Comments on: A MidWeek Look at Gold Daily Chart

By: sell gold online

sell gold online — Sat, 29 May 2010 13:26:03 +0000

Gold prices are getting higher and higher as long as the economy slumps.

By: ashrafjamal

ashrafjamal — Wed, 27 Jan 2010 23:55:40 +0000

Where gold stocks are going in a short term,1) this week, 2)next week, and 3)a week after
for example stocks, ego, gg, gld, aem, abx, au, etc………
what the profesional think

By: ashrafjamal

ashrafjamal — Wed, 27 Jan 2010 17:55:40 +0000

Where gold stocks are going in a short term,1) this week, 2)next week, and 3)a week after
for example stocks, ego, gg, gld, aem, abx, au, etc………
what the profesional think

By: Anonymous

Anonymous — Fri, 13 Mar 2009 03:47:24 +0000

- Last comment also from Win

By: Anonymous

Anonymous — Fri, 13 Mar 2009 03:46:27 +0000

C,
I’ve been watching gold very closely, and for a while, it was very close to the inverse of the market. Today’s strength in the face of rising equities — or rather, along with equities, though, broke that trend — shattered it. And today’s strength came with rising volume. In fact, I think I see an inverse H and S pattern on the 15 and 30 minute charts.

By: Anonymous

Anonymous — Fri, 13 Mar 2009 03:44:52 +0000

Corey,
I’ve been watching gold very closely, and for a while, it was very close to the inverse of the market. Today’s strength in the face of rising equities — or rather, along with equities, though, broke that trend — shattered it. And today’s strength came with rising volume. In fact, I think I see an inverse H and S pattern on the 15 and 30 minute charts.

By: Corey Rosenbloom

Corey Rosenbloom — Fri, 13 Mar 2009 02:01:05 +0000

Win,

Glad to have you as a reader and a commenter!

Today’s action (price rejection and support on $88) is bullish, but you have to admit it’s strange that gold is following the market like it is. The traditional interpretation – particularly in times of uncertainty – is that people flee into gold when the market falls and come out of gold and into the market when the market is rising (like now).

Something to keep an eye on.

But you’re right – the $88 level (GLD) is critical for any bullish strength.

By: Corey Rosenbloom

Corey Rosenbloom — Fri, 13 Mar 2009 01:59:09 +0000

Colin,

Hmm. I’ll have to look more closely at the pattern.

It’s certainly not your textbook H&S pattern but that doesn’t mean it isn’t right. A break of the neckline (at $88 on GLD) would confirm it but it hasn’t happened yet.

We’ll keep watching – good call.

By: Anonymous

Anonymous — Fri, 13 Mar 2009 00:57:17 +0000

Corey,
Thank you for your blog. You provide a great service.

I’m a long time watcher – first time commenter.

I interpret today’s action — a violation of the head and shoulders pattern — as very bullish. Do you agree?

Win

By: Colin

Colin — Wed, 11 Mar 2009 12:23:04 +0000

Corey,
I have noticed a head a shoulders pattern forming between late feb (left shoulder) and now the right shoulder has just formed. With declining volumes, this surely a confirmation of the pattern?