Fortescue Metals Group, FMG, has made good progress since my last update back in February. It was $6.41 when I last posted but reached as high as $9.55. This lengthy rally might be due a pause though, and, so too might the lengthy rally with Iron Ore.
I was introduced to another US market metric yesterday, the State Coincident Index, and am sharing this information with you in this post.
One of the main take-aways from Dow Theory is that trends do not travel in straight lines unabated. With Gold popping its head above $1,400 I’m wondering, should the metal hold this level into the month end, whether this could underpin some mean-reversion activity with other commodities? Numerous commodities and commodity ETF are well down […]
The recent move with Gold has me back looking at Silver and, whilst it hasn’t done too much just yet, there has been a break of a monthly/weekly bear trend line and there is some bullish momentum evident on the daily chart. Price action remains below the $16 S/R level and the weekly 200 EMA […]
Gold is up testing a bear trend line that has been in force for the last 8 years and it finally has some momentum on its side for this attempted bullish breakout. Traders need to monitor where the weekly candle closes as any bullish breakout might trigger some mean-reversion on the precious metal and a […]