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.
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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
* 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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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
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