#SP500 - long term view

I see the highlighted red area as the current supply area and I wouldn't think about buying a dip (even for a corrective move) before it touches 1900-2000 highlighted blue area.

If people stand in the way of yet another government bailout, I can see it even touching 1575-1710 area as the companies with too much debt just get wiped out.

#dowjones - long term view

Similar to S&P500, I think we might see a corrective move from the 17000-18000 highlighted in blue area towards the supply area (highlighted in red)

but I can still see it deflating towards that big area highlighted blue at the bottom in a worst case scenario situation.

As the feds are injecting more dollars into market a significant amount of money is moving towards gold!
spreads have widened in most brokers as much as 100 pips!

be careful out there.

Due to halting of mining in gold mines in south africa, canada and switzerland it seems like the demand for gold has skyrocketed and some banks in netherlands, switzerland and germany which provided purchases of gold, silver and platinum to their clients will disable those services for their clients from Friday.

So its not far fetched to assume something similar could happen in most forex brokers that provided trading of Gold and silver to their clients as a CFD.

Its still very likely for us to witness a surge in gold prices next week.


(This is not a signal for buying gold, just sharing info, thats all)

Guys I really wanted to start sharing signals on lower timeframes like H1 this week. But I know that a lot of liquidity providers and market making brokers are stop hunting the retail traders with widening of spreads mostly when economic data comes out on news events we have this week.

For now the general sentiment in the market is that despite all the QE and credit lines feds are throwing at the market, the USD scarcity is still there.
I think the demand for USD will remain high for at least another month or two.. so I would keep the bullish bias on USD for trades in lower time frames.

I will post analysis of charts in lower time-frames like H1.. but I still dont want to issue signals for trading. Just merely sharing technical analysis of the charts alone.


All the subscribers of my signal service (@linorth_bot) will have their subscriptions renewed for as long as the signal service stays inactive, before I start sending out signals again. So no need to worry if you got a message from the bot telling you that your subscription has ran out, it will get renewed once I start things up again.


Thank you for the support.

#GBPUSD - Daily

This is how I'm planning on swinging this pair. the two blue boxes are the PRZ levels I have for this pair as the supply levels. so I'm entering part of my position here and I will add the second part on the top blue box, with my stop being behind 1.37 (Red line)

the ultimate target for my positions is that blue box down there, but if price dives down from the first supply level, I will get out on the pivot point at 1.14

but if price touches the top supply area before falling, I will move my target down to the midline of the blue box at the bottom which is 1.1 price area

#EURUSD - Daily

this is how I see EURUSD moving midterm.
For this one I changed the color of boxes to show supply levels with red and target levels with green.

Saudis are trying to raise their oil exports to 10.7M barrels per day, in March they reached 9M barrels per day.

I personally believe this move from Saudis is more about bankrupting Iran than taking back market share from US or Russia (even tho that will become the cherry on top of the sundae) and I'm guessing Trump is on board with the plan as well.
it ties in well with the rest of events in Middle East, considering the fact that the US war with Iran-backed militia groups in Iraq, syria and yemen has already started (Israel is currently carrying out their attacks in Syria)
it seems to me US, Israel and Saudi Arabia are teaming up to attack all militia groups backed by Iran inside Iraq, Yemen and Syria. so far it seems like Israel will attack in Syria while Saudis will attack in Yemen and US takes care of Iraq.
There is also a possibility of them attacking Iran in near future. our military bases are on alert mode right now.

we should keep an eye on this conflict as it can affect oil prices (in case saudi arabia oil facilities are hit in attacks by those militia groups)

The US embassy in Iraq has been evacuated from diplomatic personnel and military troops have replaced them.

About 2 hours left on that 72 hour ultimatum US had given Iran-backed militia groups in Iraq

ifs and buts were candy and nuts..


I think this at least shows even US isn't comfortable with oil prices remaining this low.
still, Trump meeting with CEOs of big companies in energy sector on Friday, will make it clear whether the plan is to give the energy sector a government bailout so they can survive the low prices until Iran government is completely bankrupt, or if the plan is to pull up prices to a point where even american companies can keep themselves floating during the covid-19 winter. (which I think would be around 35-40 price for WTI crude)

oversupply is still a big problem in the market with demand being as low as it is. so we shouldn't get excited about news like this one.

Saudis already have called trump's claim of reducing 10M barrels an exaggeration.
I think now that they have pulled the trigger on selling oil on huge discounts, they will keep going until they can at least win back the market share from Russia and US.
I think its getting more and more likely for US and Saudi Arabia to build a replacement for OPEC+
they don't need russia or other gulf nations to decide the price for the market, when Saudis can pomp as much as the market needs and US has the arm to force others into compliance.

#oil - 4H

despite all the news of talks between US, Russia and Saudis to control the oil market.. and despite trump tweeting in full force in support of American companies in energy sector, we only had a small jump in price of crude.

After Saudis now Kuwait, UAE and Iraq are joining in on the oil war. Kuwait has announced they will start exporting 3.5M barrels starting in April which is a historic move for them.

I think for crude, we won't see anything more than ranging between $20 and $40 price for the rest of 2020 (and that's being optimistic!)

First target reached. We might see a correction before it continues falling towards the second target.

I think parity with USD is guaranteed at this point. And if the whole block falls apart, the fall might not stop there either!

just in case you still weren't clear on how bad things have gotten due to Covid-19 lockdowns.

News of Boris Johnson being taken to Intensive Care Unit has Pushed the GBP down again.

Despite the Feds injecting USD in short term REPO (they injected 13.5B yesterday), there is not enough USD in the market to meet the high demand. USD is expected to continue its climb in the next couple of weeks.
Gold is also likely to continue its climb while the mining remains shut down everywhere and US economic data shows more and more weakness.

Seems like everyone were treating Covid19 as if it was just a storm, but now they are realizing that its going to be a winter they need to survive.

#WTI #Oil
After much negotiations, Opec+ members finally agreed to 9.7M barrels reduction in their productions and heads of G20 also agreed to 3.2M barrels per day reduction.. together that is 12.9M barrels reduction which is a significant number and can support prices and bring them to a place where major players in the oil market can still stay in business (+30$ per barrel).
of course we have to wait and see how much this can lift prices in the face of low demand caused by coronavirus.

sources from opec believe that the total volume of production cuts and the purchases of new buyers in the market tomorrow is about 20M barrels per day.
(the excess oil in the market was about 30 to 35 million barrels so a 20M reduction is good news and can over time stabilize the prices more. either way this info confirms that the oil market has already seen its bottom)

#US500Index
I think it has peaked the euphoria state and now its going to continue the fall.

Stop behind 2900
First target 2772 (final target 2200 for me)

Hit the first target. But considering the weak US consumer data, it still has room to fall down more.

In case you want to keep it going, next target is 2717
Then we might see a bit correction up towards 2770 and then fall will probably aim for 2670 next.

There is still 15 minutes left before US market opens, considering the fact that consumer data weakness was historic I think we are going to witness wild fluctuations, so make sure you are not over leveraging on your positions.