Merry Christmas! Let us take a look at our TTC watch list for the week commencing 11th December 2017.
GOLD has been in a consolidation between 1296.00 and 1265.00 for the last couple of months. Last week we saw price breakthrough support level 1265.00 which confirms the sellers have taken control. Our next area of confluence has been highlighted around 1200.00.
The 4-hourly chart shows multiple inside bars where price consolidates shortly before returning to the Bearish trend. We will be expecting price to fall below 1242.00. Remember the longer the consolidation the greater the breakout.
Gold 4 Hourly
We have had some great success with Boeing this year as we have seen price soar sky high. This stock has shown an aggressive Bullish trend which does not seem to be stopping anytime soon. Price has broken through $280.00 and we expect this to be used a support going forward.
Boeing has been relentless and we expect this to reach $300.00 within the next couple of months if not sooner.
This pair has been very choppy over the last couple of months. Despite this we have been able to establish consolidation between the down trend line and resistance zone at 0.875000. We would be waiting for price to clear resistance zone to confirm official downtrend before considering an entry. Remember to exercise patience and allow price to do the work.