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Bulls or Bears - Who Will Win?

Adam Hewison - MarketClub

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The Dow Is Balanced

Looking at the Dow Jones Industrial Average (INDEX:DJI), you have half of the stocks in a bull trend and the other half in a bear trend, giving a very mixed picture and somewhat neutral look to the Dow 30. The question is, which side is going to win out, the bulls or the bears? As with any market, I will be watching the Trade Triangles for an indication of this index's next move.

Gold Adjusting To New Levels

After rallying over $150 from the lows that were seen in late December, the gold market has gone into a sideways pattern as it begins to readjust to its new trading levels of $1,320 to $1,360. At the moment, it would look like short-term traders should be out of this market and that long-term traders could hold on to long gold positions. I'm still see the Gold (FOREX:XAUUSDO) moving higher longer-term.

The Dollar Looks Vulnerable

The Euro is trending higher and looks all set to move up and hit the 1.41-1.42 level. I think the Euro is in a strong bull trend and technically the charts support that argument. I expect that any pullbacks to the 1.3750-1.3800 level will be met by strong buying interest.

The Line In The Sand Is $100 For Crude Oil

Both long and intermediate-term trends are positive on Crude Oil (NYMEX:CL.J14.E) at the moment. Short-term traders should be out of this market. The line in the sand for crude oil is the $100 mark and should crude move below that area it would indicate further weakness and additional selling pressure. A move below $100 a barrel for crude would also turn the intermediate-term indicator to the downside. This is an area to watch based on the April contract.

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