Tuesday, June 15, 2010

Gold, Crude Oil & Copper trend update

Crude is developing inside a Bearish Rising Wedge and the 200-DMA caps the ascent at $77.
Rate Of Change is showing the Momentum is topping.

Gold is either gathering strength to breakout to new High or to drop as a stone as it is the only commodity still in rising trend. Trend lines are still keeping is bid however the pivotal short term 21-DMA is turning flat.
RSI and Momentum are waning in accordance to the failure to take out the 1250 level twice.

Copper is going down in the trend channel and momentum and RSI are confirming the price action. The industrial metal down trend is signalling bad for the economy and the emerging markets overheating.

1 comment:

  1. Nice charts..

    I think crude, gold market is bull for long term. well thanks for sharing!