Tag Archives: symmetrical triangle
Is the trend in gold down as some analysts have already declared it? I know a few people who would deny that the trend is down, a few more who would claim that the trend is sideways and even some that … Continue reading
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
After forming a classic 5-leg symmetrical triangle followed by and up breakout, the S&P/ASX200 index is in for a bumpy ride with multiple resistance levels ahead plus the obstacle of the 200-day simple moving average.
The past year was marked by a high number of failed technical analysis patterns. It appears that another failure is in the cards, this time it is the formation of a symmetrical triangle in TLT, although it may be still early for that.
As indicated in two previous posts on December 6 and on December 14, $27.41 is an important support level for SLV. Last Thursday, December 15, 2011, this silver ETF made an intraday low of $27.70 and then closed +2.2% on Friday at $28.85. What is next?
As of the close of Friday, November 18, 2001, there are more failures of traditional chart patterns and downside breaks of rising channels. In SPY we have a failed symmetrical triangle, in GLD and SLV downside breaks of rising channels and in USO … Continue reading