Tag Archives: GLD

Gold Struggles to Stay Above Support at $1700

Posted on December 5, 2012 by Michael Harris

Gold prices started dropping last week showing disrespect for the opinion of bullish analysts and their crystal balls. Despite repeated calls by some technical analysts and fund managers of a pending rally in gold, this market has been weak and appears … Continue reading →

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What Can Technical Analysis Tell Us About the Future of Gold Prices?

Posted on August 30, 2012 by Michael Harris

Basically not that much for a medium to longer-term timeframe. This is because the price of gold in the future will depend on several factors some not directly reflected in current price action, simply because they are unknown. Of course, this is true with … Continue reading →

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Precious Metals Markets Losing Patience

Posted on July 22, 2012 by Michael Harris

Inflation was supposed to rise with QE1 but it did not. Then, it was supposed to skyrocket with QE2 but it did not. Operation Twist raised hopes of investors and traders with long positions in precious metals but inflation did not rise. In my opinion, even … Continue reading →

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Price Action Lab Alert for Monday, May 21, 2012

Posted on May 20, 2012 by Michael Harris

This alert is for one long and one short signal in two very popular ETFs with 1% profit-target and stop-loss.

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Gold and Silver Rebounded with Prospects of Further Gains

Posted on May 19, 2012 by Michael Harris

Before the open of last Thursday I wrote in this post that “Gold and silver are way oversold… some type of a rebound is expected from these levels.”  GLD and SLV rebounded during the last two trading sessions and gained 3.4% and 5.32%, respectively. … Continue reading →

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Gold and Silver Charts Indicate Extreme Oversold Conditions

Posted on May 17, 2012 by Michael Harris

Gold and silver are way oversold. The charts for GLD and SLV show levels of relative strength index not seen for years. Although markets can stay oversold for extended periods of time, some type of a rebound is expected from these levels.

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How to Make Best Use of the Price Action Lab Alerts

Posted on April 19, 2012 by Michael Harris

I briefly illustrate the general context for evaluating the alerts that are based on the patterns Price Action Lab generates in scan and p-indicator mode. As an example, today’s alerts for DIA and GLD are considered and evaluated.

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Signs that the Stock Market Correction May be Over for Now

Posted on April 11, 2012 by Michael Harris

The signs that the correction may be over for now include the fact that the dollar did not rally and that precious metals did not correct along with the market. In addition, there are technical signs that suggest a rebound at this … Continue reading →

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Price Action Lab Alert for Tuesday, April 10, 2012

Posted on April 10, 2012 by Michael Harris

This alert is about long and short signals in major ETFs that confirm the long-standing market correlations between indices, metals and bonds.

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Gold May Soon Test Resistance Near $1,800 An Ounce

Posted on April 3, 2012 by Michael Harris

There are signs of renewed gold buying both by hedge funds  for portfolio reallocation but also an increasing retail interest for gold bullion. As a result, the $1,600 an ounce price support level established after last year’s correction has held and there are a couple of … Continue reading →

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