Monthly Archives: April 2016

West Texas Intermediate will test major support at $35

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The spigots are wide open. The major trend is down, the intermediate trend is down and the near-term trend just turned down. WTI will test major support at $35. The near-term downtrend in the U.S. dollar should be a plus for WTI but right now traders are concentrating on supply news out of the Middle East.

WTI 3-Year Weekly chart

WTI 3-Year Weekly chart

Reference my post from March, 29, 2016 showing the major downtrend defined by the 200-day moving average.

Reference my post from March 15, 2016 for the support levels below 40.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Barrick Gold 3-year weekly chart

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The candlestick chart for Barrick Gold shows support at $17 which is near the 50-day moving average. A break below $17 would have some tentative support at $16. After that, it would be an elevator ride down to $12 near the 200-day moving average. I just published a chart for gold showing the $1200 support zone. A break for gold below $1200 would presage a break below $17 for Barrick Gold.

Barrick Gold 3-Year Chart showing major support.

Barrick Gold 3-Year Chart

Reference the latest chart for gold showing the 1200 support zone.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Gold 3-year chart showing the 1200 support zone

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Gold 3-Year Weekly Chart showing the 1200 support zone.

Gold 3-Year Weekly Chart

The 1200 zone was major resistance on February 9, 2016. You can reference the post. The reversal of roles is an important concept in technical analysis.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Dream Office REIT 3-year weekly chart

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A positive breakout from the lateral trading band would indicate an intermediate target price of $23.00. Dream Office REIT has a sustainable yield of $1.50 per share which is 7.26% at the current trading price.

A break above resistance of $21 indciates an intermediate target of $23

Dream Office REIT 3-Year Weekly Chart

Reference the last chart analysis for Dream Office REIT showing the positive reaction to the dividend cut.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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