Technical Talk: Daily update (Tuesday, June 14, 2011) – time to buy gold & silver?

 EmailPrint This Post Print This Post

Adam Hewison, charting strategist of INO.TV, brings you another edition of his invaluable service of daily technical updates on the ups and downs of various markets. This short analysis is a great tool for keeping one’s finger on the pulse and timing the markets.

Click the image below to hear his latest views on gold , silver, the US Dollar Index, the CRB Index, crude oil and the S&P 500 Index. Also, click here to have an instant analysis of any ticker symbol in your portfolio performed by INO.

Here is a summary of Adam’s latest views:

• SP 500: -60. This market remains in a broad trading range with resistance coming in 1,296, 1,305 and finally 1,315 which represents a 62% Fibonacci retracement. Major downside support is at 1,250.

• Silver:-60. Currently this market is oversold, however it is in a state of flux with no clear trend. Using the Donchian Channels and the fact that this market is oversold, I expect to see a bounce from current levels. Major support at $34.00.

• Gold: +55. Gold is currently oversold and we expect to see some further sideways action. The Donchian channel comes in at 1,503. Major support at $1,500.

• Crude Oil: -60. Trading range. Long-term indicator remains positive. Support coming in at $96/barrel. Market is currently oversold. Choppy market.

• US Dollar Index: -85. The longer-term and mid-term Trade Triangles remain in a negative position. Resistance now at 75.00 and 76.50. Minor support at 73.50; major support at 73.00.

• CRB Commodity Index: +55. Near-term resistance at 350. Minor support at 340; major support at 335. Trading range.

[iframe: width=”520″ height=”318″ src=”″ style=”border:0;outline:0″ frameborder=”0″ scrolling=”no”]

Get a free MarketClub analysis of your portfolio instantly – click here!

Source: INO.TV, June 14, 2011.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

OverSeas Radio Network

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>




Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones

One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

June 2011
« May Jul »

Feed the Bull