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Tag: Support and Resistance

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Gold and silver have taken more of a back seat over the past 12 months because of their lack of performance after topping out in 2011. Since then prices have been trading sideways/lower with declining volume. The price action is actually very bullish from a technical standpoint. My chart analysis and forward looking forecasts show $3,000ish for gold and $90ish for silver in the next 18-24 months.

Now don’t get too excited yet as there is another point of view to ponder…

Understanding forex technical indicators

Posted by forexpromos on October 9th, 2011

Forex technical indicators that are some of the most simplest and easy to use technical analysis in forex include Trend links, trend channel, support and resistance and moving averages.

Friday, September 30, 2011

Posted by btdmarketsummary on September 30th, 2011

The major indexes spent the entire session today in negative territory and saw the selling pick up during the last hour of trading.
Like in yesterday's session the Nasdaq Composite performed the worst finishing down 2.6% along with Semiconductor stocks down 3.4%.
The DJIA and SP 500 did not perform much better down 2.2% and 2.5%, respectively.

Thursday, September 29, 2011

Posted by btdmarketsummary on September 29th, 2011

The stock market had another volatility chop fest with the SP 500 up 2.2% at it highs down 1% at its lows to settle up 0.8%.
The swings in the Nasdaq Composite were even more wild up 1.9% at the highs down 2.3% at the lows to down 0.4% by the close.
China technology shares along with Semiconductor stock issues which lagged the overall market were the cause.

Wednesday, September 28, 2011

Posted by btdmarketsummary on September 28th, 2011

Stock traded higher at the beginning of today's session but then drifted lower the rest of the day (this has been the trend lately) with the major indices closing down at least 1.5% each.
The SP 500 support/resistance levels moved lower to 1,150 from 1,173 and 1,154 from 1,183.
The Nasdaq Composite did the same with support moving from 2,540 to 2,483 and resistance from 2,549 to 2,530.

Tuesday, September 27, 2011

Posted by btdmarketsummary on September 28th, 2011

The market turned gains of at least 2.8% each on the major indexes into minimum profits of only 1.1% as stocks gave back more than half of their intra-day returns.
The major indexes closed below their intra-day session mid-points.
Even so the support/resistance levels on the SP 500 did rise from 1,154 to 1,173 and from 1,165 to 1,183.

Monday, September 26, 2011

Posted by btdmarketsummary on September 28th, 2011

Stocks bounced between gains and losses early in today's session but by the close the major indexes rose at least 1.4% each.
SP 500 support/resistance moved up from 1,130 to 1,154 and 1,150 to 1,165.
Support/resistance on the Nasdaq Composite rose to 2,483 from 2,470 and 2,536 from 2,483.
SP 500 and Nasdaq Composite remain below their moving averages (21, 50, 200).

Friday, September 23, 2011

Posted by btdmarketsummary on September 28th, 2011

After yesterday's brutal sell-off stocks rose with the indices gaining at least 0.4% today palpable to the prior session's losses.
The broader SP 500 support level moved up slightly from 1,128 to 1,130 while resistance remains the same at 1,150.
The support/resistance levels for the Nasdaq Composite moved higher from 2,381 to 2,470 and from 2,468 to 2,483.

Thursday, September 22, 2011

Posted by btdmarketsummary on September 28th, 2011

Stocks declined heavy again with major indexes down at least 3.2% each today.
SP 500 support/resistance moved down from 1,165 to 1,128 and 1,173 to 1,150.
Nasdaq Composite support moved lower from 2,531 to 2,381 and resistance moved lower from 2,549 to 2,468.
SP 500 and Nasdaq Composite are now both below their moving averages (21, 50, 200).

Wednesday, September 21, 2011

Posted by btdmarketsummary on September 28th, 2011

Stock sold off hard with major indexes down at least 2% each.
SP 500 support/resistance moved down from 1,199 to 1,165 and 1,204 to 1,173.
Nasdaq Composite support moved lower from 2,580 to 2,531 (21 day moving average)-resistance moved lower from 2,598 to 2,549.
SP 500 is once again below its moving averages (21, 50, 200).

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