Gold near support line for next move

On February 1, 2010, In Technical Studies, By David Yew

Gold is currently near the Support Zone and formed a lower high away from the recent high at 1226.

The current support zone near 1070 seems strong as it was formerly a resistance then turn into support.

If the Bulls were to continue their rally, then they will have to breakout of the resistance at the lower high (1160) before overcoming the Yearly Resistance of 1226.

In the same way, if the Bears were to overcome the Bulls, then they will break down  every support zone (currently between 1074 and 1025) till both Bulls and Bears meet for a temporary standstill.

Gold

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David Yew

Associate Trainer

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TA expert Prechter makes predictions at investment summit

On June 16, 2009, In Economic Indicator, By Soh Tiong Hum

Speaking at the Reuters Investment Outlook Summit, Technical Analyst Robert Prechter makes a number of predictions:

  1. US likely to AAA rating
  2. Oil rally has limited upside
  3. Deflation may limit gold rally and stock gains

http://search.us.reuters.com/query/?q=prechter&s=US&searchWhere=NEWS

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Soh Tiong Hum

Director of TerraSeeds Market Technician Pte Ltd. Forex Trading Trainer. Tiong Hum believes that looking at price action is the best way to trade. Reminder: [1] Investing and trading activities carry risk that may not be suitable for everyone. It is each individual’s responsibility to evaluate that risk before participation. If in doubt, please visit a financial advisor. While TerraSeeds Market Technician Pte Ltd conducts courses on investing and trading, we are unqualified to evaluate your risk for you. [2] Testimonials and illustrations may be shown from time to time. This testimonials and illustations may come from trainers or students. Their performance is not an indication of your performance. [3] Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.

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FX market at a nexus now; 38.2 Fib resistance for USDJPY

On June 10, 2008, In Trading Technique and Strategy Discussion, By Soh Tiong Hum

usdjpy at resistance 38.2 fibThings may be falling into place for a key decision to be made. We got the USDJPY at a 38.2 retracement (106.67) of the weekly high-low which is likely to act as a strong resistance.

In the meantime, EURUSD is supported by the 61.8 retracement (1.5566) of the daily high-low while gold is also likely to have strong support at USD 886.

 

 

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About the author

Soh Tiong Hum

Director of TerraSeeds Market Technician Pte Ltd. Forex Trading Trainer. Tiong Hum believes that looking at price action is the best way to trade. Reminder: [1] Investing and trading activities carry risk that may not be suitable for everyone. It is each individual’s responsibility to evaluate that risk before participation. If in doubt, please visit a financial advisor. While TerraSeeds Market Technician Pte Ltd conducts courses on investing and trading, we are unqualified to evaluate your risk for you. [2] Testimonials and illustrations may be shown from time to time. This testimonials and illustations may come from trainers or students. Their performance is not an indication of your performance. [3] Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.

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