Oil & Gold - Page 2

VINCY BALBOA · #16 (**permalink**) 09-03-2009, 08:02 AM

Quote:

Originally Posted by sheldor

hi sean again.my elliiott wave chart died or live?

Ah…. First you are Using Stachastic 5.3.3 In a Higher Time Frame.. That is Stickly not Good In Weekly Chart If you want to measure.

15.5.6 Is good… One if you are Going to Weekly Chart To Measure it..

The CCI.. Commodity channel Index is 14,,, that is Default Setting.. But In My Observation CCI= would be the 9%... in any Time Frame.

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But It Can Be The Bullish {PENNANT}…..

thanks

Sean Hyman · #17 (**permalink**) 09-08-2009, 01:42 PM

Gold hits $1,005 today! Could see a pull back soon I'd think, before heading higher.

Triangle chart pattern target eventually takes gold up to $1,170ish in time if the measurement from the chart pattern holds true.

Sean Hyman · #18 (**permalink**) 09-09-2009, 11:13 AM

Gold consolidates and will likely take out the red downward correction line within the larger uptrend.

Once gold trades into the green circled area and closes there, we could see the next move higher into new highs!

Just something to keep in mind if you are trading CFDs with us through the FXCM UK office. CFD Product Details

Sean Hyman · #19 (**permalink**) 09-10-2009, 11:21 AM

MACD above the zero line and histogram growing less negative. Upward sloping moving average acting as support. Stochastics about ready to turn higher.

Once gold trades into the green boxed area and closes a candle there or higher, we'll see our next rally upward to surpass the recent highs.

Sean Hyman · #20 (**permalink**) 09-10-2009, 11:27 AM

Many bullish signs for oil cropping up. However, the biggest sign will be once it closes above the red resistance line at 72.50ish.

FXCM CFD traders, check this out and see what you think.

Sean Hyman · #21 (**permalink**) 09-10-2009, 11:32 AM

The Dow has cleared one hurdle (downward sloping resistance line). Now it needs to clear the horizontal resistance into the green circled area and close a candle there and we'll see higher heights on the Dow.

If this area is rejected and it can't close above that, then we'll likely see the short sellers come in and dominate in the short run.

Sean Hyman · #22 (**permalink**) 09-16-2009, 01:20 PM

Gold soars to $1,018 an ounce and trounces stocks!

Sean Hyman · #23 (**permalink**) 09-17-2009, 04:38 PM

For the CFD, commodity and stock traders out there...updated charts on gold, oil and the Dow.

Sean Hyman · #24 (**permalink**) 09-18-2009, 01:50 PM

Gold came within $8 of an ALL TIME HIGH today!

speculator84 · #25 (**permalink**) 09-20-2009, 09:09 PM

The forex news feeds are trying to pitch that the IMF gold sales are price negative tonight....it's funny the guys who were trading gold in the 70s and 80s say that it only allows big players to enter the market @ a fixed price and puts floor under price!!

1000$ floor?!!! Thanks IMF!

Sean Hyman · #26 (**permalink**) 09-21-2009, 01:46 PM

Quote:

Originally Posted by speculator84

The forex news feeds are trying to pitch that the IMF gold sales are price negative tonight....it's funny the guys who were trading gold in the 70s and 80s say that it only allows big players to enter the market @ a fixed price and puts floor under price!!

1000$ floor?!!! Thanks IMF!

speculator84, yeah I think that's mainly hype on news feeds. Much of their sales are usually done "off exchange" and will sell to someone that is a huge buyer.

But these sales rarely hold down the price because of this. However, the initial news of it almost always jolts it for a bit. Then the trend resumes.

We'll know shortly how it acts this time around.

Thanks for commenting, speculator.

Sean Hyman · #27 (**permalink**) 09-22-2009, 02:11 PM

http://forexforums.dailyfx.com/marke...tml#post346087

Sean Hyman · #28 (**permalink**) 09-23-2009, 03:15 PM

For the CFD traders out there:

Supply gains causes oil to tank today: Oil Drops the Most in 5 Weeks on Unexpected U.S. Supply Gain - Bloomberg.com

Sean Hyman · #29 (**permalink**) 09-24-2009, 11:09 AM

CFD traders....watch out for the oil breakout coming soon out of this ascending triangle daily chart of oil.

See which way a candle closes beyond the lines. That will give you a sense of the direction that oil may take.

Sean Hyman · #30 (**permalink**) 09-25-2009, 12:28 PM

Oil breaks down through the ascending triangle pattern...and it helps to push USD/CAD through its downtrend line.

CFD traders could consider a short on oil.

Forex traders could consider a long on USD/CAD.

See what you think.