Monday, February 24, 2014

Trading Week 24/02/14

Monday 24th Feb (Sydney 9 pm) 
USDX: some weakness is creeping in here and this has helped Gold to climb up over the resistance of the daily 200 EMA:
USDX 4 hr:
Gold 4 hr:

Silver 4 hr: has not broken above resistance just yet:

Monday 24th Feb (Sydney 5.10 pm) 
Indices:Not much movement here at all today on the indices or anywhere for that matter. I suggested as much in my w/e write up though:

S&P500: I have been noting how I don't think we'll see any clear 'risk on' or 'risk off' movement anywhere until the S&P500 resolves this 'triple top' situation and I still believe that to be the case. I think we need to see a clear 'make' or 'break' of this region so as to give other trading instruments some guidance as to direction. This may take a few days to sort out too given there is little 'red flag' market-moving data out tonight or tomorrow; just EUR German Ifo business climate later today and USD  consumer confidence tomorrow. Ho hum!

Silver: still chopping sideways above the S/R level of $21.50 and under the daily 200 EMA:

Gold: also chopping sideways under the daily 200 EMA:

Gold and Silver both look hopeful though but would need the USD to weaken to help their cause!

U/J: still 'planking' under the monthly 200 EMA:

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