check the above charts again. They have something in common, something which marks the bottom (or top) very often. Can you see it? I'll give you a clue it is highlighted in yellow.
This is a complex price action pattern I've described in a mini price action trading course sent only to email subscribers. But since the Crude Oil price movements, from the last days, are very close to what was described in that mini course I've decided to make it available for free for everybody.
Are you ready to add a new pattern to your trading arsenal? Great, then visit www.talkingchart.com and start learning.
Founder of Piece of Trading
Trades mentioned here are either taken or will be taken by the author if the right conditions appear. They are NOT recommendations nor any of this constitute investment advice. Please read the Risk Disclaimer
Seasonal indicators courtesy of Larry Williams, ireallytrade.com. Charts made with TradeStation®. tradestation.com
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