Gann analysis is a good method that helps see both time and price probabilities in markets. Andy Askey has continued his great Gann analysis at his Price Time Volume Investing — Stock Market Cycles, Gann Angles and Squares site - http://ptv-investing.com/blog/ (always included in the list at right). It's been too long since I looked in on what Andy's seeing and saying so let's see. His recent posts include equities, gold, and oil and natural gas. Check out his site for a full look including his chart and comments about $1200 gold - along the lines of, $1200 not being a guarantee but an area to take profits. My own long-term Fibonacci work suggests $1192 as both a projection and likely TMAR (take money and run) area, so that works for me. And similarly, his work suggests that equities may yet have a bit higher to run, but are running into resistance warranting caution. As for natural gas and oil - I'll include below a view of his natural gas chart (price bumping up toward resistance), and a brief quote and view of his oil chart (below):
West Texas crude oil remains at the 25% price level which has been resistance since June. A break above this line would allow a move back to the lower side of the 1×1 parallel angle which started at price 35.13.
So check it out. Gann angles often are similar to trendlines that I and others draw on charts, but typically conform to strict mathematical degrees and ratios, lending them more predictive power on their own. Couple that with Fibonacci analysis, and it's another great source of insight about the probabilities for markets at certain times and prices.
Posts
No comments:
Post a Comment