Market Direction: Sterling/Dollar 200 Day Line Block Randgold Resources (RRS): Price Channel Rebound It has certainly been quite a journey for shares of Randgold Resources during the year to date. This is over and above the usual health and wealth warnings that would accompany mining stocks. As for the near-term action here, it can be…
Market Direction: Gold Initial Bear Trap from Below March $1,208 Floor Marks & Spencer (MKS): Key 380p Support Zone It will be worth seeing what we have on the fundamental front to turn around this high profile retailer, as it looks like it would have to be something special. What can be seen on the…
The biggest change in the world is not the distribution of wealth (and don’t forget to those outside the First World we are all the 1%), but the distribution of leisure time and ‘unearned’ income. Governments and institutions are slow to recognise the need for change. Most people are not visionaries, and in politically stable…
Market Direction: Nasdaq 100 Above 50 Day Line Targets 4,800 Barclays (BARC): Converging Triangle Breakout Barclays has been a surprisingly, but nevertheless satisfying recovery situation over recent weeks. This is said despite the way that this particular commentator has an irrational aversion to banks, especially their “service” charges. I also have a problem in terms…
The pen is mightier than the sword is something that people used to say all the time. So why don’t they say it now, you might ask? Well there is a simple reason: it was banned from the internet. When filters based on algorithms were introduced to find and eliminate expletives, and words that people…
Market Direction: Crude Oil above 20 Day Line Could Lead to $60 Antofagasta (ANTO): November Price Channel Target The sage of leading mining stocks, and whether they have finally turned the corner for good, continues to inspire traders. The reason for suggesting this is the way that there was a one third retracement for the…
Market Direction: Gold Loss of $1,240 Risks towards $1,160 Anglo American (AAL): 570p Support Zone In many ways Anglo American shares have over the past six months and more demonstrated how a classic positive reversal works from a charting perspective. This is because the big turnaround was kicked off by a December–February inverted head &…
Market Direction: Euro/Dollar Initial 200 Day Line Support Admiral Group (ADM): October 2,200p Technical Target What we can say in terms of the recent trajectory of the price action of the daily chart of Admiral Group is the way that this is a situation which is perhaps as robust as the bulls might have wished…
As seen in the lastest issue of Master Investor Magazine “Sell in May and go away, do not return until St. Leger’s Day.” There’s generally a perception that there was lots of wisdom in times gone by, but the reality is there wasn’t. Mostly it was statistically unsound superstition with the very occasional gem thrown…
Market Direction: Cable above 50 Day Line Targets May Peak BP (BP.): Above 370p Targets 420p Considering how volatile the stock market has been in recent weeks, as well as the price of Crude Oil, it is interesting how the share price of BP remains a relatively flat affair. This can be seen on the…
