Gold Daily Video, 28 October, 2016

[Sive Morten]

Good morning,

Technical picture looks bearish per se. So, let's wait for GDP numbers to get clarity:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[grae64]

Hi Sive
What happened to great set up on USD/CAD are you still happy with this or is it dead in the sand?

 

[Sive Morten]

Hi Sive
What happened to great set up on USD/CAD are you still happy with this or is it dead in the sand?

Since we haven't got DRPO "Failure" Pattern on Brent Crude, mostly this setup has been destroyed, as Crude has followed to direct DRPO pattern and mostly has completed it's target.
Larger patterns that we see on Crude although suggest upward action (downward on CAD) but this is just a perspective currently.