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 [...]
Gold posted an inside day with a slightly higher close on Friday as it extended this week’s narrow trading range. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends [...]
Courtesy of Gold Seek In my last article, posted on May 13th, I drew your attention to the HUI index. The article was titled: “All eyes are on Huey”. The article pointed out that the HUI index was breaking out at 350. As it turned out Huey rose to 400, an increase of 14%. At [...]
Gold posted a downside reversal and closed lower on Thursday ending a two-day short covering bounce off Monday’s low. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August [...]
Gold closed higher due to short covering on Wednesday as it consolidates some of Monday’s decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If August extends this week’s decline, the [...]
Gold was higher overnight due to short covering as it consolidates some of Monday’s decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If August extends this month’s decline, the reaction low crossing at 917.00 is the next downside target. Closes above the 20-day moving average crossing at [...]
The chart of the day from Clusterstock says it all. Despite its legion fans, growing concern about global stability and a widespread belief that the dollar is doomed, gold can’t seem to break $1,000 per oz. After briefly topping the level early last year, the yellow metal gets slapped down every time it gets close.
Jack Chan www.simplyprofits.org June 13, 2009 GLD – sell signal this week ending the buy signal from early May. SLV – same here. GDX – sell signal last week. XGD.TO – sell signal last week. Summary All four ETFs are now on sell signals, ending the buy signals from early May. Set ups on all [...]
Courtesy of Chris Vermeulen of GoldAndOilGuy Gold is currently pulling back from resistance and in my opinion forming the right shoulder which will complete this reverse head and shoulder pattern. Last week I took some profit on my gold position and currently hold a core position hoping prices will hold at my next support trend [...]