12/03 Wednesday market update

Posted on Posted in Weekly Featured Articles
12/03 Tuesday market update 

DOW/WALL ST:  Trend direction is still up but peak may be at hand 

Dow is till not able to create new high. SP hit the short term support 1866


Aggressive trader (1-5 days) : Can consider to short from here if rebound is weak and if 1867 is not holding well

Conservative trader (Major trade): Wait for more technical confirmation to short

GOLD SILVER: Gold is still Consolidating , unable to break 1350-1355. It could still pull back to lower level first before marching higher and break 1355 after this round of consolidation. Silver is weaker in trading range 20.65-2120. 

Aggressive trader (1-5 days) : Can consider to Long from 1328

Conservative trader (Major trade): Wait for 1304-7 to buy LONG

ASX: Following DOW now


Aggressive trader (1-5 days) : 1. Reshort FMG from 4.95-5.05 2. Hold ASX short 

Conservative trader (Major trade): 1. Short FMG from 515-520. 2. Wait to buy more gold stocks

NOTE: Major trade need WAITING ( major account) with wider stop loss. Aggressive ( small account) is for quick trading only

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