Turk
Active Member
Irondog said:^^
Yes, encouraging....QE by the central banks should drive prices up until there's more bad news somewhere. That bad news will come in the form of Germany withdrawing from EU or Israel attacking Iran. Just my 2 cents...
(Two cents is a lot more than a lot of opinions out there are worth today Irondog!)
Errol43 - some excellent solo steering last night! You have placed us in a good position at this key time - a Friday evening after two days of rises.
Nevertheless, I'm expecting a determined takedown to end the week on a low note (so get ready to buy Dusty and Irondog!)
But if we continue to see an unopposed rise tonight then we might touch USD $33 briefly tomorrow.
My concern now is that we really need to get a good recovery going or we might be facing a "death cross" chart signal (depicted above) where the 50dma drops below the 200dma. Some traders view this as a bearish signal especially when the 200dma continues to decline after the crossing.
See http://www.investopedia.com/terms/d/deathcross.asp#axzz1a4uS6SXh
So Errol43, if you see an 'X' tonight please don't think it marks the treasure - steer right away from it and try to keep us facing due North.
Polaris is our guide tonight.
SPOT : USD $ 31.97