- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
- This blog has a copy of all header posts that I publish anywhere, so that those interested in seeing what my thoughts are on the markets can find them easily.
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Wednesday, 14 April 2010

Rising Channels on ES, Gold and Oil

Just a quick post with three rising channels that I have been looking at over the last day that people may find useful.

The most tentative is the new rising channel on ES for this current subwave up. This is tentative until we see another peak as this may not be a channel at all, and could be something else such as a rising wedge. Still, ES has been channeling well, and this looks good on the basis of the information available at the moment.

The IHS, which I posted before the open at slope yesterday, had a target of 1207 which has already played out to target so that pattern won't take us to the upper channel trendline:

I also have a rising channel on gold, and the lower trendline looks solid. The upper trendline looks pretty good too but there is a chance that we could see a breakthrough to the parallel red trendline above. If there is a break up then that should be the target:

The last rising channel is on oil, and it looks solid. The next target is the upper channel trendline:

I'm still on vacation and will be missing most of the trading day on Thursday so I'll check in later on in the session. Good luck trading everyone!

By the way, Leisa asked me for a Haiku yesterday while chatting about the UK man recently convicted of being overly amorous towards a donkey and a horse and these were the result. Enjoy!


Limerick

There was an old man whose desire
Was a stable romance to acquire
But the donkey and horse
took legal recourse
So the neighs meant the outcome was dire.

Haiku

Horses and donkeys
can be patient to a fault
But neigh still means nay

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