Tag: trade triangleSort
Crude Oil and Gold Continue Strong Down Trend, Natural Gas Enjoys the Stronger Dollar
Crude oil closed down $1.70 a barrel at $93.08 today. Prices closed near the session low today and hit a fresh 6 1/2 month low. The bears have the solid overall near term technical advantage and gained still more power today. A stronger U.S. dollar index today was bearish for the crude market. With a Trade......
Has Gold Embraced it’s Fibonacci Number and Began to Base Out?
Yesterday the gold market pulled back into a perfect 61.8% Fibonacci retracement. We expect this market to begin to regroup around current levels between $1600 and $1620. With a trading score of -90 the gold market is in a strong downward trend. Look for resistance to come in between $1680 and the $1700 level. With all three of our.....
Crude oil [May contract] closed higher on Monday as it consolidated some of last week's decline. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near term.
Crude Oil Closes Above $108....Is This a Positive Sign?
Crude oil [April contract] closed higher on Monday while extending the trading range of the past two weeks. The high range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term.
Only our longer term monthly Trade Triangle for crude oil remains positive on this market. The move today below the $98 support level puts this market in jeopardy of further weakness. A close below the $93.50 level seen on December 18th would confirm a double top pivot point formation, which would measure down to the $84 a barrel level.
After the close today, Apple will announce its earnings.
No one knows for sure what the earnings are going to be. I thought I would like to do a video before the earnings just to show you that you don't have to be glued to the market on a 24/7 basis.
Apple has been on an upward trend for most of the year based on some very solid products that it has brought to market.
Today I'm going to take another quick look back at a popular ETF USO, or United States Oil. You'll quickly see how the MarketClub "Trade Triangle" strategy is working in this market.
In this short video, I give you a specific triangle to look for in the future and how this market can play out in the next two months.
Today's short video is a follow-up to the video that I published on July 10th for this particular cross rate. MarketClub's "Trade Triangle" technology alerted our members of a sell signal today (7/21) and I wanted to share it with you. The video is short, to the point and shows what I expect will happen to the dollar vis-a-vis the yen in the next several weeks.