Gold Prices Break Support
Plenty of action in the Gold markets. Just a quick update.
Prices have now broken below both of the trading ranges it has been working in these last weeks.
All bets are off now, and prices can drop. I expect prices to hold above $1080 until the end of this week’s trading.
Anything lower this week and we’ll be free-falling.
Prices could then fall to the $990 area where there is some stronger weekly buying support expected - George
Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.
The Money Tigers Group © 2011
Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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Spot Gold Morning Update
Happy Wednesday!
Gold prices had a brief excursion above our Money Tiger tracking line during the early morning hours as we suspected they would (see our previous posting), but, slid back into their support area between USD $1100-$1125 and, are weak at present again.
Click chart to enlarge for clarity
In the process of their overnight price excursion gold has left me with an impression of ongoing selling by the money tigers of the world.
Unless we see prices rising above USD $1150/oz. and staying above that price for over 10 hours, I’ll be reluctant to believe the big money is back in the Buying mode in the Gold market.
We’ll check back a little later to see how gold markets are behaving and looking for clues as to the next act in this global play. - George
Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.
The Money Tigers Group © 2011
Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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Evening Update on Today’s Gold Prices
This was an exciting day in the Gold markets, no doubt about it!
Of course, with all the recent hype in the media (expounding Gold’s great value in these crazy economic times) helped a lot of late-comers to the gold markets to get in late in this cycle. They took a hit in today’s continued drop in the price of gold.
If that describes you, don’t despair. This market is well-known for taking roller-coaster drops in price while still holding to the overall rising price trend.
Click on the chart to enlarge for clarity
We are currently seeing prices approach our ‘Money Tigers’ line (the white arrowed down trending line on the chart).
There will be Selling taking place all along here in an attempt to keep Gold prices below this line.
But, now that we’ve hit some support (as we predicted in our Dec. 5th post) at the USD $1125/oz. price area ($1100-$1125 is our gold price support zone), we won’t be surprised to see prices go right through the line to the upside again.
It may not happen on this next upswing, but, this price line will be tested as it slopes downward. It may be on the overnight.
Gold, which was a good buy over $150 higher, is an even better buy here and there are Nations and Institutions who need to buy more of it to insulate themselves from the next phase of the money madness brought about by the banks and FED.
All the best – George
P.S.:
A reminder: These posts are for educational purposes only concerning my own private methods of analysis and are not recommendations or advice to buy or sell or to really do anything except to observe, along with me the rhythm of the big money tiger traders and institutions working at what they do best – swinging and manipulating market prices.
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Legal Disclaimer: The content on this site and articles are provided as general information only and should not be taken as investment advice. All information on this site is given for educational purposes only.
The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.
NO MATERIAL HERE CONSTITUTES “INVESTMENT ADVICE” NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, FOREX, BONDS OR FUTURES.
The Money Tigers Group © 2011
Tags: WD Gann, stock market prediction, gold traders
The Excalibur Method, gold price predictions, timing the markets, money tigers, trading education, gold price charts, e mini trading, technical analysis
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