Courtesy of Highchartpatterns
We went through a lot of charts tonight and saw a nice pattern in the commodity charts. We’re not quite there yet but we have very nice support coming up in all the following charts:
Note how the 200 SMA/ base are coming together. All it would take is 1-2 days more sell-off and we’ll hit these spots. Until then it’s a bit of no-man’s land and we’re staying away. Horizontal line represents buy spot.
Gold started this — watch for them to be the first to bottom.
Drillers, Ag-Chems, Steel, Coal, and Natural Gas producers
A Great Newsletter for Active Traders
We at The Market Guardian are pleased to announce our partnership with High Chart Patterns. High Chart Patterns is a newsletter service geared towards the active short-term trader. Five nights a week, they send out picks for the next day and a list of stocks that are leading the market. Their strategy is two-tiered: first, High Chart Patterns.com seeks out clean, uncongested daily chart patterns that yield good risk/reward trades; second, they teach their readers what to look for in intraday charts: when to pull the trigger and when to let it pass.
