I'm not talking about Ford, General Motors and Chrysler,
but the commodity contract giants: the S&P 500, Gold, and Crude
Oil.
As we begin 2015, there are plenty of opinions on this
year's potential stock index futures returns. The median forecast is
for around a 15% gain this year. Well let's technically analyze this
market on a daily basis and come up with an objective strategy!The following is an update of the current technical condition for the big three.
Daily March E-Mini Futures
Gold futures have broken out to a five month high. From a technical point of view there appears to be more left on the upside.
Daily April Gold Futures
It seems that almost every day the headlines read Crude Oil down another 5%. Futures are down a whopping 52% from the June highs. Every talking head on this planet is plastering the headlines with downside predictions....$40, $30, $20, $10....Do I see $5 anyone? It appears that the lower prices go for crude the more bearish analysts become. Keep in mind that as a general rule commentary follows price. Forget all that nonsense and let's use some common sense! Below we have a monthly chart of Crude Oil prices.
Daily March Crude Oil Futures
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