This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
Meanwhile, life goes on in the orderly, rigged market.
The trend is intact, but it has run into a bit of resistance near the round number and the top of the megaphone pattern that is shown nicely on the 2 hour bars.
The sideways trading of the last 2 days appears to be a 3 and 5 day cycle down phase. Then the down phase just plays as a range, it’s usually bullish, leading to a breakout on the next up phase, which is due to start later today or tomorrow.
Key support is 4478-80. If that breaks, the deal is off for now. But if they clear 4503, then 4520-30 beckons.
Hourly bars
And now for your longer term listening and dining pleasure:
This Could Be the Start of Something Big for Gold
Here are the Keys as the Trend is Intact, But on Edge
Despite the Rally Primary Dealers Are Still At Risk
Chart Picks – 4 New Picks From Friday’s Swing Trade Screen
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
