September 27th, stock picks.
These extracts from my trading diary are for educational
purposes and should not be interpreted as investment or trading advice. Full
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* Target calculation: 81 - ( 84 - 81 ) = 78
Spot Gold is retracing below resistance at $1800 per ounce*. A 63-day Twiggs
Momentum trough above zero would signal a primary up-trend. Breakout above
$1800 would confirm, indicating rising inflation expectations in response to
QE3.
* Target calculation: 1650 + ( 1650 - 1500 ) = 1800
Copper is also retracing. Respect of 8000 would be a bullish sign. Again, a
63-day Twiggs Momentum trough above zero would indicate a primary up-trend.
Breakout above 8600 would confirm, indicating that global economic activity is
reviving. Failure of support at 8000 would suggest the opposite.Brent Crude is falling after breaking support at $112 per barrel. 63-Day Twiggs Momentum below zero warns of a primary down-trend. The fall, despite increased inflation expectations, reflects slowing economic activity rather than increased security. Syria and Iran remain concerns in the Middle East. Test of support at $100 would warn of another down-turn.
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