Posted by varmercur on 8th of Oct 2014 at 05:03 am
Silver futures have made a clear right shoulder of an IHS in the
hourly chart. Just wondering whether it wants to go down one more
time to collect energy. Gold has been chugging upwards all night
and is about to touch the horisontal necklineof around 1222. I
would guess we could bounce down from there - maybe all the way
down to 1205ish if the symmetry is perfect. Currently both metals
look quite strong. I guess the amount of bearishness in PM's is a
tempting pray for longs.
Posted by varmercur on 8th of Oct 2014 at 05:14 am
Also - the US Dollar Index futures appear to be close to a
possible break downwards of the HS neckline in the 85,60-85,70 area
- that would give a textbook target of around 84,60 - and probably
also pull commodities up.
Posted by varmercur on 8th of Oct 2014 at 05:38 am
Steve/Matt,
what are your opinions on the US Dollar Index - are we going to
see a new and clearer right shoulder build for an HS from the
neckline around 85,60-85,70 - or are we going straight down. The
PM's would respond accordingly I presume.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
The SLV pattern you illustrate
Gold up today, gold stocks down hard
Posted by steve on 7th of Oct 2014 at 05:35 pm
The SLV pattern you illustrate certainly has merit so let's continue to monitor closely.
Silver futures have made a
Posted by varmercur on 8th of Oct 2014 at 05:03 am
Silver futures have made a clear right shoulder of an IHS in the hourly chart. Just wondering whether it wants to go down one more time to collect energy. Gold has been chugging upwards all night and is about to touch the horisontal necklineof around 1222. I would guess we could bounce down from there - maybe all the way down to 1205ish if the symmetry is perfect. Currently both metals look quite strong. I guess the amount of bearishness in PM's is a tempting pray for longs.
Also - the US Dollar
Posted by varmercur on 8th of Oct 2014 at 05:14 am
Also - the US Dollar Index futures appear to be close to a possible break downwards of the HS neckline in the 85,60-85,70 area - that would give a textbook target of around 84,60 - and probably also pull commodities up.
Steve/Matt, what are your opinions on
Posted by varmercur on 8th of Oct 2014 at 05:38 am
Steve/Matt,
what are your opinions on the US Dollar Index - are we going to see a new and clearer right shoulder build for an HS from the neckline around 85,60-85,70 - or are we going straight down. The PM's would respond accordingly I presume.