Commodites Got Hit on Monday (Apr 11)

Commodites Got Hit on Monday (Apr 11) mainly due to Goldman's sell recommendation on Oil.  

Below are TSX and Gold.  TSX is resource heavy and was hit hard Mon and Tues (Apr 11 and Apr12).  However, looking at the chart, the trendline seems to be intact.  Support comes in at 100-day MA and thats where the trendline support happens to be as well.

 

Gold's trendline is intact as well…Gold pulled back to the breakout point and reversed back up again.

 

One last thing: TSX seems to look very similar to the gold chart.  On Mar 30, I posted an article expecting a monster move in gold.  And we got that on Apr 5.  Now, TSX looks to be setting up for a monster move up as well.

I'll post another article focusing on SPX AND TSX..

This entry was posted on Thursday, April 14th, 2011 at 12:55 am and is filed under Financial Markets/History, Original Articles, Trading, market commentary. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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