Gold close the 5th week of 2012 in negative territory at 1725 but it is still closed higher than the weekly low. It continued its ascent from Dec’11 low and the rally appears to face resistance at Nov’11 high at 1762. It rose to 1763 before sell
Read more →The EURUSD changed from a bearish head and shoulders setup into a flag-like bullish one. Earlier this week, we saw a head and shoulders setup and looks good for a continuation short in the 4-hour chart. It broke the neckline but was faded quickly. Since then, price
Read more →Gold bulls were raging last week, induced by Fed’s extension on the period of ultra-low interest rate. Gold broke the resistance at 1666 (Nov’11 Low) and long term trend line. At the same time, it made impressive $91 move with a week, and closed the 4th week
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Read more →FTSE 100 and DAX 30 print similar technical pictures. Both lost ground last Friday (13 January 2012) prior to S&P downgrades (Germany not downgraded) by making new lows compared to trading on Thursday. Both start trading today below this level. As long as not taken out, it
Read more →Gold closed the 1st week in Jan 2012 higher than the last week of 2011 at 1616 and it forms a higher high and higher low compared to the previous week. This may sounds bullish. Upon inspection of the daily chart, we have two potential scenarios. The
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Read more →I am a bear. Nearly a month ago, I wrote a piece describing how bearish Dow setup resembles 2007. Market development over the next two weeks reinforced my belief in this observation. RELATED ARTICLES Are Dow technicals doing a 2007 re-run? In fact it becomes more noteworthy
Read more →The Dow Jones bulls had another victorious week, pushing the index to new highs for December and completing the golden cross. This is a bullish sign for the index. (The definition of a golden cross is when the 50 day moving average crosses the 200 day moving
Read more →EURUSD continues to tighten, printing a consolidation pattern that resembles a triangle over 3 weeks. In a trend, this pattern is expected to lead to a continuation play. 4-Hourly Chart We can see that EURUSD expanded downwards in Week 44 following the October EU Summit. The subsequent series
Read more →Gold moved down for the 2nd week in a row. Bear managed to bring it down below 1700 and closed at 1680 after making a new low for November at 1666. 1666 is the current support level as price is ranging or consolidating around this region and
Read more →The EURUSD has moved South for 4 weeks in a row. Based on action in Week 47, downward pace has picked up based on the extent of movement away from Week 46 low. 4-hourly chart Bears had a relatively good time last week as there is little
Read more →Last week (week of 14 Nov), gold closed lower than the previous week (week of 7 Nov). It opened the week at 1795, hit low of 1710, and it closed at 1723. This confirms the resistance at 1800 and it forms lower high and lower low compared
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