Following meticulous consideration, Bankfluence has resolved to share our most compelling daily and weekly investment ideas exclusively through our newsletter. While we will persist in offering opinions and chart interpretations on 'X' (Twitter), those who invest the time to peruse our newsletter will find it to be a rewarding endeavor. Currently available to all without charge, this may evolve in the future, but for now, a modest commitment of time and dedication to reading is the key to accessing these valuable insights.

An advocate of our mission once wisely remarked, "Investing without a comprehensive worldview or macro/micro stance is destined for failure." Bearing this insight in mind, Bankfluence invites your attention to our latest macroeconomic analysis, titled 'Macro Mirrors,' featured in yesterday's newsletter. Within its pages, we delve into the perspective that adopting a 'risk-off' trade strategy could prove advantageous in the initial days of the week, given the forthcoming series of events, including multiple bond auctions, the release of CPI data, and a pivotal two-day Federal Open Market Committee (FOMC) meeting.

Irrespective of one's stance, the contentious cryptocurrency Bitcoin has emerged as a potent leading indicator for gauging a 'risk-on/off' perspective. As illustrated in the accompanying chart, BTC swiftly nullified an entire week of gains within a mere three hours. While there has been a partial recovery at the time of this publication, historical patterns suggest that a substantial move of approximately 8% often foreshadows continued weakness during overnight trading. While acknowledging that BTC and the equity market are not synonymous, it has undeniably evolved into a dependable barometer, providing valuable insights into the prospective performance of the equity market.

USOIL has recently undergone an identical five-wave impulse correction as the S&P did from July 27th to October 27th, echoing the precursor to a historic November rally in the equity market. Supporting our risk-off perspective is the metals and mining chart, where an elongated inverse head and shoulders pattern on $XME, while slightly stretched, remains invalidated at present. Despite being in the pivot zone, XME exhibits resilience, having successfully tested overhead supply twice, with a third test appearing highly likely. The recent breach above the pivot suggests a transformation of the pivot from resistance to support, paving the way for potential squeeze setups outlined in the section below, ‘The Sauce’.

An additional noteworthy chart that could complement this discourse is that of the U.S. Dollar. The USD features a striking inverse head and shoulders pattern, poised for an upside breakout above $104.25 with a measured move projecting to just shy of $106. The confluence of these three setups converges into an optimal 'risk-off trade' scenario.

The Sauce

1. Chevron ($CVX) - Current Price: $144.33

Chevron is displaying indications of a reversal in its market trajectory. Amidst various evolving patterns, the triple bottom formation, highlighted by three distinct green troughs, stands out as a favorable signal. Concurrently, within this range, a compact inverse head and shoulders pattern has taken shape. Notably, on Friday, CVX breached its minor downtrend and adeptly retraced to validate the downtrend line. A broader head and shoulders pattern may be in the early stages, projecting a measured move of approximately 13.9 points above Friday's closing price at 144.33. The emergence of these interconnected patterns augurs well for CVX, presenting significant swing potential. For prospective buyers, three strategic entry points are delineated: the first at the 143.85 level, the second at 146.69, which has exhibited vulnerability upon three tests, and the final at the 153.63 level. Buyers anticipate a decisive breakthrough at each level, transforming them from resistance into support.

PRICE TARGETS

• Target No. 1 = 152.61 - 153.63

• Target No. 2 = 157.45 - 158.23

1. Royal Gold, Inc ($RGLD) - Current Price: $118.19

Royal Gold holds the second-largest position within the $XME ETF, commanding a current weight of 5.12%. While the largest holding is held by $HL (Hecla Mining Co.), considerations arise due to the latter's lack of profitability and a less interpretable chart compared to RGLD. While we acknowledge the potential correlation between XME's rise and that of HL, RGLD stands out as a more appealing individual stock from a comprehensive perspective. Royal Gold presently exhibits an ongoing incomplete inverse head and shoulders pattern. Following a robust uptrend, the stock is presently consolidating its recent gains. Much like Chevron, RGLD showcases a confluence of multiple patterns. While a substantial inverse head and shoulders is discernible, our focus centers on a more immediate swing. Buyers' interest lies in maintaining RGLD above the 0.618 Fibonacci level at 115.74. An extension from this level targets the 1.272 Fibonacci price of 129.13, indicating a strategic point for potential market action. The entry is derived from inverting the current chart and using Fibonacci levels for the current digestion. 

• Entry at 116.34

• PT Zone = 126.40 - 129.13 (1.272 fib) from wave 3

• I/H/S measured move Target = 127.20

While Bankfluence typically presents a more expansive array of ideas, the constraints of the current posting time necessitate a concise offering. The unfolding of the opening bell and tomorrow's price action promises to furnish additional insights, and a wealth of ideas will be explored and expounded upon over the course of the week ahead. Stay tuned for a dynamic discourse on evolving market trends.