Wednesday, August 10, 2011
Market trend analysis for 10th of August 2011
Hi, everyone. Certain financial markets are going crazy, especially stocks. I believe this will continue and I would not be in the stocks now. Well, I could be, but just selling them. Even though commodities are falling too, my position towards them has not changed. They are the best place for me to be in. They represent something more tangible and stable than stocks or worthless governmental bonds. I do not think that it is too late to buy gold and silver or even oil. These real things will rise a lot more and I am in silver myself. You do as you see, but be careful with stocks and bonds. One may never know when these will go bankrupt.
Looking at currencies I also am for commodity currencies and maybe slightly bullish about dollar against euro, pound and a few other currencies. Looking technically at gbp/usd I see good opportunities to sell the pair when it rallies. Important support levels have been broken and when and if the pair comes back to previous support levels which are now resistance, that would be a good sign to sell it. Look at the chart below to see better what I mean.
Good luck in your trend trading analysis.
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Trading financial markets carries a high level of risk, and may not be suitable for all investors. All information on the blog is of educational nature and cannot be considered as advice, recommendation or signals to trade in any financial markets.