By Colin Twiggs
September 13th, 2012
These extracts from my trading diary are for educational
purposes and should not be interpreted as investment or trading advice. Full
terms and conditions can be found at Terms of
Use.
The Dollar Index broke primary support at 81.00 and the rising trendline on
the weekly chart, signaling reversal to a primary down-trend. Fall of 63-day
Twiggs Momentum below zero strengthens the signal. Expect retracement to test
the new resistance level at 81.00/82.00. Respect is likely and would confirm
the primary down-trend.
* Target calculation: 81 - ( 84 - 81 ) = 78
Spot Gold continues its advance toward $1800 per ounce*. Recovery of 63-day
Twiggs Momentum above zero indicates a primary up-trend.
* Target calculation: 1650 + ( 1650 - 1500 ) = 1800
Brent Crude continues to consolidate between $112 and $116 per barrel.
Upward breakout would test $126. 63-Day Twiggs Momentum recovery above zero
strengthens the bull signal. Reversal below $112 is unlikely, but would signal
another test of support at $100.
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