Tag Archives: head and shoulders

Gold May Soon Test Resistance Near $1,800 An Ounce

Posted on April 3, 2012 by Michael Harris

There are signs of renewed gold buying both by hedge funds  for portfolio reallocation but also an increasing retail interest for gold bullion. As a result, the $1,600 an ounce price support level established after last year’s correction has held and there are a couple of … Continue reading →

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Is the Inverse Head and Shoulders Pattern in Crude Oil Significant at All?

Posted on February 15, 2012 by Michael Harris

A chart pattern under formation in crude oil since the middle of last November resembles to an inverse head and shoulders. Does it make any sense to base any forecasts on this pattern? I argue that while this pattern is interesting, it does … Continue reading →

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Is Chart Analysis Modern Alchemy?

Posted on December 8, 2011 by Michael Harris

Recently there have been many chart pattern failures in several markets. One must be very careful with chart analysis because the market rarely rewards predictions that are obvious to anyone with a book on technical analysis and a personal computer running a charting program. Examples … Continue reading →

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Dow 4,000? What Technical Analysis Says or Doesn’t Say About Such Possibility

Posted on November 26, 2011 by Michael Harris

Recently I read an analysis about the possibility of Dow dropping to 4,000 or even as low as 1,000. The claim was that technical analysis of long-term charts supports such a possibility. I argue here that it is not pure technical analysis that … Continue reading →

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