Support and Resistance Trading Forum

2010 Predictions
By:Erich
Date: 1/1/2010, 4:47 pm
In Response To: Re: trend changes (Erich)

Okay, here you have it, hot off the New Year's press...

Look for currencies to decline this year, especially the Aussie Dollar, British Pound and Canadian Dollar; however, the Yen should stay strong. The US Dollar should make a bit of a comeback but 8050 is a serious obstacle. If it can't get above there then all bets are off.

In the financials the only thing that grabs my attention is a short term bounce higher in the 30 Year Bond. By default this suggests that the index markets will decline.

Most of the grains look like they will track sideways this year, making little gains and little losses to keep prices rangebound. If we get a runner it's likely to be in Soybeans which could sprint higher. My next best guess to bolt would be Wheat.

Cocoa is trading off multi-year highs and will probably come down, but this is a "wacky" market so don't hold me to it. Coffee prices should continue to climb, but don't expect a huge run. Cotton will probably continue higher until the spring, but I wouldn't be long come Easter.

Gold and Silver continue to look top heavy, and if the current support fails then I think it's all done for this run. Copper too looks like it will head lower, building season coming or not.

There you have it, everything that's going to happen in the markets this year. Now you really have no excuse not to make a bundle of money. Just don't forget who told you. ;-)

Erich

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