Expecting a turn around whether it be a short term or a long term and we will have to see, but I'm expecting a turn around to come soon as both the weekly and the daily chart suggests that a high has been reached, so we're waiting for that.
So hang on to your shirts and last week I spoke about Boeing took off like a rocket and again let's do this little update here. Now so far we have what we call, is land because there is this gap space.
Here there's also a gap space down here so if this gap fails we have another gap that we can test so if we have a down day and it gaps down and this is a here remains untouched that would be a clear signal that a meltdown is going to occur so if that happens you can either shorten it or get some put options and here we are looking at a silver December contract and I said last week to my readers on bitconnect that silver was going to be coming down anytime soon.
So that was one two three four five days ago and I was almost out of high on that day and just went up a little bit higher on a Wednesday it believed and I said it was probably going to come around to round six fifteen sixty but not likely surpassing this fifteen twenty here and what is interesting is that the open interest is stabilizing for this long period of time which is unusual because you can see in the past it's pretty volatile it just ups and downs and it's been going flat which means that no new contracts are being created and if there are new contracts being created and old ones are being sold off and sent to the grave and as you can see the commercials are shorting.
So get ready for some short to occur and we are going to see that Monday I believe as everything is weak and money coming out of the market people are selling off taking the cash and as you can see the MACD is changing.
Actions so everything is indicating that silver is going to continue to go down so we got one two three four indicators that say silver is going to continue to come down and here we're looking at December contract of gold is also
coming down not so much as silver even though the commercials are shooting which means that they want the market to go down and we are at a top right here and it's starting to cross over as you can see and we are going to come down on.
The slow chase six and here is their relative strength elastics and it's-reaching the bottom but usually, the bottom stays there for a while as you can see here and the money for gold is coming out the MACD is changing over so
Gold should be coming down a little bit probably not as low as the twelve ten but I suspect we should see one or two days where it just drops really big and then kind of tinker's around a little bit that's why I suspect about gold and this is Bitcoin this red bar is August 6th so this must be a new york website because I'm in Pacific time and it hasn't been mid, its not midnight yet as You can see it's only 11:59 so this red line is the August 6 so that's
probably New York yesterday it went up really good so Saturday that's the Saturday green bar money flow is coming back in and it still has ways to go and the MACD still has ways to go. So I suspect that Bitcoin is gonna go up for another four or five possibly six more days before it settles or starts coming back down ethereum a few weeks ago I drew this flag here this triangle and I said if it breaks.
the triangle down ward it'll go down and it did but now it's starting to go back up and this is ethereum, So ethereum has ways to go, I suspect that a week maybe two weeks of non-stop going up for each ethereum.
That's what I'm expecting and lite coin a couple weeks ago I drew this trend these trend lines and I said if it breaks out of this triangle whether up or down it'll go in that direction so it broke up and that's day in that way and as you can see here,
the money is starting to flow into the market and the MACD is just barely starting so it broke the pattern has starting to rise money's coming back in and the MACD is just barely starting so this light coin is gonna go and I think.
it's going to go pretty good there we go for - - made a terrible formation here on this pinnacle. This flag was sloppy. it was a sloppy flag and I said if it breaks the flag, it'll go down and they went down and it has to start to go back up but it's teetering around so the money flow money's not really coming in it's kind of sort of coming out MACD is just tinker around nothing's really happening with MACD everything about this is a lazy chart sloppy flag.
Pinnacle formation not very nice and then two weeks later it's it's kind of a sloppy lazy nothing's really going to happen with - I don't think for now yo s let's got e OS e OS was getting really tight right here and that and it got and it was getting tighter and tighter as you can see the highs and lows were getting smaller and smaller and now we got this one break out here I' m expecting a bigger breakout coming in a couple of days from now possibly Tuesday I think it's gonna start breaking out and going up and that is all I have for now.
Oh I got one more thing now before I leave here I want to show you Apple Apple it's ye sit there is a gap here but it's pretty slim if Apple has a down day that surpasses the gap then that would be an indication that Apple would be coming down some more so it would be a good time to get a short or a put option if when it does come down to a gap and it leaves this open space here and that's all I have this week thank you and if you like this my research please give me a thumbs up and follow me thanks you.