Oil…we got to 92 a little faster than I expected. All new strength is needed over 92.25 is needed for more upside. Brent…102.25 is Fib resistance. 102.90 can reject the first time up with the next good resistance and tgt … Continue reading
The Gold is trying to put in the pattern it couldn’t complete yesterday which was an ORH in the GLD ETF as well as the futures. 1691 is the short swing Fib resistance the first time up.
Buy the Gold with a “1674″ stop. We’re looking for 1715 ish initially. ETF traders GLD…A close today over 163.17 should have you long looking for 165-166
USD/INR…Indian (Rupee) is putting in an ORL week, meaning the Rupee is bottoming and now starting to gain strength. I’m mentioning this because India is traditionally one of the largest buyers of precious metals for personal consumption. A strong Rupee … Continue reading
Copper…is poking it’s head up with an ORH day yesterday. Looking back at the cloud you couldn’t of had a better low to hold @ 340 ish. 355 is the first third coming back on a yearly swing with 360 … Continue reading
AUD/USD and in particular the crosses AUD/JPY , EUR/AUD, AUD/CAD are extremely over stretched directionally on the daily charts. We expect to see some profit taking in these crosses this week to relieve the RSI’s, however there is still room … Continue reading
1690-1700 is the first Fib match area coming back up on a 2 year swing. The daily Pit Futures are putting in an ORH which should lead to a test of this level. The GLD ETF sets up slightly different, … Continue reading
(Z) Dec. Gold…we’ll be using a 1650 Intra- day Stop. TBT…while fixed income remains firm we’ll use a 15.18 Stop Close.