Posts Tagged ‘chart’

A Look at Gold Futures

Monday, February 23rd, 2009

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Gold futures had a great rally on Friday, aided by a lack of confidence in government bailout and stabilization plans of all stripes.  This saw April gold rally to a new high for this move, and within sight of th all time high of $1033.90 on Feb 17th, ‘08.  There’s some profit taking today (reports of more US government support for Citigroup cited for the correction)., but the picture still looks bullish for gold.  I’ll look at the chart below (more…)  Read more... (146 words, 2 images, estimated 35 secs reading time)

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Good Buy Opportunity for Silver Futures

Friday, February 20th, 2009

The bull market in precious metals paused yesterday; this correction was a good chance to buy silver.The green line in the chart below is the swing high from September 25th.  1393 has served as support for the past sessions; yesterday’s move below there proved to be merely corrective. Momentum (the bottom panel of the chart) dropped to the zero level for the first time in six sessions, giving a buy signal.   I was looking to buy as it dropped below, then moved back over 1393.  Stops could have been placed below the intraday low at 13.85. The first profit target for the buy was yesterday’s high of 14.37, further targets are 1487 (50% retracement of the March to Nov. ‘08 decline) then a psychological target of 15.00. Near term, momentum is still low enough for the market to rally. The longer term charts look bullish as well; the May low at 1638.5 is a major target.  Read more... (163 words, 1 image, estimated 39 secs reading time)

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Stocks Ready for More Upside

Sunday, February 8th, 2009

Stocks had a great day Friday-SPoos were up 27.25, about 3.2%.  Friday’s rally also augurs well for further advances for stocks.

(more…)  Read more... (127 words, 2 images, estimated 30 secs reading time)

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Price Action in Cotton

Friday, October 19th, 2007

December Cotton was a breakout candidate today-yesterday had a narrow trading range, and although it wasn’t an inside day (I like the ID/NR combination as a breakout signal), it was a doji, so I knew to be looking for a breakout trade on Wednesday. The chart below is of the day session only-you don’t have to stay up at night to catch every breakout!)  That being said, more and more breakouts are occurring in the overnights markets.)

(more…)  Read more... (244 words, 2 images, estimated 59 secs reading time)

This is a preview of Price Action in Cotton. Read the full post (244 words, 2 images, estimated 59 secs reading time)

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