Welcome to the video update for Monday, September the 28th. Trader Rick addresses the possibility of an inverted head and shoulders pattern on the weekly gold continuation chart. What do you think? See what the price projection is IF this pattern is valid. On the daily gold chart, price is now in the buy zone. Watch for a 3 candlestick pattern.
Price on the monthly crude chart is in the sell zone. We may get a monthly sell signal at the close of the end of this month on Wednesday. See where the level is. The daily chart shows price hit the D target of the ab=cd pattern this past Friday. This market also has the potential of a 3 candlestick pattern.
Trader Rick updates the dragon pattern on the weekly Canada chart. See if the dragon is alive or not.
Price on the daily 30 yr bond chart is right at resistance. Watch for price follow thru to the upside but make sure volume accompanies a breakout. If we don’t get the breakout, look for price to fall back.
Check out the charts for the euro currency, NQ, S&P cash and the ES. With the end of the month a few days away be sure to watch where price closes on a monthly basis. Slingshots and dragon patterns are updated where appropriate.
Good trading!
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