Monthly Archives: October 2011

Commodities Rise, While We Wait for Europe

Continued economic uncertainty regarding a final European solution towards supporting banks and the leveraging of the European Financial Stability Facility (ESFS) to mend the European debt crisis, did not prevent the euro from maintaining its strength over the U.S. dollar.

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Why is the Euro Strong? Nevermind, Gold is the play!

Is the euro stronger because the financial markets really believe the expansion of EFSF will bring stability to the eurozone? Do the financial markets feel that a structured Greek default will allow the markets to move on?  Will the fear

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BAC Bullish ABCD Pattern on 60-minute chart

A bullish ABCD pattern just formed on Bank of America’s 60-minute chart.  If valid, price action could see a test of the $5.92 level.  If further downside momentum continues, key support will lie at the $5.30 area.

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Gold Approaching Key Resistance

Gold is higher for a third consecutive day, after investors returned to the safe haven currency on news that Greece will miss their deficit targets. The recent rally is facing critical resistance at the $1.680.00 level, and the 200 period

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