The slippery side of GOLD

The gold price in US dollars is making a great looking trend. At the moment the price is moving sideways in no man's land between trend line support (at around $1450) and overhead resistance (at $1550....the all time high is $1573, but $1550 has been hit several times and rejected by the market).

This is not good news for our major gold stocks. Holders of NCM better know what they are going to do when support at $36 breaks down. See chart below. The black circled areas show where support / resistance was found at $36 in the recent past.

Don't forget to look for us on the web - http://www.thetechnicalreport.com/ or http://www.stpt.com.au/

Ebook - updated edition

The book, Simple Tactics, Profitable Trading, second edition will be out soon. If you would like to be notified of its availability, simply email us support@stpt.com.au with the word EBOOK in the title and we will notifiy you of its availability. If you notify us of your interest, the book will be available to you for only $15.00. It will sell for double that via our website.

If you would like to read a free chapter from our first edition, click here - it is Chapter Two.

From The Technical Report, we will be watching these two stocks (shown below) and applying our DEMAC technique to them. If you would like to know the names of these stocks sign up for a 12 month subscription to The Technical Report OR if you would like to learn our DEMAC technqiue, buy our CD presentation of it here.

We are short BSL

An example of our trading style is our current Short position in Bluescope Steel (BSL). The stock has been sideways for an exceptionally long time and has recently broken down through support. Using traditional technical analysis techniques, it gives us a downside target of 50 cents.

To learn more check out The Technical Report

The Technical Report

Welcome to The Technical Report blog. It accompanies The Technical Report weekly newsletter (to read more about it, click here or to download the trial copy in PDF, click here)

The Technical Report is produced by STPT Coaching, which is a technical analysis research company and a trading psychology consultancy. We trade the Australian stock exchange but many of the technical techniques we privately develop are applicable to both FOREX and International markets.

If you would like to see us implement traditional technical analysis OR to see us implement our privately developed trading techniques in real time markets, stay tuned to this blog and sign up for The Technical Report newsletter.