Gold Update

Strong closing this week. If you notice gold futures have made a double bottom on the daily. They are also taking a lot of time to move north , which is a good sign . The more the consolidation at lower levels the stronger is the base it will form prior moving north. Updated target for gold is now 1741 , which should be slow to attain. But do remember , buying on dips is better than shorting , unless you have very strong negative divergence.

Please also notice the divergence at play on daily and 4H.

Natural Gas

The first target I had mentioned missed by a whisker since the high 2.406. Anyways buys on dip is the strategy for NG now and 2.477 is still on the radar with 2.504 up next.

Natural Gas Action

There is a alot of divergence on the Natural Gas futures on the daily and especially the weekly charts. For the immediate look at 2.414 ,  if that holds we head to 2.494 and then a strong resistance at 3.1. 

Gold updates

Gold heading to 1681 for now. That is the immediate target. Once that is reached i will update further.

Gold behaves as predicted

Last Sunday I had written about expecting gold to retrace before it continues it's move north. Is the correction finished ? Difficult to say . There's a lot of commercial shorts which have been built up the last week. Furthermore ,

Different Choices- FOREX

For all those who are in the Stocks and Commodities markets... a bit of advice ... try Forex.. far less manipulatable ( I know that's not a word !! ) .. and far more relaxing ... since its a 24 hr market... there are a lot more advantages...its a slow and steady addition to your ledger..