Thursday, April 3, 2014

GTX Commodities Weekly Chart Sideways Symmetrical Triangle

Keystone's algo, Keybot the Quant, identifies the key market areas that are most greatly influencing equity direction in real-time. Commodities are having the greatest impact on the broad indexes currently. GTX 4879 is the bull-bear line in the sand moving forward for the days ahead. Price is two bucks higher at 4881 so this creates market bullishness. If GTX stays above 4879, markets will float higher. If GTX drops under 4879, a lid will be placed in the market upside.

The blue sideways triangle is in play. Note the thinner upper trend line that price did punch up through and is now back kissing. Price remains in side the thicker blue lines. The moving averages are lining out sideways at 4820-4860 which obviously creates a key demarcation line. Keybot's key level is 4880 so lumping this together into a confluence identifies 4820-4880 as a key line in the sand. Equity markets will remains bullish and positive as long as GTX remains above 4880. The 4820-4880 zone is a battle area. Under 4820 confirms weaker equity markets moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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