It's alive !! we're getting stretched upside on a relative basis...

It's alive !!

we're getting stretched upside on a relative basis and to find that basis i usually look to previous widest price lengths as notated on this chart at 1166 and 1186 where price also runs into volume rotation (vwap)
so one of two things for mine are, we hit one of the 1:1 ratios at 66 or 86 and form that handle on the cup or whatever the thing is as a result, or, we barrel thru and confirm an uptrend by breaking those previous lengths at which point every dog and handler will be covering and/or buying...
on 1-5  min time frames xauusd had made a nice up-channel which it has lept out of getting vertical and typical for commod action so nothing odd there, step up, chop sideways, step up, zoom, leading to larger chop sideways, larger step-up, etc etc
in the background the $DX is continuing  its bull trend retracement, prob to .90000's
equities appear to be fairly orderly at least for the US so not expecting any sudden contraction of buy-side liquidity or forced rebalancing.......

by passing the previous daily swing high, 1192's front month contract, price will alert every would-be technician the game is a foot, it's on, started, wake up....scrambled egg managers should cover, i suspect

silver

in respect of groundhog action, the technical analysis has been rejigged, from c n handle to
Murray Bowl n Beard





look at those JGB's go...Japan saves itself, thanks to Jose Conseca the baseball player (huh?)

props to Weisenthal for best gut-wrangle of the day, tops!!