Update on the Gold Market May 21
Just as I was about to post an update on the Gold Market and the subsequent recent breakout, Adam Hewison also released a video update which I’ll add to this update.
Possible Fractal Elliott Wave Count of Gold May 12
Here is a possible Elliott Wave count interpretation and simple structure forecast for Gold prices going forward
Gold Inflects off Key Support – Daily Structure
old prices recently defended a critical support area. Let’s see Gold’s daily structure and note the confluence of Fibonacci and Moving Average support.
Cross-Market Comparison of Gold, Dollar, and Crude Oil April 26
As requested by a few readers, I wanted to take a quick cross-market look at the daily charts of the US Dollar Index, Crude Oil ($WTIC), and Gold. Let’s see what may be the next major move in each of these inter-related markets. US Dollar Index: Let’s start with the US Dollar Index and make…
Gold Teeters on Support Line
Gold prices are at a key support level, where just a slight push either way will lead to a breakout move. The daily moving averages and a key trendline hold the current price in the balance. Let’s look at Gold’s daily structure. A rising trend channel has developed off the October 2008 lows which carries…
A Look Inside the Trend Day in Gold GLD
While the Stock Market gave us a Trend Day Down, Gold gave us a powerful trend day up. I thought it would be more appealing to look at an upward-sloping trend day than a down one, plus it shows that the “ideal” intraday concepts I frequently discuss using the DIA, actually work for all markets…
A MidWeek Look at Gold Daily Chart
Gold prices have been confounding both longs and shorts, particularly in a climate of economic uncertainty. Let’s take a look at gold’s daily chart and see a basic technical analysis 101 pattern that’s currently containing the price structure in gold. Gold Daily Chart: (Click for large image) Despite all the Elliott Wave, Fibonacci, Cycle, Indicator,…
Fibonacci Confluence Prices on Gold Weekly
What might be potential Fibonacci Confluence Cluster zones for gold? Let’s also take a quick look at the Weekly Chart Structure to see where we’ve come from and where we might be headed. Gold Weekly (Fibonacci): (You’ll need to click for large image) The Fibonacci grid is drawn off the $1,000 level which does not…
Weekly and Daily Take on Gold Prices
A few readers have asked me to take a look at Gold prices and I will do so, starting with a possible Elliott Count on the Weekly chart and then dropping down to see resistance and an interesting structure on the Daily Chart. Gold Prices ($GOLD) Weekly: Ok, let’s take this slowly. I’m not saying…
Current Gold Price Structure
Gold prices have been rising as the US Dollar Index has detiorated towards the end of the year. Let’s take a look at the weekly and daily price structure to see what’s happened and what might be in store. Gold Prices Weekly: On the weekly chart, price is still in a confirmed downtrend, which is…