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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 694.04

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Jan 29 4:00 PM EST

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To: Johnny Canuck who wrote (59406)	7/8/2024 3:06:08 AM
From: Johnny Canuck	1 Recommendation Read Replies (1) of 70244

Commodity Update Natural gas breaking current intermediate ujptrend and approaching the long term moving average at the 150 day MA which is sideways. Copper has recently broken an intermediate downtrend and is looking to rally again. This day would suggest a divergence with the housing market data. Timber has generated a long term sell signal. This is not good for the housing market. Platinum is a stair step up trend in the intermediate term. If it can break the recent high it will move higher. It is still too early to tell. Right now the short term trend is up but it can stall easily. Energy broke the intermediate downtrend recently but last week's action suggests that rally may be stalling. Gold still in a sideways consolidation zone near the 52 week high. A breakout of the recent high means higher highs. A failure sets up a potential significant re-tracement. 10 percent correction is easily possible. Silver finally playing catchup on gold and in similar trends. It need to set a new high soon.

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