Crude Oil – A Double Top to Go South?

(Click on image for larger view) Hello, This is my first commentary on Crude Oil as I will start to diversify my portfolio. Just to note, I will be using the same technical tools and nothing more than that. Hope you’ll enjoy and please do feedback/contribute to my commentary by writing in the comment box…

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FTSE Broke-out of Consolidation Range

(Click on image for Larger View) FTSE dived into consolidation mode on the 16th May 2012 and has since formed a clear price range. On 1st June, Price made a false breakout (circled) down south and started shooting upwards. The 4 hour chart above shows strong momentum upwards and price has broken above the 5410 Resistance level…

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FTSE Does it Again: Respecting Support and Resistance Levels

(Click on Image for Larger view) This morning, out of total randomness, I thought I had a look at the FTSE on a 2 min chart. The chart above was what I found, it was respecting Support and Resistance (S/R) levels like a textbook chart, bouncing and breaking various levels as it should and making…

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When Expensive becomes Cheap: Resistance Turn Support

Related article: Understanding Support and Resistance (S/R). Prices breaks above Resistance level In the past 12 months, the retail price of apples has been ranging between £0.50 (Support) and £0.75 (Resistance) in a specific market. One day, there were rumours about a local government initiative to increase the price of fruit fertilisers. This would have a direct…

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FTSE Bounces Between Support and Resistance

(Click on image for Larger View)   This is another example of how price interacts with Support and Resistance levels. If you’ve not read my earlier article on this subject, please feel free to have a read here. This is the FTSE 100 on a 5 min chart on the 2nd of May 2012. Price was…

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A Breakout of the Triangle? Where is the Dollar going next?

(Click on image for Larger View) The dollar index has now broken below a trenline (and triangle) and then a re-test of the trenline. It looks like it has move out of a consolidation phase and it’s potentially ready to move again. My current bias is bearish but I do need to see a convincing…

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Understanding Support and Resistance: All about Apples and Oranges

Related article: When Expensive becomes Cheap: Resistance Turn Support You’re a huge apple fan and you’ve been buying apples from a specific fruit stall for the past 12 months. During the peak apple season, apples are in abundance and they cost in the region of £0.50 each. In the off peak season, when apples are harder…

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