By combining these signal alerts with qualified Inflection Pivots we can quantify our risk and capture opportunity.
Today we have a NEGATIVE technical signal in GOLD. This has us accepting sell signals off qualified Inflection Pivots in the AUG’09 Contract. This is an alert to accept sell signals not to blindly sell.
As subscribers to JS Services Price Map you have access to the complete inflection pivot overlay. In this commentary I will highlight a few key points to consider, 948 and 962.
948 is the Inflection Pivot for the session. If the negative signal is going to stay aggressive any positive reaction will reject here. A held violation of the 948 level does not negate the negative signal but does set up a rally to sell up to the 967-962 resistance band. Both 948 and 962 represent the best risk reward qualified entry points for today’s negative GOLD signal.
The current minimum support target levels for any downside follow through for the negative signal is 929.6 and 915.2. These price targets should be your expectation today for any sales and your risk adjusted as such. If the MKT has yet to attained a target the better the sell opportunity is.
This may be all the opportunity we get to the downside and today’s negative signal may just be a head fake before the positive momentum resumes course. The GOLD MKT is at a turning point however and today’s signal does have the potential to be the straw that turns sentiment negative targeting 850. Whichever way the drama unfolds the Inflection Pivots will script the story.
In Summary
The technical signal tells us that the GOLD MKT is in play. Qualified price inflection pivots provide entry areas where our risk can be defined. Support and resistance targets allow you to “see” what the opportunity is so as “live” MKT dynamics shift you can capitalize on them with the bigger picture in mind.
Will the MKT give us an opportunity off our Inflection Pivot? That remains to be seen, but if the opportunity presents itself it is a place where your risk can be defined by a couple dollars for the potential to make $20-$40 if not a $100.
Please contact me directly with any questions, info@jsservices.com or visit http://www.jsservices.com/ for a complimentary trial of our Price Map overlay.
JS
Today we have a NEGATIVE technical signal in GOLD. This has us accepting sell signals off qualified Inflection Pivots in the AUG’09 Contract. This is an alert to accept sell signals not to blindly sell.
As subscribers to JS Services Price Map you have access to the complete inflection pivot overlay. In this commentary I will highlight a few key points to consider, 948 and 962.
948 is the Inflection Pivot for the session. If the negative signal is going to stay aggressive any positive reaction will reject here. A held violation of the 948 level does not negate the negative signal but does set up a rally to sell up to the 967-962 resistance band. Both 948 and 962 represent the best risk reward qualified entry points for today’s negative GOLD signal.
The current minimum support target levels for any downside follow through for the negative signal is 929.6 and 915.2. These price targets should be your expectation today for any sales and your risk adjusted as such. If the MKT has yet to attained a target the better the sell opportunity is.
This may be all the opportunity we get to the downside and today’s negative signal may just be a head fake before the positive momentum resumes course. The GOLD MKT is at a turning point however and today’s signal does have the potential to be the straw that turns sentiment negative targeting 850. Whichever way the drama unfolds the Inflection Pivots will script the story.
In Summary
The technical signal tells us that the GOLD MKT is in play. Qualified price inflection pivots provide entry areas where our risk can be defined. Support and resistance targets allow you to “see” what the opportunity is so as “live” MKT dynamics shift you can capitalize on them with the bigger picture in mind.
Will the MKT give us an opportunity off our Inflection Pivot? That remains to be seen, but if the opportunity presents itself it is a place where your risk can be defined by a couple dollars for the potential to make $20-$40 if not a $100.
Please contact me directly with any questions, info@jsservices.com or visit http://www.jsservices.com/ for a complimentary trial of our Price Map overlay.
JS
