The shoulder seems to be forming into a more pronounced shoulder...

The shoulder seems to be forming into a more pronounced shoulder with several buy signals kicking in since Friday morning when I made quick post here at the bottom.

The Chinese market will be back open after their Golden Week holidays last week. IMHO, I think we could see more positive action from them, coupled with a continued bearish US$ resulting in more positive action for the Materials sector and companies like AGO.

We might not go up in a straight line but $1.60 and $1.80 shortly and even $2.00 by Christmas could be done in m eyes.

For other good reading see these guys on the XJO thread:

Paddington Bear

Redbacka


My more detailed tidbits are within the charts below.

Shonan Trader


AGO Daily





AGO Other Daily





AGO Weekly





China Weekly – Note my error with the word ‘Monthly’ instead of 'Weekly' in the comments.





China Monthly





US$ Monthly





PS. For the newer HC members of our community, FYI below:

Bullish for Stocks/Commodities

• Falling US$
• Rising EURO vs. US$
• Rising Commodity Channel Index (CCI)
• Falling VIX
• XSO (Australian Small Ords Index – Often ahead of the trend)

Other Useful Links to help with some T/A Jargon:

Stochastic Oscillator (A.K.A. Stochastics. Stochs)
MACD
MACD and Stochastic Crossover
New York Advance/Decline Line
Commodity Channel Index (CCI)