Fibonacci Retracements Fibonacci Chart of the Week JPMThis week's example is JPM and it deals mainly with the 61.8% retracements. We know that when a market is in a very strong position it will only retrace 23.6% and in order to keep the trend intact it must hold 38.
w.d. gann Wheat ZWZ20Wheat has taken out the long term swing point of 590.00, this area was a major Gann square 23.6% back to the 2008 high and 38.2% back to the 2012 high. The market had two major setbacks from this area, once
Fibonacci Retracements Corn ZCZ20The Corn has had a very impressive rally after they took out the long term swing point of 360.00 and held it on a retest of it on 9/28/20. It already has hit the first of our two targets, the first
Soybeans Soybeans ZSF21The Beans remain extremely positive as long as they stay above the long term swing point at 1020.00, this area has a major Gann square and is 23.6% of the current rally. The target is still 1170.00, this is 38.2%
Gold Gold & Crude Oil CLZ20 Oil continues to trade between the major levels of 37.00 and 41.50. Until they can either get a couple close's above 42.00, or below 37.00 the choppy trade should continue. Once above 42.00 the target is 51.00
Fibonacci Fibonacci pick of the week DKNG This week's pick is Draftkings, a young stock, but already showing good movement and an excellent stock to apply the Fibonacci retracements and their rules too.To start you must always use the extreme high and low and then work your way into
Fibonacci GOLD GCZ20 Like the Oil, Gold is caught between two major levels, on the bottom it is 1850.00, this is 23.6% back to the 2015 low and 38.2% back to the 3/16/20 low. On top is 38.2% back to
barchart trader Crude Oil CLZ20Oil is in the DEC. contract now and the story is the same, the bottom end of the trading range is 38.2% back to the 4/22/20 low, this is 37.00. The upper end of the range is up against the
Fibonacci Retracements S&P 500 ESZ20In the S&P use the 3474.00 major Gann square as the swing point for now, above it they go for new all-time highs and the 3690.00 major Gann square. Below 3474.00 is negative, but it will have to take
barchart trader WHEAT ZWZ20Wheat has now had a few close's above our long term swing point of 590.00, this is 23.6% back to the 2008 high and 38.2% back to the 2012 high and just below it, at 585.00 is a major Gann
Fibonacci Retracements CORN ZCZ20Corn remains well above the 200 day moving average at 347.50 and our long term swing point of 360.00, this is where the current rally is coming from. This was a major Gann square and 38.2% back to this years low.
Soybeans Soybeans ZSF21The Beans are trading above our long term swing point of 1045.00, as long as they remain above it the long term target is 1169.00 this is 38.2% back up to the all-time high, also in this area is the 1160.
Fibonacci Retracements GOLD Update GCZ20 Gold held the critical area of 1850.00 to 1836.00 and the rally from there, so far has fallen just short of 38.2% of the break at 1942.00. Like the Oil I think this can be the two levels this
Crude oil Crude Oil Update CLX20Oil has now hit the 200 day moving average at 41.12, after rallying again from the 36.50 long term swing point, I still feel this should be the top end of a trading range for a few more weeks, between these two
S&P 500 Update ESZ20 The S&P remains very strong, especially after holding 3337.25 (38.2%) on Wednesday. The longer term target is new all-time highs, however they did close right at the 3474.00 major Gann square and are into an area where a
Gold GCZ20 The rally from the first target area of 1850.00 to 1836.00 failed to get up to 38.2% of the break from the all-time high (1940.00). Like Crude Oil, the two key areas of 1950.00 to 1940.00 could be
Fibonacci Retracements CLX20 On a rally from the 36.50 long term swing point look for the 200 day average at 41.28. It still looks like the 200 day (41.28) and the long term swing point (36.50) could be the trading range for a
barchart trader ESZ20 Use 3337.25 as the swing point for the overnight. This is 38.2% from the 3421.75 high to the 3198.00 low. Holding this area should send them back up to new highs. If all they can get up to is 38.
WHEAT UPDATE WHEAT This was the update for 9/27/20 The Wheat remains the same, the swing point is the 530.00 major Gann square. Above it, look for the 585.00 major Gann square and below it they go for the 480.00 major
CORN UPDATE CORN This was the update for 9/27/20 Corn is now well above the 200 day moving average and sitting right on our long term swing point of 360.00, this is a major Gann square and 38.2% back to the 2019
Soybean Update SOYBEANS This was the update on 9/27/20 Now that they have hit both of these targets, 1045.00 becomes the long term swing point. On a break from this area the target is 945.00, this is 38.2% back to the
Gold GCZ20 Update Gold held the critical area of 1850.00 to 1836.00. This area is 23.6% back to the 2015 low (1845.00), 38.2% back to the 3/16/20 low (1850.00), 61.8% back to the 6/5/20 low (1845.