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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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* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* 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.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.

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Wednesday, July 11, 2012

Gold/Oil/Copper/Silver Conundrum

Below are four Weekly charts of Gold, Oil, Copper, and Silver.

The price action for the past few weeks on each one is presenting as a bear flag, either at, just above, or just below a major support level. Any attempts, so far, to sell off below these support levels have been met with defensive buying/short covering...ones to watch for a potential break and hold below their recent lows as a signal of more weakness in these markets, which will likely have a negative impact on the equity markets...this ties in with the theme mentioned in my last post on the Major Indices and the Major Sectors.