DrFork's Weekly Prong-nosis and Fork-cast, 2 Jan 2017 XAO - All...

DrFork's Weekly Prong-nosis and Fork-cast, 2 Jan 2017


XAO - All Ords meeting resistance at top yellow tyne and top blue tyne.

XSO - Small Ords broke out of ascending triangle and now testing resistance of lower aqua tyne. Price has broken above both pink and brown median lines.

Dow - Added white fork which at the second warning line halted further movement upwards along with the brown median line. Look for support initially at the lower brown tyne and then the first warning line of the white fork.

S&P 500 - Added white and blue forks and hid some older forks. Note resistance at confluence of white median and first green warning line. Initial support at top green tyne and then potentially on confluence of lower white tyne and blue median giving a price target is around 2179 on Friday Jan 6.

Spot Gold - Added pink fork. Note support on lower red tyne also coincided with lower yellow warning line and fourth lower warning line of green fork. Initial resistance at pink median.

WTI Crude Futures - Price tracking the blue median which is acting as resistance.


Brent Crude Futures - Price backtesting break of red warning line prior to testing yellow warning line.


Copper Futures - Price found support on top brown tyne and currently bookended by EMA13 resistance and EMA48 support.

Spot Gold AUD - Price broke and successfully backtested break of white median. Now up against resistance of blue median line.

AUD/USD - Added white and ST blue forks. Price looks to have pivoted and is now walking the pink warning line. Break of white median will mean the ST blue median will come into play.