 The following is a presentation of TFNN Trade what you see with Larry Pezzavento toll-free at 1-877-927-6648 or internationally at 727-873-7618 now Hi folks Baselchappan city for Larry Pezzavento, I believe Larry's nothing that well So I said, you know what I can switch things around I can make this hour available Because there's a lot that I wanted to do in my show the Tiger technicians hour that I never got to I want to do the Currencies I want you to do the commodities so I thought well Let's just do it right now and I need to do for my own for my own work and for my subscribers So I thought great opportunity and of course we all miss Larry and no one can replace Larry Pezzavento So I'm just using the hour and that's look at it the dow is up 594 at 30,483 that little doji candle on Friday with on balance volume Extremely oversold remember. I never took about oversold over over bought in the stochastic or the MACD I say they're getting to a level that I it tells you that it's in a cell mode area That's under 10% or above 90% which is very bullish for the stochastic. That's different The on balance volume does give me turnarounds if you want to look at this vertical line Look at this vertical line right here that peak in the on balance volume Which occurred almost at the top at thirty thirty two thousand two hundreds when the Dow made its last big move to their peak a failure pattern So there's a chance that we're looking at a turn around here with the on balance volume Maybe turning up today and continuing from an oversold condition. So it's one of the reasons why we are along the Dow and Going into Friday. We're getting very over oversold and that was just a reason for having long positions in a number of areas So and right off the back. We've got who do we have? We have a call we have Paul in Claremont, Florida. Hi Paul. How are you? Hi, how are you doing? I'm doing well. Thank you I was wondering a good entry point for steel dynamics STLD So still dynamics STLD as as Paul mentioned is the symbol I Looked at a number of these steel stocks and I did this for subscribers not this past I think I did some of it this past Sunday, but last weekend on Saturday before I did them And I said there's a problem here with the steel stocks the SLX, which is my indicator Which is the steel ETF that fan egg vector steel ETF You can see closed underneath the 200 period moving average About a week ago and it's continued lower and even today. It's only up 66 cents at 53 27 if I look at X Which is your steel lousy day today. It's up four cents at 19 point 19.93 if I look at Was a nu e I believe new core nu e Horrible ahead of gaffy it gapped up today at the open it again. It's opened at 119 run number high. That was also That was the open and the high of the day and here it is at 113.81 So this is telling me in the big picture We're not done in this whole recessionary aspect for in fact in fact If we talk about recession and I'll go back to your question about steel Sdld now still dynamics. They do they're in the steel business, but it's a little bit a little bit different Let me just see clf. I think is also. Yeah cleaver and cliffs ink flat roll steel and iron ore pellets Also very poor action at a fantastic high of 34 Almost around number high and here it is at 17 cutting a half So I tell me about it I played that lost my shirt. I I didn't I never sold out Oh, you know the selling out is just so important. It's just It's a It's all all controlled by options and shots with the with these steel companies That's why you know, I mean cliff cliff is famous you look at on a monday and you know, just where it's going to close friday Same with x but these two new core and steel dynamics they're limited on options Steel dynamics is probably stronger that way. There's there's not a lot of manipulation But today with the market up five six hundred points. This thing's doing nothing So that is telling you that in the well first of all steel dynamics right now One two three four five six it gapped down about seven sessions ago And it's for the last six sessions including today It's hugged the 200 period moving average at 71.22. So this is what I would recommend I follow steel dynamics for years I don't think we've ever ever had a position in stld, but I have followed it Because it's one of those stocks that I forget about and then I say oh What about and then it's either had a huge move up or a huge move down? I said, how did I miss that? Well, the fact is I the fact is I'm kind of pleased that it's off my list It's only a wash stock that I just I just keep it there as I do waste management And a couple other stocks that are in the the big big cyclical area and this is in the cyclical area So if you had asked me, what about the monthly chart? I would have seen this is not bad the monthly chart goes to 100 comes down to the 70 area or 69 area When you think that it's a steel company I would say that's good but if you if if you think of Of the way I'm trying to look at the market by saying different areas When the administration or anyone talking about the administration talks about recessions and anyone on wall street I always say, you know If you go to the different areas look at syntas, this is now overalls uniforms rentals In a shorter term from december They've basically been in a recession if you look at the slx, which I'm as a group the sector itself Steel as a group from april They've been in a recession the deepness of the correction tells you that sales is not We've only got in this particular instance. We haven't even got one full quarter yet, but it tells you that The earnings Have to be disappointing at this particular point until there's a turnaround and that to me says in a way you can consider it as part of not the global or the the country-wide But second in a sector itself. So I think that since april We've been seeing a big slowdown in the whole steel sector So when does it catch up and and all of a sudden to my rule of thumb In fact, I was going to talk about it today When the economists finally say We're in a recession As long as I can remember that's pretty much almost going to be the low of the market So we've still got a little bit of a way to go But i'm just saying to you Be real careful with steel dynamics the fact that it's hugging the nine period the 200 period moving average For six sessions and even today trying to get above it and it just says I would lay off i'd rather be buying like a peak a really strong peak b So that you get a peak that you missed and then it pulls back and then as it takes out that left side high I say aha the stochastic considered being at nine percent is maybe a 12 percent the magnis starting to improve That's the way I would trade it but Right now I think it's stuck I don't know if that helps you for Yeah, I have I have a buyout around at 65. I'm willing to hold it there Oh, I like that. Hey, let's let's talk again as it's getting close. Give me a call and we're looking at it together Okay, okay. Thank you Thank you. Good. That's a good eye. Good good plan At the time of blooming inflation, we are purchasing powers eroded. 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Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market Overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon Sign up for steve's market newsletter Mastering probability and you'll receive access to seven of steve's educational webinars Absolutely free at tfnn. All our newsletters come with a 30 day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors All now toll free at 1-877-927-6648 internationally at 727-873-7618 Hi folks, so the Baselchap is sitting in for the hour for Larry Pizavento's hour I'm going to do a bunch of the commodities. This is goes to the e-mini the 10-minute chart of the S&P e-mini Had a big spike earlier this morning. It was down at the Just above the 200 period moving average to the 37 24 and then whoosh it screams up to 37 81.25 Now I could give this an alternate count. I could call this an f now one of the things that I wish I really must Speak to chase station one day. I've always wanted to do this. I'll see if I can do it this way I've always looked at chart patterns and said there are times where the x axis can give you the y axis Either the time or the price and it sounds funny But if I had a compass and I could put the little the little pin right there And draw the arc like that You'd be able to get as much on the side That's a horizontal line as you got to the upside And this says that it's a little bit overdone right now and it could pull back So I'm calling this a peak b if there's no new high in this 10-minute bar And then I think we should squeak to a c and then squeak to a d. It doesn't have to go that much higher So I still see upside action as possible unless There is a close on a 10-minute bar That is the full bar itself closes under 37 62 We have 37 74 right now the close says you can have to restart an entire buy mode But the mag is fantastic. The stochastic said 92 what more could you ask for that's what you want Relative strength to just pull back a little bit and the on balance volume did give you a little bit of a reversal Overboard situation right here, but I'm looking at this and saying it is still positive in the 10-minute chart But you did get a peak e in the one-minute chart and you pulled back and you remember what I said earlier I did I do this during this show or during my show? I said look at the look at the nine period moving average In the one-minute chart remember larry's all about particular techniques Tom O'Brien Tommy O'Brien Steve Rhodes Dave White. We're all here without different techniques. And that's one of the reasons why we have so many people so eagerly listening for years and years and years here at TFN because It's it's information that's been based on years in many decades in some cases of not just experience but testing and and retesting different techniques, but look When the nine period moving average went green at 907 this morning It stayed green all the way to 1112 And at nine wouldn't I say did I give a price at 37 33? Let's go to the high of the day not even the low not 37 33 Was the was the number and 907 and let's go to the low of the of the minute bar That's I'm talking about the minute bar right here when it went pink at 1112. Let's go to three three seven 3776 I would say What is that? That's a 40 point 40 point move With one technical thing in a one-minute chart. Is that not a fantastic indicator? Look at that 200 period moving average resistance resistance and then whoosh rocket ship to the upside And now it's pink So that's just one little technique now enough with that. Let's just go to all the different things. I said I would do During Larry's hour because I know a lot of people are listening to The commodities that's what they're interested in if you look at the dollar The dollar is turned down from a peak gsas c so far. I'm thinking that I'm going to keep the The alternate count But most of it really looks like we've probably had 105.79 We could be seeing some kind of a pullback. However, I like to do this Look the weekly chart The stick the magnate is just flattening out a little bit still very strong the stochastic's flattening out under 80% I love over 80 percent. I love over 90 percent, but it's now at 79 16 So there's a little bit of weakness, but that nine period moving average We're talking about it just a moment ago in the one-minute chart Look at this weekly since it broke above Right there the week of the 25th of june a year ago exactly 25th of june 2021 the dollar My indicator and we've been along the dollar since 90.07 back in 2018 We've watched go to 102.99 have taken two little bits off. I think in 96 At least one and it dropped down to 89 21. Now it's back again Um and in the weekly chart I'll turn it count. Just as see Maggie's good. Look the nine is way above the 14 to get the nine to go back Pink underneath the 14 period moving average You'd probably have to see either a huge sudden waterfall cascade to the downside Or just a slow grind to the downside that says it's trading at 99 Probably 97 98 to 97 to get that to turn Pink and negative so so far on a bigger in a bigger context the The dollar is holding really well Nine is way above the 14 in the daily Nine is way above the 14 in the weekly and the nine is way above the 14 in the monthly and it's only in leg c So this says it should go to a leg d to a higher highs right now. It's consolidating usd jpy That's the counterpoint. That's the I'm sorry. That is not the counterpoint. That is the The one that moves in the same direction very often most of the time as the dollar But not in the same percentage or anything like that even chart pattern just the same direction They're e in the monthly chart. Look at this huge move. This is the dollar Japanese yen beautiful rectangle that goes to a cup formation after an arch turn around From the high that was made back in 2015 It's broken out and the magdies strong statistics at 91 Fabulous action strong leg e in the month of june so far doing really well Weekly chart is extended above the 300. I I use 300 percent. It's not a Fibonacci number I've always used it. I love that extension because that's where Many things happen, but this has gone way beyond at 136.19 up 1.08 today Finally in leg d. This says we're getting close To the yen Just starting to make a potential short-term top. We haven't got it yet. I'm just saying My yellow light is flashing. It is green But my yellow light is flashing to say just be a little careful here Especially when you put it together with the the dollar at this particular point But look at the e u r usd. This is now in three time frames day on the left Is has done the h pattern but so far it's successful because it hasn't taken out the left side low of 1.02 I think it was 1.035 And yeah, we are at 1.55 trying to have an h pattern that goes to a lowercase m pattern Look at that. This has a chance to go to That so yes, there could be a bit of a rally could go to 1.06 3 At this point if the dollar is going to have a continued Relaxation and it's up move a little digestive phase But the weekly chart says this h has to to turn this around and become The dreaded h pattern that That morphs into a very positive cup formation or a deep cup formation You're going to have to see 1.055 No, that's where we are 1.062 the pink nine-period moving average taken out and I push away about 1.07 the 14th period moving average. I think that's going to be kind of hard to do I did that Um, I I did a question about crude oil. I'll do that right now Yes, crude oil is making some kind of a double top there I think crude oil is in a digestive phase I'll be back in a moment. If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning. I published a gold report with coverage of gold silver bonds The xAU hui gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report Sign up now by visiting tfnn.com. 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I'm basil chapman and i'm sitting in for larry pizvento larry wasn't able to make it today And it's my pleasure to do this and i'm going through different commodities different aspects to uh To what i know larry always looks at yes It's left side right side price time matching the one-minute chart from the low that was made at 10 36 at 37 68 It runs up to a peak e with a doji candle double top at 11 o'clock It goes to 37 81 25 and the left side right side price time match says that by 11 25 it should retest the left side low it hasn't done that yet But it looks like it still could do that This is that art formation that i always talk about and i often talk about how prices can We often think of on the downside it's Much sharper move than going to the upside but actually Much of the time You can move to the upside and move to the downside in the same number of bars with the same type of pattern Look at this. It's pretty much the same type of pattern a little bit deeper pullbacks But here we are and the one-minute chart Testing at 3772 and what i said was what did i say close under three? 58 did i say three? Oh, i can't remember now in the 10-minute chart it would be very negative But so far it's holding quite nicely and it is i'm still calling it a pb in the 10-minute chart We'll get back to that meantime back at the ranch crude oil Extended up to the 161.8 area in the femuronc expansion It went to i usually don't like typing these in because These are continuous contract charts and therefore the price you type in now In a couple of weeks will be different 121.46 i will type it in the 14th high 121.46 of course it trades in what five-cent increments so it's It will be different But i am saying that i believe crude oil is consolidating one of the reasons is look xon mobile Made a peak e and look at that sharp pullback in the daily chart peak I'm calling this a peak f in the weekly because i think we're in for a digestive phase In crude oil and a leg f in the month and look at cvx. This is a chevron 182.40 the high of the eighth of june down to the 145 level almost the 200 period moving average Trying to rally today. I think they're gain peak f in the in the weekly chart I it's a little premature. I should not have put that Down arrow in i really have to wait for the full week. So i'll just put a question mark here question mark I believe it will be a down arrow. Let me get rid of this one that was just some slip of the hand And that that says to me there's no question about that that is a peak f It couldn't be anything else because of the deepness of the pullback in the weekly chart I think we in for a digestive phase if you look at the oil service area I mean look at the oh i h again oh i h made a Double top and now it's chaining it under the it's went under the 200 period moving average now a little bit above it I don't know what this is. Oh, this is what I wanted to talk about I did this over the weekend now completely forgot to update it in the chapter wave instant restart at a peak d within two bars Or two or three bars if you go immediately higher, you can have an alternate count So this g becomes a g slash c And this becomes the peak d and now we've got a peak d top in the oh i h the oil service area That is a legitimate down arrow But this becomes when you've used up your down arrow you go to the inverted v shape the little character to top That's the same signal to say that's your big test and look at the talk about a test Look at the vertical test. Yeah, the vertical test here and that just says ha The the technicals the mag D the stochastic the on balance volume Everything was fantastic at this high that was made in the oh i h the weekly 22nd of april And look what happened and went to a higher high On the 10th of june and look at the technicals you deflected lower in the mag d stochastic was way under 80 percent on balance volume add A v shape turnaround. So this just says and this is a peak a leg e in the monthly chart I I think that There's a chance that's the reason why I think that this rally in the market could turn out despite what all the More the bears are saying on a short-term basis. You could turn into more Intermediate term only in the sense that it lasts more than two to three weeks I don't know yet. We don't it's the first day of the turnaround. So I really I'm only Speculating so but it's saying look at this dba, which is my Real long from 30.77 in the dba the dba agricultural fund um Been long since for about two years now. It's screened up to the 22s hit 23 and now it's down to 2170 I think this is also the because this is a property a g in the in the weekly chart and an e in the monthly chart And if you look at the big picture The big picture says we were once at 53 50 in the dba back in 2000 february of 2008 So there's a long way to go but this is a little digestive phase in the In the weekly chart just gone really sideways for the last couple of months And I wouldn't be surprised if you actually have to test 21 maybe even 20.50 And then we start up again. So that's why I'm looking at the agriculture. Look at wheat. That's wheat Wheat is trading Had a peak d in the weekly chart and this is a continuous contract so the price could change But it was at 1375 and a quarter back in the week of novell of march the 11th And look you've got your dreaded h pattern here. It looks like an inverted v Right there if we take out that left side low, which I think is a possibility this week either this week or soon That is this low if you close below the low of April the first the week of April the first of 983 if we close in the 975 area All of a sudden you're looking at the monthly chart saying wow that big spike to the upside Right there that Remember I had a whole thing on the chapter of roman candle How perfect it was we went to do a higher 30 was 1363 and a half it's probably changed now Yep now it's 1375 And a quarter that was the high of the 8th of march and I said if within two days if we if we have A session that interest session we go below this midpoint of the of the wick The lower wick if we go below 1255 There's a real good chance not only will we test the low we could take it out Well, we did that then we had an inverted chapter of roman candle And we went even lower So this says that the move up in wheat Could test the 9 9 54 200 or get close to the 200 period exponential moving average The core the soy beans Um, this is a very choppy move. Remember I talk about a rectangle and I say in a narrow rectangle move You've got to be careful because if there is a Sideways action and eventually suddenly goes to a pd and pulls back It could go right to a halfway point of the rectangle. That would say 1644 It's at 1688 right now if it takes that out you could even go to the bottom of the rectangle So it's just saying soybeans holding okay right now. It's down today dumb 14 At 1688 this is the continuous contract But if you look at the weekly chart that is a peak east ash scene looks to mean like it could very well turn into an e Only a c in the monthly and that says it should still go higher Looking out in 2022 soybeans looking at corn corn as we say here in the Boston area made a peak d in the weekly chart a peak f With a head and shoulders pattern Plunge to the 720 area ran up to the 800 and now it's down at 763 This says to me corn is also in the digestive phase So this is one of the reasons why I said to subscribers of the weekend that with the commodities pulling back With oil pulling back There's a chance that there is some relief to the upside. Oh, let's look at the jets This is the u.s. L. I index is running. Yeah, running a little bit up through to the census 73 with oil coming down and sometimes oil is not down enough to really help them I'll be back does a 425 29 basil chapter city. You're going to spend this hour. 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That's 727 329 83 22 call us today The technology around us is changing every day with so much happening. It can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information You need to understand the technology that shapes today's markets and tomorrow's future David white has made his living staying on cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 dollars and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30 day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor foreside fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Hi folks pal's a chap and sitting here for the hour. I'll be your larry's uh, not that well So uh, I think I just didn't feel that it could do the show So I said i'll sit in and do it because I wanted to also look at commodities And I just wanted to show you this is the five-minute chart made a peak etop in the e-mini went to a trough A leg beat to the downside of the downside We use lowercase letters and the nine-period moving average is still green But it's close to turning pink and I believe that I said in the 10-minute chart if there was a close on a 10-minute bar below 3750 i'm sure I say there because it had to be below the 14-period moving average and 37 60 would be the obvious numbers I would go a little bit below it It needs to go a little bit below to say maybe be negating this peak b and it could turn into a turn of count But so far everything's holding pretty darn well And that's going to be the big surprise if instead of seeing as up 543 in the dow 90 in the s and p at this point instead of seeing us down Uh, 250 from this level only up 200 something in the dow after two o'clock and only up 45 Or less at two o'clock after two o'clock this afternoon We're holding really well Those shorts will have to cover and I suspect this couldn't lie. I mean we were looking at it I looked at so many doubt the dow charts that just Everywhere I was looking at charts charts charts over the weekend when I had a chance Um, and I have to tell you that the over over sold levels of many of these just suggested we might have more price In initially but then get time and price just kind of folds us in because you've got time to the upside We'll see but this is just early in the turnaround phase, but I do believe it's turnaround phase So a couple of questions are coming. Could I look at um, uh, wood? I always talk about wood This is the ice shares global timber and forestry etf. Now that is looking ugly And the reason why I say it's looking out because it was holding very well for quite some time monthly chart peak b Daddy chart made a peak d with a double top very negative double top pulls back and what I'd said before maybe I'll just do I'll let me do this now. Um I'll show my subscribers to my opening call every weekend We have a good look at this and discuss it in greater detail. This is the 30 year 10 year and five year yields T1 and T note yields it has with the ice shares global timber and forestry etf on the right And as the Philadelphia housing index at the bottom right So look at this what happened the five year and the 10 but the five year screened above the 30 last year The 30 year went to 3.472 3472 was the high in the yields This is the t bond the white one. You can't even see it here. You can't even see it today this week Because the five is still above the 30 So this just says to me that yields have extended to the point where in a pattern that I haven't seen in Decades, right? Let me just squeeze us a little bit to show you There we are So you can go back to I can go back further but for now I'll just go back to Man, this is go there. We'll go back to that double top there in 2014 Look at the distance between the white the 30 year t t bond Uh This is t yx 30 year yield. This is a 10 This is the 10 year t note yield At 30 point 36. Well the prices have changed as well and the five year Back at peak d all of these and look at the distance and then all of a sudden you get this cluster formation in November of 2018 Remember fed talks about raising rates and you get the smash to the downside of the market into the December low And then it would happen it pulled it there was this cluster formation But very little overlapping and then all of a sudden and you come down to a whopper of a pullback That was the low of Well, the five year did it before the 30 it's going to the 30 year the 30 year low of of course This was a march of 2020 when we got that massive turnaround in the in the general market in march and So that low was 8.37. Is that still the case? I really have to check that because it's a continuous contract 16.46 now call me 16. It's this one right here. I don't want to waste time. Uh, let's go to this Oh, it is moved down. So it's 11 instead of 8. All right. Well, whatever that low was right there And now and then it screams up to 2505 and pulls back And all of a sudden here we are 34.72 We're above all the other yields in the weekly chart going back to 2014 So we have been here and we were running. You remember the big move from 2009 the low Um, the one that Larry called so perfectly Um, and here we are Wood global uh Timber and forestry etf was doing beautiful. Look at the rectangle pattern. It went to a peak I believe it was d and then pull back sharply and now it's at way below that It's making a propeller shaft move to the downside and the housing Philadelphia housing index talking about um The rectangle with a propeller sharp close the window save the window. Let me show you this The IWM The russell 2000 what did it do for a year? It went sideways in a rectangle fashion Look at that rectangle. They went to a peak d above the resistance and could boom it went all the way down and took out the the the base of 207 and In 2022 it's just come made lower lows and lower highs So this red long rectangle formation is something to keep note of And what on earth was I talking about? Uh, it was in one of the indexes One of the one of the one of the things we were looking at now. This is something else Um, if you're looking at I did that. I did that it didn't gold How could I not have done gold yet if you're looking at gold remember the arch formation Well so far successful even with the dollar up at Multi your highs gold has held well and gold to me has always been the icon of geopolitical angst nervousness Countries and huge financial concerns go to gold And what we've seen is that in the pattern that I often talk about in this Look at this beautiful cup formation right here If you check this high that was made back in the in gold continuous contract back In this is a weekly chart the 7th of august of 2020 Look at the technicals as strong. They are if you check the technicals right here The week of the 11th of march of 2022 Look the maghdee is much lower than it was there The stochastic is under 80 percent is negative and the unbalance one Yes, it's actually a little bit better, but I started to pull back and that's one of the reasons why I think you've held this Uh chapter we falling ax formation. I shouldn't have mentioned it now. I have to show it Uh, okay chapter we falling ax formation. Is this particular pattern here? So the falling axis this pattern here We see prices run up and then you have lower highs and much lower lows And then you start to stabilize and then you take it out and you go one to one to the upside It's kind of what we saw right here oops right here And there it is so you're coming down coming down and then you try to take it out But you didn't succeed But what you did was you did the inversion and the inversion is when you're coming down And you're running you make much higher highs And higher lows and then you take it out and you do one to one to the downside So you've done that once are you going to do that again? Well the way gold is handling all these vicissitudes of Again disruption in the markets I think so far it's held very well if it closes under 1750 on a weekly basis that'll be negative I'll be back in a moment thousand five thirty sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by basil Chapman and your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns, you can take advantage of sign up for the Fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis After all, he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from Larry on market movement You need to act on at any time first time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up Subscribe to the Fibonacci 24 7 newsletter today tfnn.com educating investors Almost with that Mozart overture just about to wrap us up We're looking at the uh one minute chart still at that peak e pulling back right on the 200 period moving average As I said before we start to close under 37 58 in the 10 minute chart Then I have to there's a chance we might have to recount this but I From everything i'm looking at there's such an oversold condition that many stocks are ready to Have a rally that should be more than a one or two days should maybe be a week and a half Maybe even two weeks. That's kind of what i'm thinking right now Meantime back at the ranch what we're all looking at here is uh, I didn't do platinum I was asked could I please do platinum? Just let me get there real quickly Platinum is pl there we go Platinum made a peak c made a peak d in the weekly chart at about 1200 on the continuous contract And it's starting to look a little bit weak here. It's kind of fits in the same category as gold. It's just it's pulling back Uh, it hasn't broken down yet. It's pulling back. I I should mention gold They've gold closes at any on a weekly basis under 17 70 Seven closes that is under 17 70. That's going to be negative because once again This chap we inverted falling ax formation inside track support level has been taken out silver That's what I was asked about. I forgot about that. Look at that rally goes through pd And the smallest little move in the quickest pkb cd and then it pulls back Silver needs to get to the 23s is a 21 77 right now 23s and I'll say wow now I can try for the 23 60 200 period moving average So keep that in mind and we'll just do the vixx very quickly If the vixx index by the end of the day instead of it being a 30.33 Sees the market pull back from here about 150 to 180 down points and the vixx goes to 30 point 80 or more Then I think we've got a lousy close But if it holds really well in the market And all of a sudden the vixx goes to 29 70 And then to the 14 period moving average of 20 points 29.30 over the next day or two This could really help the general market. So with that, I'm basal chap and sitting in for the hour of laughing this event And I hope it was helpful going through all these different commodities And uh, I I'm hoping that I will be back tomorrow. Check out my opening call my day We use that if you've had some really nice trades over the last couple of days And uh, stay tuned. Go great programming coming up. Think of swimming. You've got a ski road stay white and tomo grind Have a great day and thanks