Click to Enlarge
The strong action in gold and crude oil has improved the short-term technical outlook. Gold’s correction tested first good Fibonacci support, and the longer-term analysis still favors a resumption of the uptrend. Volume has been strong recently, indicating accumulation with key resistance at 1140. Crude has closed above short-term resistance with trading range resistance in the 86-87 area. The good volume on the breakout is positive.
Subscribe to MoneyShow’s daily investment newsletter Top Pros' Top Picks and get actionable advice from our top experts, including the hottest stocks to buy and sell, ETFs and funds for short- and long-term capital appreciation, and a wide variety of dividend-paying stocks set to deliver a steady stream of safe, reliable income.
Get an edge on the markets with our weekly trading newsletter, Trading Insights, and receive timely trade ideas covering stocks, options, futures, and more to keep you on the right side of the action. From trading basics to advanced strategies and high-probability set-ups, the insights you need from our all-star lineup of trading pros is delivered straight to your inbox.
The stock market offers virtually any combination of long-term opportunities for growth and income, as well as short-term investments for trading gains. MoneyShow’s weekly Virtual Learning Letter showcases a variety of on-demand webcasts and video market commentary by top financial experts covering the hottest financial topics each week.
