US Dollar Bear, How to Profit
Using technical analysis we review 4 charts and find ways to profit from a bearish US Dollar chart pattern, being Euro currency, Gold, and Gold shares using GDX ETF. Of course everything involves risk however this is strictly educational in natures and is not financial advice.
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BGFV has just come out of a 50% correction and now ready for the next bull move.
The stock is trading above both moving averages, the RSI is above 50, and the DI have crossed into the bullish zone. However it only has one analyst with a strong buy rating.
Lean Hogs have been in a 2 month consolidation after reaching multi year highs.
The DI's have crossed upwards, and the RSI has broken the trend line, the price is above both moving averages so everything is looking like a breakout to the upside.
Most traders would still wait for the price breakout of the triangle.
After a brief correction from recent highs the December contract for Coffee broke through short term resistance of 190.00 on Friday on good volume.
As shown by the moving averages and the upward sloping trend line coffee is in bull mode. The DI's and the RSI are confirming the move.
Will we get back up to the recent highs?
Billionaire Jeremy Grantham is our very special guest on today's episode. He is the co-founder and long-term investment strategist at GMO, one of the world's most well-respected asset management firms. Jeremy is an investing legend and studied market historian, who successfully identified and sidestepped the major corrections such as the Japanese market in 1989, the tech bubble of 2000, and the global financial crisis of 2008, and even called the bottom in 2009.
Is this finally the bottom that we have been waiting for?
4 analysts have it rated as a Strong Buy with one year price targets between $21-$30.
The ADX just turned down, the RSI just crossed above 50, and the the stock is now above the 50sma, so we now have an opportunity to get in early on a new bull move.
Ultimate longterm target could be just under $200. Will it happen?
