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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

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

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Wednesday, August 19, 2015

Commodity "Bits & Bites" -- GOLD, COPPER & OIL

Here's my quick take on Gold, Copper, and Oil...

GOLD
  • a drop and hold below 1072.30 on GOLD could, finally, see price retest the 1000 level, or lower, since there is an absence of volume support down to this level, according to the Volume Profile shown along the far right side of the chart
  • 1150 = major resistance
GOLD Weekly

COPPER
  • a drop and hold below the current price on COPPER (2.274 and now sitting at the downtrend channel "mean") could send price plunging
  • 2.385 = major resistance
COPPER Weekly

OIL
  • OIL is now sitting at 2004 prices
  • it could drop as low as 33.20 (major support), or lower...no end in sight, since there is little volume support down to this level, according to the Volume Profile shown along the far right side of the chart
OIL Weekly