Tag: gold charts

Gold gets rejected at resistance

Gold gets rejected at resistance

Since gold flushed out some traders on the previous bearish “Head and Shoulders” pattern that was pointed out on the blog last week, gold made a rally to the prior support of the “Balance Area” around $1,755 an ounce and this acted as strong resistance. I would have never guessed that over the past six weeks I would not have had a single entry for a swing/position trade in gold to the long side in the model swing/position trade portfolio, but there has not been a single order executed with my methodology.  There is nothing wrong with preserving capital for future opportunities. The last COT report in gold this past Friday showed the longs […]

Continue Reading

Chart of the intra day – Gold

Chart of the intra day – Gold

I have not put on a “swing/position” trade yet in Gold since starting the subscription based service on September 9th, 2012.  I am biased to the long side, but a favorable trade location for a swing trade hasn’t presented itself in regards to probabilities, reward and risk with my methodology.  It has been wise over the past three weeks to stay on the sidelines in that respect. As far as patterns go, today there was a textbook bearish “Head and Shoulders” pattern on the 5 minute chart below with the “measured rule” target getting nailed quickly. I would prefer to see the 1,755 area of previous support in the daily timeframe get tested, and a […]

Continue Reading

The opposing forces behind gold’s bull market

The opposing forces behind gold’s bull market

What accounts for gold’s strong performance since the initial rebound in July? That’s the question that many analysts are (belatedly) trying to answer. The first and most obvious answer is stimulus; specifically the stimulus provided by the world’s leading central bank in the U.S. The Federal Reserve’s latest bond-buying scheme known as QE3 is to date the biggest stimulus aid that has had an impact in boosting the gold price. As we all know, gold loves inflation and any increase in monetary liquidity in the global financial system will be reflected in an increasing gold price sooner or later. Analysts have noted that the gold price has recently increased in, […]

Continue Reading

Gold price breakout continuing on September 7th 2012

Gold price breakout continuing on September 7th 2012

For three weeks in a row, the gold price has been closing the week with a strong increase. On August 31st, we saw the US Fed coming up with clear hints to more money stimulus to come. In his speech, Mr Bernanke made his case and defended his monetary policy; it became clear that more of the same was coming. On September 6th, Mr Draghi in Europe confirmed earlier rumours that the ECB would buy bonds of several European countries that are in trouble. In fact, what his happening here is that the root cause of the problem (excessive debts by countries) is being cured by creating even more debts (money […]

Continue Reading

How to ride the gold wave and minimize risk

| September 3, 2012 | Articles: Insights
How to ride the gold wave and minimize risk

Now that GLD has taken off like a rocket the last few days the question arises “how does one manage the risks?”. That being the risks of chasing a stock and sitting through a pullback right after one buys? Ever get caught up in the moment only to see shortly thereafter the stock pulls back after you are in? Isn’t it at those times you wished you had just remained calm, cool and collected to enable you to get a better fill? That’s called chasing a bus here at All About Trends and every day we hammer the point home — do NOT chase buses, but instead wait for stocks […]

Continue Reading

Gold-Stock ETF Rising

Gold-Stock ETF Rising

As gold enters into a season of fundamental strength and what should be a powerful new upleg, there ought to be rekindled interest in gold stocks. In fact, if gold indeed rallies the gold-stock sector will likely see a much-more-powerful upleg than the metal considering how oversold it’s been. And one of the first places investors will go when they are drawn to this sector is the venerable GDX Gold Miners ETF. GDX was the first gold-stock ETF when it was born in 2006. And with net assets of nearly $8.0b, today it is the largest of its kind. GDX’s strong correlation history with gold has made it a popular […]

Continue Reading

Your Window to Buy Gold Below $1,700 Is Closing

Your Window to Buy Gold Below $1,700 Is Closing

By Jeff Clark, Casey Research Even the hardiest investors have been lamenting that gold prices have been stuck in a rut for a long time. Others with less experience have watched the market waiting for something to happen…. And as always, many bailed out of the market entirely, licking their wounds. But some, including me, have been stocking up. We’re convinced prices won’t stay down forever. In fact, I think there’s a good reason to buy gold if you can, and as soon as possible. Here’s why: Based on the data I chart below, I believe the window of time to buy gold for less than $1,700 an ounce is […]

Continue Reading

The Gold Cycles: Short and Long Term Outlook

The Gold Cycles: Short and Long Term Outlook

The following is an excerpt from the premium update from the The Financial Tap, which  is dedicated to helping people learn to grow into successful investors. They provide cycle research on a number of markets through weekly updates and trade alerts. Learn more about how The Financial Tap can help you have success in the markets. Kudos to gold and its ability to rally after what had been a stretch of fairly average action.  The mini breakout by gold has broken the long running series of lower Daily Cycle tops, a positive development that will need to be sustained if we’re to see Gold begin to move higher over time.  For now though, Gold […]

Continue Reading

Precious metals update

Precious metals update

Gold is now at the backside of prior “Major” trendline resistance, see right hand side chart below.  The bulls do not want to see a breakdown from here.  I mentioned in the previous post on gold that the breakout to the upside from the “Descending Triangle” pattern was not a signal to buy for the intermediate to long term for me.  I believe that risk is high in relation to probabilities of a new bullish trend developing in the daily timeframe.  Those who think that this trendline break is the “all-clear” signal to buy are “rolling the dice” in my opinion.  In the meantime, should the backside of this trendline hold as support, things start to get more interesting from a bullish […]

Continue Reading

Gold price today – August 29, 2012

Gold price today – August 29, 2012

The gold price didn’t move much today. For the past couple of days, the prices are rather stable between the 1,650 US dollar and 1,675. If gold can hold the 1,650 support level, it would be a very good sign of strength. After a spectacular week where gold and silver broke out of their narrowing range,  it seems to be time for a break. The short term consolidation is somehow logic, with the assumption that we are at the beginning of the breakout process.   It seems that Investors are waiting for decisions from the Central Banks in the US and Europe. The US Fed is having their meeting on Thursday and […]

Continue Reading

The Precious Metals MAJOR Breakout Part II

The Precious Metals MAJOR Breakout Part II

It has been a year since the price of gold bullion topped out and even longer for silver. Many traders and investors have been patiently waiting for this long term consolidation pattern to breakout and trigger the rally for precious metals and miner stocks. Most of gold bullion is used for investment purposes.  As a result, it rises when there is economic weakness and investors lose confidence in the fiat currency of a country. With continuing economic weakness in the United States it will almost certainly lead the Federal Reserve to act in way that is more powerful than Operation Twist which is the selling of short term securities to […]

Continue Reading

Gold price breaking out, silver price outperforming, 21 August 2012

Gold price breaking out, silver price outperforming, 21 August 2012

It’s the second day in a row that both the gold price and the silver price in US dollar are surging. They are breaking some of their technical resistance lines, although volume is not very high (typical for the last two weeks of August). The gold price in US dollar is up with 1%, the silver price in US dollar is up with some 2.3%. Spot prices in other currencies were not up today with a similar percentage, probably because prices are already near their all-time highs in most currencies while  dollar gold is some 15% below its nominal high. The interesting fact is that both gold and silver prices are approaching […]

Continue Reading

Charting Gold

Charting Gold

“Some men see things as they are and say why – I dream of things that never were and say why not.” If George Bernard Shaw were around today, he might apply his famous quote to the price of gold. Spot gold is trading near it January levels, and down from its high for the year at 1792 back in February. As GBS might ask “What’s been holding the price of gold back?” The simple answer is there are no more buyers than sellers. Owners of the yellow metal are not selling, and others are not buying right now. That has not been the case throughout the year, so far. The […]

Continue Reading

Buying The Summer Lows While Gold Bottoms

Buying The Summer Lows While Gold Bottoms

General Outlook for Gold and the Miners It is our firm belief that the precious metals sector has bottomed out and the downside is very limited from here on out.  While there doesn’t seem to be an immediate rush back into the sector, now is a great time to be acquiring physical metals, but more importantly producers with growth profiles. That’s where we really see the value and upside potential.  Now would be a good time to start adding and scaling into any new positions you plan on taking. If we would have to make a speculative/educated guess/evaluation, by looking at the charts and fundamentals for precious metals and the […]

Continue Reading