Jesse’s Cafe’ Americain Gold is attempting to make a bottom here, looking to consolidate in the 1100 – 1120 area. The selling was a series of bear raids determined to shake out the new buyers and weak hands from a very short term overbought condition. The bulls were asking for it, leading with their chins [...]
Zero Hedge The melt up in stocks on no volume was fully expected after the worst possible employment news to come in over 20 years: the market-economy disconnect is now complete, and all stocks are freeriding purely on Bernanke’s printing press. At least gold vigilantes are beginning to whisper in Bernanke’s ear he can go [...]
October Gold closed lower due to profit taking on Friday as it consolidates some of this week’s rally but remains above last February’s high crossing at 1008.70. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought, diverging but are neutral to bullish signaling that [...]
Precious metals like gold and silver appear to be forming a bullish pennant formation, which generally leads to higher prices. Currently the US dollar is hovering around a support level, which is the 76- 79 range. Only time will tell if the US$ breaks down sending gold to new highs in the coming months. Below [...]
As mentioned in the last couple reports we are currently waiting for a correction which will hopefully provides us with a low risk entry point. Since June we have been in a short term down trend, but the longer term trend is still up. Which is why we are looking for a buy signal and [...]
In our current 8-year bull market, June has seen the lowest return for gold and one of the best times to buy. Gold is one of the best forms of capital that can protect you in a financial Armageddon. That gold was up in 2008 is a reminder of its protective power. How much gold [...]
Courtesy of Chris Vermeulen www.GoldAndOilGuy.com The bullish percent index tells us the percentage of gold stocks which currently have a point and figure buy signal. Looking at the charts below it looks as though precious metals are trading at support. I am inclined to think we will get a bounce this week for gold and [...]
Courtesy of Clive Maund Gold broke down and went into decline, as predicted in the last update posted early this month. At that time our maximum downside target was the strong support in the $880 area, but now there are strong signs that the decline has either run its course, or is close to having [...]