Monday, 19 March 2012

Gold, EurUsd & CL J12

Nice double tops here or part of a continuation pattern?At the time of posting it certainly looks weak but price can turn on a the head of a pin and if we make a HH then i suggest we will resest the high 1600's but what is more probable is for price to return to the blue horizontal ML at 1648/49$ ( below) but as this pattern stands right now it looks to 'neat' and tidy so there's nothing to do but watch.

I watch Crude but rarely trade it but have a look at the two charts below. Support off the ML and d/sloping reaction lines. This is one of two outcomes. If price holds on the ML then it should surge through and upwards or it will fail here. The fundamentals are slackening for crude but my opinion is that we may see a break either up or down.

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