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

ACTION

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

ACTION

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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