Saturday, May 28, 2011

Unable to Post do to Electrical fire

Hello, I recently had all my equipment damaged do to a rare electrical fire while away and need time to rebuild. So at this time I am unable to make research the market properly. I have been working on the repairs and I'm about 50% done. I expect to be back within a week.
Sincerely, TraderNeal

Tuesday, May 17, 2011

1hr Gold refuses to test support but

still below pivot - see chart above.

Gold Getting Smashed in 1hr timeframe

Gold getting rejected at 1hr Resistance and 1hr pivot. Seems to be heading to Support. See chart - click to zoom.

Wednesday, May 11, 2011

Daily Gold Bulls still in control

To add to the confusion of the gold pattern the 1hr chart(see previous post) has been volatile but favoring the bears. In the daily chart (click image above to zoom and expand) the Bulls are still in control of the daily Gold pattern.

Indicators used are available here.

Gold 1hr unstable

Gold having a hard time deciding which way to go and is volatile around the 1500 price area. Spot Gold in 1hr time-frame hit resistance 2 and sharply retraced below pivot - see chart above click to expand and zoom.

Tuesday, May 10, 2011

Gold firming back up after strong correction

see 1hr gold chart above - click to enlarge and click again to zoom.

Monday, May 2, 2011

Bin Ladin Dead But Gold Sets Record High 1576.48

Spot Gold retraced slightly from it's record all-time high 1576.48. It has carved many new record highs in the last few weeks. It was a historical day for the US military capturing and killing Bin Laden or was it... Obama and the news announced that he was dead while Gold at the same time traded near historical highs and crude oil traded at it's highest since 9/1/2008. Spot Crude Oil All-time Record High was set on 7/11/2008 @ 147.90 on a historical crude oil chart. Some speculators believe crude oil could eclipse the all-time high because of dollar weakness, the compounding national debt, and runaway commodity inflation that has shown little weakness. The US war effort has not helped the commodity situation as the cost of war is also an inflationary cost and the military uses alot of fuel to do operations, missions, and the cost of being in another country. This cost is not being taken from the enemy country - it is taken from the US taxpayer. Needless to say - no matter what you opinion is - the fact is commodities are in-fact soaring.