Monday, May 30, 2022

Sunday Notes, May 29


As I wrote in previous post: "Based on the structure of the upward correction from recent lows, I suspect larger correction is not over and we can expect possible breaks below recent bottoms both in BTC and ETH".

Unfortunately that turned to be right (at least with ETH). 
ETH failed to stay above previous low and is more likely to continue down to mentioned lower level targets 1,453/57 and below that to 1,050<>874.

BTC for the moment is still above it's recent low 26,591 but as I said before I'm not impressed with the structure of the move from that low onward. It looks more of a correction than to a reversal, so it's more probable to expect continuation down. A break below 26,591 to confirm that that will open targets at 25931<>24,588 below that to 14,835.
On the flip side "Break above first 52,773 and then 59,891 is the first indication of a possible continuation of the uptrend to new time highs, but just after a break above 68, 958 will be a confirmation".

GOLD
Gold down to 1,663 to possibly 1,405.

CRUDE
down to min 90.55 below that 76.56<>62.57
Break above 135.84 to confirm up to 168. 

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