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Anna Coulling
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I am a self taught trader with over 16 years experience. During that time I have traded in every market and virtually every instrument, and now concentrate exclusively on trading currencies and commodities. My trading approach is primarily technical using volume price analysis as the leading... More
My company:
Quantum Trading
My blog:
Anna Coulling
My book:
A Complete Guide To Volume Price Analysis
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  • Some Good News For Gold Bugs At Last

    (click to enlarge)Last week was a positive one for both gold traders and investors, in spite of the longer term outlook for the precious metal still looking bearish. Nevertheless gold bugs will have been cheered by four straight days of gains, which saw gold move firmly through the resistance at $1210 per ounce to close the week at $1225.30 per ounce, and testing the next key level of resistance on the daily chart. Last week's price action was also fully supported with good volume, with Wednesday's wide spread up candle confirming the intra day bullish sentiment, with Thursday and Friday's price action then following through albeit on falling volume, but in line with the price action. Indeed Friday's wick to the bottom of the candle hinted at further upside momentum, and on Globex overnight, and into the early session, gold has continued to ease higher and peek over the resistance at $1225 per ounce. Should the precious metal hold above this level, then we can expect to see further gains for gold in the short term, and perhaps even a test of the next level at $1238 per ounce from an intraday perspective.

    (click to enlarge)Moving to the weekly chart, this confirms the longer term picture, with last week's positive sentiment closing as a wide spread up candle with the platform of support in the $1180 per ounce region holding firm and providing the springboard for the move higher.

    (click to enlarge)Finally, the monthly chart completes the picture and confirms the congestion phase that continues to build in this time frame. Once again, the platform of support in the $1150 per ounce area has held firm, and with the equally well developed ceiling of resistance overhead in the $1350 per ounce region looming large, until one of these is breached we can expect gold to continue to consolidate between these price levels. Only a move beyond one of these levels will then signal the end of congestion, and signal the start of the next trend for the metal. From a fundamental perspective much of the positive sentiment for gold last week came from increased buying from German investors following rotation out of the bond market and into other asset classes with gold one of the primary beneficiaries. In addition, the recent weakness in the US dollar has helped to push commodities higher. However, with the continuing weak economic outlook in the US, and even deflation back on the horizon, the longer term prospect for any inflation remains uncertain. In such a scenario, gold is unlikely to see any major inflows, and certainly not until interest rates begin to rise on the prospect of economic recovery. By Anna Coulling Charts are from NinjaTrader and the trading indicators from Quantum Trading.

    You can follow more of my market forecasts on my personal site at http://www.annacoulling.com

    Grab a copy of my latest books on Amazon:

    A complete guide to volume price analysis

    www.amazon.com/gp/product/B00DGA8LZC/ref

    A three dimensional approach to forex trading

    www.amazon.com/Three-Dimensional-Approach-Trading-ebook/dp/B00CX2QCVO/ref

    (click to enlarge) GRAB your copy NOW!

    (click to enlarge) Grab your own copy now

    Tags: GLD
    May 18 7:40 AM | Link | Comment!
  • Oil Remains Bullish

    (click to enlarge) WTI oil - dialy chart[/caption] It was another positive day for crude oil which continued its recent bullish momentum, moving firmly through the $60 per barrel price point to close at $60.40 per barrel on the daily oil chart. This positive sentiment for oil has continued on Globex overnight and into the morning session with the oil prices trading higher again at $61.87 per barrel at the time of writing. Yesterday's move higher was accompanied with solid volume and confirming the price action which closed with a wide spread up candle, and holding the platform of support which is now firmly in place below at $58.50, and which has provided the springboard for the move higher. Whilst the technical picture remains bullish, the fundamentals too are now helping to take oil prices higher, with weakness in the US dollar, a slowdown in output from Libya coupled with news that Saudi Arabia has increased its official selling price. These factors are all providing additional momentum.

    Today sees the release of the latest oil inventory stats from the Texas Cushing hub, with the forecast for another build, albeit modest by recent standards. Last week saw the downwards trend in oversupply continue, and should we see this again later today, then oil is likely to move higher building in the double bottom now in place on the weekly chart. By Anna Coulling Charts are from NinjaTrader and the trading indicators from Quantum Trading.

    You can follow more of my market forecasts on my personal site at http://www.annacoulling.com

    Grab a copy of my latest books on Amazon:

    A complete guide to volume price analysis

    www.amazon.com/gp/product/B00DGA8LZC/ref

    A three dimensional approach to forex trading

    www.amazon.com/Three-Dimensional-Approach-Trading-ebook/dp/B00CX2QCVO/ref

    (click to enlarge) GRAB your copy NOW!

    (click to enlarge) Grab your own copy now

    May 09 4:25 AM | Link | Comment!
  • Gold Consolidates But Remains Bearish

    (click to enlarge) Gold - daily chart[/caption] The extended consolidation phase for gold has continued once again this week with no end in sight just yet, and with bond markets now in turmoil many of the traditional relationships are breaking down or have already decoupled. In answer to one of the questions from the floor yesterday Yellen said.. "I guess I would highlight that equity valuations at this point generally are quite high. They're not so high when you compare the returns on equities to the returns on safe assets like bonds, which are also very low but there are potential dangers there." These comments added further uncertainty to an already confused situation, with bond yields rising sharply and the US dollar continuing to remain under pressure, and gold now falling along with equity markets in early trading. As traders we sometimes forget there is in fact one market that has the power to overwhelm and terrify just about anyone in the financial markets, and a famous quote by James Carville (a member of Clinton's administration) says it all. "I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody." So the recent move higher in yields in both the 10 year German Bund and Treasury is something we need to pay close attention to. However, these moves have had many commentators scratching their heads, as any rotation out of bonds (safe haven) can herald an early move into risky assets (such as equities and/or commodities). Moves in yields can also be an early indicator of shifts in central bank monetary policy, interest rates and inflation, and by definition are therefore one of the key drivers of exchange rates. The current situation is very early doors, but to take one example - the yield on the 10yr Aussie has moved above 3% since December last year and can be said to be a significant factor in supporting the Aussie dollar. This despite RBA's Glen Stevens saying the Aussie is overvalued against the USD. But when the bond market speaks, even central bank governors have little or no control over what may happen. Ultimately, all markets are about money flow & the forex market is the conduit through which it all flows, which is why it is so sensitive to any unusual or unexpected change in sentiment. Now the big question is where is the bond money going? Apart from being stuffed under virtual mattresses - there is nothing to suggest it is moving into equities, or indeed any other asset at present and certainly not gold. From a technical perspective the key level on continues to be the $1172 per ounce platform of support which remains firm on the daily chart, and denoted with the blue dotted line. Overhead, the resistance region at $1215 per ounce defines the ceiling of the current congestion phase, and with the weak move higher earlier in the week on low volume now apparently over, and with this morning's price action breaking through the $1190 per ounce area once again, a test of the $1172 per ounce region now seems likely. Any move through this region will then open the trap door to a sustained and longer term move lower for gold. By Anna Coulling Charts are from NinjaTrader and the trading indicators from Quantum Trading.

    You can follow more of my market forecasts on my personal site at http://www.annacoulling.com

    Grab a copy of my latest books on Amazon:

    A complete guide to volume price analysis

    www.amazon.com/gp/product/B00DGA8LZC/ref

    A three dimensional approach to forex trading

    www.amazon.com/Three-Dimensional-Approach-Trading-ebook/dp/B00CX2QCVO/ref

    (click to enlarge) GRAB your copy NOW!

    (click to enlarge) Grab your own copy now

    May 09 4:23 AM | Link | Comment!
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