CommoditiesTrader

CommoditiesTrader

Bitcoin traded through the descending channel, which was completed on the selling purge through $280. Although the spike created large positive volume, price action outside the channel remains weak. This is likely to to a "buy on the dip, sell on the rip." Price action is thought to remain between a larger sideways zone between support of $357.21 and resistance...

CommoditiesTrader

Gold and silver look promising. Gold breaks out of a strong descending channel, trading above the 50-day EMA. Prices likely to trend to supply zone between $1,247 and $1,254. Silver looks to have found a bottom, although strong resistance near $17.78. Get my full review here: tinyurl.com

CommoditiesTrader

I am bearish on the US dollar, and I expect the loonie to gain ground. The BoC is not engaging in reckless monetary policy, even though, at times, traders found them absent. Canadian CPI is stronger - just above two percent YoY - than in the US, which should favor CAD. The Fed wants a weaker dollar. The Fed said it; Yellen said it. Don't fight the Fed, right? The...

CommoditiesTrader

Short if 107 holds and price action remains in the channel. Price likely to move back to the first support level. However, a break through the channel could see upside to 107.37. The dollar and S&P seen a bounce after sharp declines, but this is likely to be short lived. Outlook til the end of the week.

CommoditiesTrader

Currently, USDCHF tracks the dollar index more closely than other pairs. It is important to realize that each pair's performance is dependent upon the performance of the pegged currency.

CommoditiesTrader

Here is my short-term view: tinyurl.com A continued weakened USDCHF will support gold prices.

CommoditiesTrader

Just a guesstimate when considering last two meltdown. Each was steeper than the last, and each plunged further in shorter amount of time. Considering the Fed, it's likely

CommoditiesTrader

Gold seen support, forming a triple bottom near 2013's low, which still remains solid support. $1,239 still remains an intermediate target before higher longer-term resistance levels are reached. In my opinion, given the overall bearishness, if the economy and such was so remarkable, gold would have sank by now. Even four-year highs on the DX couldn't send it...

CommoditiesTrader

S&P Futures are seeing a large sell-off, after putting in a double-top through a longer-term wedge pattern. Current price action has broke the large, ascending trend line first created in in 2012; subsequently, that was the last year the S&P saw a 10+% correction. Reality sucks when key data points deteriorate. Housing data is continuing its downward path, while...

CommoditiesTrader

What I'm thinking: bullion.directory

CommoditiesTrader

The Russell 2000 has seen strong moves to the downside, as market participants wonder whether or not there is a market top in place (regardless of what CNBC says), Price action is in an important place, resting on an ascending trend line created in mid-June. A break (with a retest and rejection of new resistance/former support is best) would iniate a short...

CommoditiesTrader

I don't trade bitcoin often and non-baised on it's direction. Although, I believe it is valuable in the sense of a technology standpoint and method of payment. In the future and after price stability, it could become an alternative method of currency. $378.05 looks to be a predominate support level, as price action lingers in a demand zone. If price can trade out...

CommoditiesTrader

The dollar went parabolic on the assumption the Fed will hike interest rates. This is highly unlikely on several fronts: 1. Key economic data has been mixed and deteriorating. Higher rates will finish off the housing sector, kill the borrowing mentality of the American consumer, and dry up what little financing that is going on. 2. The serving of current public...

CommoditiesTrader

Gold is targeting the 2013 low of $1,179.40, where demand should be found and corresponds with a longer-term ascending trend. However, if prices continue to deteriorate, price action will search out S2, or $1,108. If support is generated -considering the oversold condition on short-term time frames- gold could see upside traction to $1,311. Key economic data...