Thanks for visiting my blog and appreciate my work
Have a profitable day,
Swin
Friday, March 31, 2006
Light Sweet Crude June 06 Contract
Light Sweet Crude June future contract showed another nice swing trading setup on 28 Mar 06 after closed above 66.15. Current stop loss is set at 65.15.
Consolidation seems to be finally over. Gold starts to swing up. After breaking short term downtrend line and close above 561.2, it has provided a good setup for swing trade. Short EMAs group start ticking up and moving away from long term EMA groups. This shows trend continuation. Stop loss is currently set at 557.
Gold seems to start swing up again, however, I would wait till trend line is broken to confirm resumption of bull run. Underlying uptrend is still holding strong, despite the short term weakness.
It is interesting to watch near term development of green back as well.