tag:blogger.com,1999:blog-4363707944748952823.post4294809269104166018..comments2024-03-29T05:07:18.851+01:00Comments on practical technical analysis: Short term updateKrasihttp://www.blogger.com/profile/07425885123775585052noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4363707944748952823.post-30400667138994288922013-04-17T06:53:03.268+02:002013-04-17T06:53:03.268+02:00Such whipsaws are normal for a topping process, bu...Such whipsaws are normal for a topping process, but this time we have too many reversals. If you look at other tops there is 2-3 days in one direction and now up-down-up-down and the last two days 30 points down an than 22 up....<br />Gold - I do not think that the secular bull is over. Commodities market have a little bit different dynamic, but the psychology is the following(human beings react always the same way):<br />- First such violent moves appear near to the end of a move not the beginning(there is no more sellers).<br />- Second such violent moves cause a snap back move to normal and now we have market breadth indicators at 0 for the gold. <br />- Third the "scary" move is usually not the bottom it is tested one more time - higher low or lower low with divergence.<br /><br />I would say expect some kind of a snap back rally, test of the low(it could be lower low) and resume of the bull market. Just to say I do not follow the commodities very close... pure psychology.Krasihttps://www.blogger.com/profile/07425885123775585052noreply@blogger.comtag:blogger.com,1999:blog-4363707944748952823.post-85810675075200223762013-04-16T23:40:56.735+02:002013-04-16T23:40:56.735+02:00Krasi, this market has been whipsaw-city! Is this ...Krasi, this market has been whipsaw-city! Is this a function of the central bankers manipulating this market? What do you think about the plunge in the precious metals? looking at the gold chart, would you recommend a long entry into GLD or SLV? Thanks for your wonderful blog and for posting your trading system signals in a timely manner. I always check your blog each day before making a trade.Anonymousnoreply@blogger.com