The TREND is UP for most things, despite today's drop. Is today's drop the start of more significant correction? Or a bear trap?
FTSE
Sell support?or BUY support?
Technical analysis of Major Markets, F/X, and anything that can be traded This is my diary for trading Views expressed in this are only for educational purposes. They ARE NOT recommendations to BUY or SELL anything!! ALL comments and criticisms welcome.
Quotes
Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.
— Marcus Aurelius
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Monday, March 18, 2013
Tuesday, March 12, 2013
Commodities ready to make their move?
Commodities may be bottoming
Gold daily
near support
in down trend still but at bottom of channel and horizontal support close by 1550
Copper daily
testing lower boundary of triangle (see weekly chart)
rebound to 377? 7%
Copper weekly
Silver daily
closer to support
at bottom of down channel
positive divergence RSI price
Gold daily
near support
in down trend still but at bottom of channel and horizontal support close by 1550
Gold weekly
testing lower boundary of triangle (see weekly chart)
rebound to 377? 7%
Copper weekly
Silver daily
closer to support
at bottom of down channel
positive divergence RSI price
Tuesday, March 5, 2013
Finally a break out to the upside imminent
Are the markets poised to break higher..finally?
The consolidation has been longer than expected BUT
the downside has been limited
the weak longs are probably shaken out
the bears have been given some hope
so NOW the market may be ready for new highs
FTSE 4 hr chart
A break above 6426 and holding should mean a new high for the FTSE.
and eventually possible all time high
AAPL
still not getting any love and hatred increasing. 406 next support after that 380
Yesterday finally filled a gap
Despite AAPL falling NDX has been holding well, if/when AAPL rallies NDX has a bull flag target of 2900
Quick look at NDX
The consolidation has been longer than expected BUT
the downside has been limited
the weak longs are probably shaken out
the bears have been given some hope
so NOW the market may be ready for new highs
FTSE 4 hr chart
A break above 6426 and holding should mean a new high for the FTSE.
and eventually possible all time high
DAX
Similar to FTSE long consolidation after rally from November. Again, despite only giving back max 4% the sentiment has been increasingly bearish.
Next hurdle for DAX is 7865
Euro vs USD
All currencies have been weak vs the USD recently. On the Euro daily chart it looks like some positive divergence creeping in. Euro may be due for a rally, and conversely the dollar due a fall?
still not getting any love and hatred increasing. 406 next support after that 380
Yesterday finally filled a gap
Despite AAPL falling NDX has been holding well, if/when AAPL rallies NDX has a bull flag target of 2900
Quick look at NDX
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