Gold has been stunning traders both on the longside and short-side. Adam Hewison released a great video to describe different time frame action, as well as reveal insight into possible future direction thanks to their “Trade Triangle” Technology. Let’s compare charts and see what he means about gold. First, let me display my quick interpretation…
Gold prices have made record movements recently, and has defied classic technical analysis, so let’s take a quick look at the current structure and listen to an analysis that projects possible gold prices out six months. First, the Daily Chart that I refer to as “mystifying” technical analysis structure: Price broke through the 200 day…
Those following gold may take note today of a fresh new low formed for 2008 in Gold and the GLD ETF. Such a development may have been unimaginable earlier in March or July but such a move has occurred. Let’s take a quick look: GLD (Gold Trust tracking ETF): I’ve drawn this chart starting in…
According to a few price calculations and support levels, odds have now shifted to favor a current possible short-term bottom for crude oil prices and a reversal to test higher levels – a technical development that comes at a time that gold has supported at similar levels and the S&P 500 is breaking down out…
I’ve you’ve been following gold prices lately, you’ve noticed the precipitous plunge from the 1,025 per ounce high made just earlier this year. Rather than getting ultra bearish at these levels, let’s consider the possibility that a bounce may occur, or at least that gold prices are at critical ‘make or break’ short term price…
Last week, gold prices broke a set of resistance trendlines, and could be headed higher. Let’s look at the chart to see the recent developments. Gold prices (per ounce) daily: Whether you draw the longer trendline off the closing (or even intraday) highs from mid-March, or of the most recent two swing highs, price indeed…
Gold has been featured prominently in public news stories, but the price has actually fallen almost 20% from its peak. Has the shining precious metal formed a top… or is it building a base from which to rally higher soon? Let’s take a couple of perspectives: On the daily chart, a down trend has been…
Is the US Dollar Index in the process of bottoming? Has it formed one already? What does this mean for the overall market and for commodities? Let’s look briefly at the charts. First, the ‘structure’ of the Daily US Dollar Index: Notice the price making lows at $71 but always failing to exceed those lows. …
With the US Dollar Strengthening, Gold prices have been falling lately and have officially confirmed a strong sell signal on the daily chart. Let’s view this action: Gold ($GOLD) Daily Chart: There’s a few things I want to highlight on this chart. I have literally highlighted (and expanded) the most recent sell signal in the…
In a twisting reversal of fate, the US Dollar Index is coming off new lows after building a potential base while gold prices are coming off new highs after a climax top and potential top formation. The intermarket relationships are in full force. Let’s look! Notice the ‘mirror image’ occurring in this post. That’s because…