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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

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Saturday, April 13, 2013

Gold, Silver, the Commodities Index, and Gold vs. US $

The following Weekly charts of Gold and Silver show that the next major volume support levels, (as depicted in their Volume Profiles along the right side of each chart), are:

  • 1360ish for Gold. then 1150ish, and 
  • 18.00ish for Silver



And, I'm watching to see how price reacts to the recent bearish "Death Cross" formation on the Commodities Index, as noted in the Weekly chart below. A drop and hold below 800.00 should see lower prices ahead...possibly down to 700.00ish. (Note that although my chart provider has it labeled as the home price index, that is incorrect...it is, in fact, the commodities index.)


And, finally, this Weekly Gold:USD ratio chart shows that price is just below the 200 moving average. Until the indicators reverse their current downtrend, Gold may continue to weaken relative to the US $.