Tuesday, November 3, 2009
15 MINUTE DECEMBER CRUDE OIL CHART (delayed prices)
AND HOW DO YOU TRADE THIS MARKET WITH
ANY CONFIDENCE?
GOLD MAY START TO SELL OFF AHEAD OF THE CLOSE THEN RISE IN AFTERNOON TRADING, OR THE OPPOSITE
THIS IS A DIFFICULT MARKET TO CALL RIGHT NOW
THE BEST THING IS TO HANG ON TO YOUR LONG
POSITIONS AND CASH GOLD AND TAKE A NAP
ONE MINUTE DOLLAR CHART (delayed prices)
THIS CHART AVOIDS THE BIG SPIKE EARLIER THAT
DISTORTS THE SCALE OF THE CHART
GOLD IS EXHIBITING TOPPING ACTION BY MAKING A SLIGHTLY HIGHER HIGH THEN PULLING BACK
GOLD COULD JUST RANGE TRADE HERE AND
CONSOLIDATE FOR A FURTHER MOVE HIGHER.
THIS APPEARS TO BE A REACTION TO THE INDIA
PURCHASE OF GOLD FROM THE IMF. THE OTHER
MARKETS AREN'T REACTING TO THIS MUCH SO
THEY AREN'T GIVING ANY CLUES TO WHICH WAY
GOLD IS GOING TO MOVE. I AM INCLINED TO THINK
PROFIT TAKING WILL BEGIN SOON.
STRANGE TRADING IN THE CURRENCY MARKETS, DOLLAR SPIKES UNNATURALY, EURO PLUMMETS
GOLD HAS RECOVERED A BIT, BUT HAS JUST MOVED
LOWER AFTER A 75% RETRACE BACK UP AND IS NOW
MOVING BACK UP AHEAD OF THE CRIMEX OPEN
SHOULD BE AN INTERESTING DAY AHEAD
GOLD RETRACES BACK UP TO THE 1ST RETRACE POINT
WILL IT PULL BACK NOW OR GO UP TO THE LOWER BLUE UPTREND CHANNEL
LINE WHERE IT SHOULD MEET RESISTANCE
VERY UNUSUAL ACTION IN THE DOLLAR
THIS ONE MINUTE CHART SHOWS THAT THIS IS
NOT A 'BAD TICK' AS IT TRADED FOR SEVERAL MINUTES.
SO, WHO WOULD BUY THE DOLLAR IN SUCH A MANNER
THAT WOULD TAKE IT TO 81.34. IT WOULD TAKE A FOOLISH
MARKET BUY ORDER TO TRIGGER THAT MANY HIGH SELL ORDERS
AND WOULD BE OF SUCH A VOLUME THAT ONLY A VERY WEALTHY
ENTITY COULD AFFORD TO PLACE SUCH AN ORDER
