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Candlestick Stock Traders are Buying
If you’re going to trade the markets using technical analysis, get acquainted with Japanese candlesticks. Simple bar charts don’t offer as much or as detailed information on price patterns. Nor do they have the history and experience of this centuries-old Japanese method.
Candlestick charting began in the 17th century and was used primarily as a tool to trade rice. Since then it has become the preferred method of chart analysis for most active traders and technical analysts the world over.
We’ll start with a simple pattern that has popped up on a wide array of charts in the last week – a…
15Sep2008 | Oxbury Research | Comments Off | ContinuedContrarian Takeaway: Prices in the “Out-Months,” the Candlesticks, and the Indicators Suggest a Screeching Halt to the Rise in Crude Oil Prices
Since March 17, Gold has declined nearly 13%. So much for the “inflation hedge” hypothesis. Whatever happened to the “inevitability of $2,000 Gold because the fundamentals require it?” Proponents are noticeably quiet these days. Is Crude Oil headed for $200 per barrel? Maybe so; but maybe not quite yet.
As in the case of Gold, there is no shortage of fundamental reasons why the price of Crude Oil must increase. What do those who are “on the inside,” doing the actual trading with real money, think about the future price of crude oil? Yesterday’s closing prices of the crude oil futures contracts…
11May2008 | William Kurtz | Comments Off | Continued
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