Posted by racerick on 14th of Nov 2014 at 05:40 am
Pretty wild night. USD broke out of it's pennant and then came
all the way back down to test it's breakout. Gold got whacked back
down to 1150 and hasn't been able to mount much of a bounce, still
not able to get back over S1 as I write.
Oil got hit for another dollar down to $73.25, which was close
to a support area on the weekly, and has bounced about a
point back up, slightly above it's close. May have put in a short
term bottom here, but we'll see. LOL, It started bouncing about the
time the IEA came out saying oil could fall even more. All we need
now to get it really bouncing is for Gartman to say it's going to
$50.
Oil
5 year Weekly Chart
Bond futures still in their tight range.
Index futures have been up a little, most of night. USD/YEN made
new highs
I was looking at the Index:Metals ratios as the indices seem to
be stretched, and they could be seen to be at hugely potential
inflection points, but could also see stocks breakout perhaps/?
Also the GSR stretched above the 'wedge'...
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Posted by racerick on 14th of Nov 2014 at 05:40 am
Pretty wild night. USD broke out of it's pennant and then came all the way back down to test it's breakout. Gold got whacked back down to 1150 and hasn't been able to mount much of a bounce, still not able to get back over S1 as I write.
Oil got hit for another dollar down to $73.25, which was close to a support area on the weekly, and has bounced about a point back up, slightly above it's close. May have put in a short term bottom here, but we'll see. LOL, It started bouncing about the time the IEA came out saying oil could fall even more. All we need now to get it really bouncing is for Gartman to say it's going to $50. Oil 5 year Weekly Chart
Bond futures still in their tight range.
Index futures have been up a little, most of night. USD/YEN made new highs
Nice USD chart racer...
Posted by saturn6 on 14th of Nov 2014 at 06:20 am
I was looking at the Index:Metals ratios as the indices seem to be stretched, and they could be seen to be at hugely potential inflection points, but could also see stocks breakout perhaps/? Also the GSR stretched above the 'wedge'...