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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Metal Charts with Three Line Break View 0 comments
    May 24, 2011 5:56 PM | about stocks: SLV, GLD

    If there is a market you want to see a chart view with the three Line break, leave me a comment below and I’ll try and add to this post if I have time. I’m curious if any of you have dipped your toes in any of these markets? From my standpoint I wouldn’t consider any of them until we get a white candle on this view, unless it’s from a capitulation level, which I don’t think is the case so far.

    If you trade the gold market, don’t forget to try out the powersheet lite from Pivotfarm on the right underneath the banner. These confluence zones will help you determine support/resistance levels.

    SLV:

    • Parabolic chart that will need some time to consolidate. I think this is going to the $26-28 range and that may be an area to dip your toes in.


    GLD:

    • Has held up well, but will most likely be dragged down with all the metals, especially if the market begins to trend lower.



    COPPER:

    • Completed a head and shoulder pattern. I’ve been talking about how this metal is heading lower for awhile now. Watch the throwback to the neckline (around $410) and see how it behaves. If it fails $360 is the next stop.


    Platinum:

    • $1850 has been strong resistance. I see no reliable chart pattern here.

     

    Stocks: SLV, GLD
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