Evening Update: Testing The Lows in Gold
The white circle on the chart left shows where selling overwhelmed buying in the gold market this evening.
Expect the gold lows of today to be tested shortly and probably taken out in the overnight markets.
The next chart in our series shows the longer-term strategy for the money tigers in my opinion and that line of support for gold prices has still not been taken out.
That is the trend over the last 6 months and is a stronger support level than any of the little ones we’ve been experiencing intraday this last week.
The 6 month trendline is still intact for Gold.
USD $1100/oz. is the number to be watching this week.
If gold prices breach that price support barrier, then, we’re looking at the USD $1000/oz. point as the next stopping point.
There’s no real news driving this market.
Just the usual rumors that are given the blame for this manipulative sell-offs by the big money interests.
That, of course, doesn’t mean that ‘smart money’ isn’t flowing into some other markets at the same time profits are being taken out of Gold.
Ah, yes. Nothing like storing your newly minted profits from the Gold run-up in a currency that’s rising in value or even in certain stock markets for that matter.
We’ll look at the currencies tomorrow to see what’s hot there.
Until then, good evening from here. – 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
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
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
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
Gold Prices Still Sliding
Good Morning all.
Wanted to send a quick update on the Gold Price slide we saw last week.
Gold Sell Points
Prices continued to slide downward a bit more this morning into the $1140 area.
The trend is stepping down in price.
I’m watching short-term for gold prices to have to rally above $1152/oz. before breaking this present downswing. I’ve included a 3-day 24-hour chart from Kitco to show the points I’m talking about in this post.
There have been two price points for Gold that would have fit our ‘Line Tamer’ approach to line charts since Dec. 4th. I’ve pointed them out in the chart.
Once again, watch the USD $1152/oz. price for Gold on the upside as an indication of resuming strength.
Any drop below USD $1132/oz I’d look at as further confirmation of weakness in Gold pricing.
All the best - 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
Post Footer automatically generated by Add Post Footer Plugin for wordpress.
