The current gold prices marked their highest in more than six years as the spread of the coronavirus globally prompted demand for haven assets.
Gold for February delivery GCG20, +0.06% on Comex increased $5.50, or nearly 0.4%, to settle at $1,577.80 an ounce, after hitting an intraday high at $1,588.40. It settled with a weekly gain of 0.7% on Friday. The...
1.28.20 Oil is an expensive market to trade. I wanted to talk about some of the issues that need to be taken into consideration. There is some talk about the DXY...spent a good deal of time on this in the video.
So we have an inverse head and shoulders ons gold (GC1!) 15min chart - positive
We have a descending triangle on the same chart, negative.
We have a semetric triangle on the same chart.
If inverse head & shoulders plays out, its real bullish for price of gold to continue to $1600.
Play-out of the other two formations might only be a short term correction.
I...
While equities have been putting in a series of bearish rising wedges, gold has two successful falling wedge breakouts on the daily chart and is looking good for a move above short-term resistance at $1,600. Price indicators are both showing a bullish trend and momentum behind price with a new advance likely coming this week. Main thing we want to see on any...
#Gold gap up above horizontal resistance, nice cup and handle formation. Well defined RR on an entry here, can set a tight stop just below the gap. $GC_F $GLD $GDX $GDXJ
After a nice multi year rounded bottom and breakout, gold has been showing strength. Holding current support at 1546. May want to retest 200 day avg and use that as support. Near upside target 1664. Stop loss below 200 day avg.
Gold is looking more and more everyday as if it wants to fall. A nice looking double top is beginning to form on the weekly chart.. still early and not confirmed yet, but definitely something to begin watching. More aggressive traders may want to start entering small positions at this point, if we break 1450 the pattern will be completed and additional positions...
Gold has taken off! Will it continue? It has broke out on good volume. Reverting back to to the averages again, if price holds support, my short term upside target is around 1630. If MACD turns around near zero it would help in propelling the price of gold to that next level. Look for confirmation of support and averages holding! Downside target would be around...
COMEX:GC1!
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