Tag Archives: gold

Gold Faces Strong Resistance at the 200-Day Moving Average

Earlier today gold attempted to break above its 200-day moving average at $1,296.5 but met strong resistance. If weakness persists the next support level is near $1,272 followed by the December lows of last year near $1,182. Share

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Golden Cross in GLD but With Price Closing Below Both Averages

A 50-200 golden cross occurred yesterday in GLD but price closed below both moving averages. In this blog post I discuss what this could mean for the future course of GLD. Share

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Rough Times For Chartists

The current rally in gold is another blow to chartists and their market timing techniques and to all those who, based on some dubious chart formation, called for a collapse of the precious metal late last year. I issued a … Continue reading

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Gold Short Squeeze in Progress

Last Tuesday I wrote that “… it appears that some reaction to the upside should take place soon“. The market started recovering same day and after a +1.8% rise in GLD yesterday the gain now amounts to +3.6%. The false down break of … Continue reading

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Late Gold Bears May Get Crashed

Last Friday I warned about the possibility of a double bottom in GLD and that traders should not listen to either catastrophic or euphoric calls about gold or any other market because most of those who issue them are in the … Continue reading

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Massive Gap Closure in Gold But Upside May Be Limited

A massive move has taken place in gold in the last few days from its low after the recent plunge to close the gap left open on Monday two weeks ago. Any upside appears to be limited at this point by … Continue reading

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When to Ignore Extreme Oversold Conditions

Gold has plunged to extreme oversold territory but unless one is very sophisticated with timing entries and exits and managing position risk, these technical reversal signals should be ignored. Extreme oversold, and also overbought, conditions can be quite misleading as market participants … Continue reading

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Gold False Breakout to the Downside

Spot gold has gained more than $45 after testing longer-term resistance near $1,540 last week. Some technical analysts have recently focused on some, in my view, random pattern formations on the gold chart and have pointed to an imminent collapse. Recent … Continue reading

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