MarkLangley

MarkLangley

In doing my weekend updates, I saw this pattern of behaviour from the previous week, in light of a pretty volatile week of trading, Trump comments, tariffs, economic data, and Powell speak. So what now? well, I will stick my neck out and say we have seen the highs for the next 6 months and possibly the year. I do anticipate a corrective rally and will be watching...

MarkLangley

The gap we have from the weekend and the announcement from Deepseek , we have nearly rebalanced the imbalance. Today with Fed decision (No rate changed widely expected) but tech heavy earning after the close , today will be the start from something pivotal be prepared.

MarkLangley

We on our way towards 5300/5400 area on this move. The top maybe in for now be vigilant

MarkLangley

Area's of interest in the Nasdaq going to be the start of a volatile period for equity markets.

MarkLangley

Gold remains a commodity of choice in a market that is increasingly becoming unstable because of geopolitical tensions, raising US debt etc.

MarkLangley

Although we had a strong up move in oil last week we remain well within last years range. we still a need above $76.50 area to pose a threat on higher prices towards $85/90, otherwise we sink back into the range of the last 14 months, similarly a close below $63.75 will see the deeper move lower.

MarkLangley Updated 

As we complete 2024 and the significant move we have experienced in the NQ this year, its time to have a look at the possible outcome for 2025. the ascending triangle suggests a topping pattern and as the Santa Claus rally completes and portfolio adjustments for year-end, I have to conclude that we will see a reasonable correction in January/February next year. I...

MarkLangley

What does Gold have in store for us, i still believe we get a deeper correction before we continue the rally higher. The way I see the market playing out is indicated. I do think that $3000 will be a reasonable target before we probably revert to a range of $2000/$3000

MarkLangley

WTI has had a relatively range-bound year. Thinking back to what I said at the beginning of the year, that was what I predicted. I have drawn the vertical lines to show this year's range, and for me, this indicates a sell-the-rally mode that traders have adopted. You can see the triangle that has been forming over the past few years will break out soon. I prefer...

MarkLangley

Right election week has arrived and we sure going to test either side of recent range or even both, guessing at this point is useless trade with care be patient opportunities will present themselves.

MarkLangley

I have been watching this chart all year and let's see if the USW election this week livens things up !! Over targeting low $60's maybe $50, lets see

MarkLangley

As we approach 4 November and the US election, markets will need a clear definitive result, unclear will see increased volatility and uncertainty. The defined result sees a continued AI rally (NVDIA is the defining stock) we will see a correction in the market see the chart for my key levels.

MarkLangley

Although we have had a choppy ride in oil in the past month due to tensions in the Middle East, has anything changed? no did this chart at the beginning of the year and the song remains the same trapped inside a range. The clearly defined range is $54/$89 so until we break out cant see the picture changing

MarkLangley

Gold has been pushing to new highs and continues to look strong, aided by political and geographical issues globally. From a technical perspective, I can see a retracement coming in the coming weeks before the final push to my targets.

MarkLangley Updated 

It was another important week in equity markets and so many new highs but starting to hit rally objectives i look for in a rally. the high at 20983 looks critical now and could be a short-term high and if not don't think to much more slippage from up there. Green lines are Daily support areas , the green box my objective and yellow line the weekly trendline and...

MarkLangley Updated 

Firstly, the bearish engulfing candle on last weeks move. This for me will be the first punch in which is going to a slug fest this year. The market carries in overwhelming bullish sentiment into 2024 post the AI frenzy last year and Powell's suggestion that US interest rates may have peaked. Opinion is divided and throw in major elections this year i can only...

MarkLangley Updated 

Looking at the January 2022 (Yellow Bars) and 2023 (Red Bars) moves and overlaying them onto 2024 chart we can clearly January corrects the seasonal or Santa rally the question then what happens after that, the convergence is at 15278/15560, that will be decision time. I will post a daily and weekly chart to see if i can answer the conundrum.

MarkLangley Updated 

Gold is tricky at the moment because it's uncoupled from traditional influencers, it is a form of currency and I think central banks buying gold as a possible hedge against any pending currency crises that might ensue either debasing the US$ or the problems the Japanese are facing with their currency woes. So I believe we push on higher but at a junction right...