Tag Archives: market timing

“Double cross’ pattern triggers new swing trading opportunity in Silver. [chart]

Silver crossed above the up-sloping median (center) line and closed beyond the line on Friday and Monday. However, heavy profit-taking pressured the market on Tuesday, causing the Silver t0 dip below the line. The sell-off ended quickly and Silver surged above the line for a second time during Wednesday’s trading session forming a “double cross”… read more

Bullish reaction swing portends new rally in Crude. [chart]

The International Energy Agency said that it expects world oil demand to average 86.6 million barrels per day (mbd) in 2010, slightly more than the previous record high of 86.5 mbd in 2007. Crude zoomed through the ascending median line and closed above the prior swing high of 85.43 on April 6th. From this new… read more

Coffee turned lower by the up-sloping median line. [chart]

This chart, of the May Coffee, is a good illustration of the significance of the median (center) line. The line acts as dynamic resistance as the market trends higher. Coffee tested the median line three times during the cycle and failed after the fourth test on April 5. The swing pattern failure signaled an end to the upward trend and triggered… read more

Crude oil is setting up for the next swing higher. [chart]

Crude zoomed through the ascending median line and closed above the prior swing high of 85.43, posted on January 11, 2010. Having used its energy, Crude pulled back  to an area of support provided by two action-reaction lines and the 20- day sma. This price action has formed a bullish reaction swing, above the median line,  and set up… read more

Silver crosses the median line. What’s next? [chart]

Silver crossed the major ascending median line with good separation. Silver had tested the median three times in the past five days, but pulled back each time. A close above the line–with good separation–is a bullish indicator and portends a continuation of the updward trend. The next target objective is $18.85. However, the major reaction… read more

Canadian dollar trades at parity with the U.S Dollar! [chart]

The Canada dollar has traded equal to the U.S. dollar for the first time since July 2008.  The Canadian dollar, also nicknamed the loonie for the aquatic bird on the C$1 coin, is being supported by the rising price of crude oil and the prospect of higher interest rates. The last time the Canadian dollar traded at par with the U.S… read more