November 18, 2013
- in Uncategorized by schooloftrade
Crude Oil and Gold Chart Prep
Gold Futures:
 |
| Gold Anchor |
Gold is moving lower this morning with a long-term trend that
is bearish on the anchor chart. We can
see a recent test of the buy-zone at 1279.6 so we are looking for a short-term
bounce off this buy-zone, followed by a selling-opportunity at resistance levels
overhead around 1285.00 and 1287.00. The
trend is down, so we are looking for selling-opportunities as price retraces
off these lows. We will use the buy-zones
and support levels below us to take profit on our shorts today.
Crude Oil Futures:
 |
| Crude Oil Anchor |
Crude Oil is moving lower this morning with a long term trend
that is bearish on the anchor chart. We
can see points on the chart above us that will make for excellent trading
opportunities short later this morning.
We will sell short as price retraces off these lows and use the support levels
below us as profit-targets for our short-selling.
that is bearish on the anchor chart. We
can see points on the chart above us that will make for excellent trading
opportunities short later this morning.
We will sell short as price retraces off these lows and use the support levels
below us as profit-targets for our short-selling.
Remember, Crude Oil will rollover this morning to the 01-14
Contract but we aren’t quite there yet with the volume still higher on the
12-13 contract.
Contract but we aren’t quite there yet with the volume still higher on the
12-13 contract.
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