DrFork's weekly Prong-nosis and Fork-cast 11 March 2017 XAO -...

DrFork's weekly Prong-nosis and Fork-cast 11 March 2017

XAO - Continuing strong support on blue Schiff median. Broke above top red & white tynes. Potential ascending triangle taking shape.


XJO - Resistance at 2nd warning line of pink fork and top aqua tyne. Ascending triangle taking shape.


XSO - Found support on first yellow warning line and white median.


Dow - Price fell out of blue fork body but found support & bounced on EMA13. Lower blue tyne now resistance.


S&P 500 - Found support on second green warning line and EMA13.


Spot Gold - Price bounced off red median last session. Red fork has confined and described price action since formation.


Spot Gold AUD - Price at resistance of white warning line and fallen below blue trigger line. Top red tyne below beckons.


Spot Silver - Price made one way trip from top to bottom of red fork. Will this support hold?


Copper Futures - Price has struggled since touching blue median. MT a test of support @$2.40ish - lower blue tyne is possible.


WTI Futures - Ascending triangle break to the downside was being threatened last week and a backtest and confirmation of resistance at base resulted in price freefall. Yellow median is the obvious target.


Brent Futures - Mirroring WTI, Brent fell off a cliff. Top red tyne logical target.


AUD / USD - Price likely to fail this backtest of 3rd lower yellow warning line. Red median below is the likely target.