Gold, Silver & Other Precious Metals 16 (Aug 17 - Apr 19)

Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Sun Mar 17, 2019 10:40 pm

Gold: 1302.90, +7.80.

Gold dumped to end February, bounced back over the 50 day MA midweek, but is struggling on the rebound.

Actually, it is good gold struggles and fades some.

It has a near term, 6 week head and shoulders, and some more downside would not hurt as it suggests tamer inflation, better economics.

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Mar 25, 2019 8:24 am

Gold: 1312.30, +5.00. Not surging, but definitely holding over the 50 day MA's
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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Apr 01, 2019 11:11 am

Gold: 1298.50, +3.20.

Crashed below the 50 day MA Thursday, tried to recover Friday, failed to hold a try over the 50 day EMA.

Sudden weakness is not a bad indication.

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Apr 08, 2019 6:22 pm

Gold: 1295.60, +1.30.

After the peak in mid-February, gold is back to the upper trendline in the big triangle.

Bounced once, now fading back to that level again to try for a double bottom.

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Apr 15, 2019 8:01 am

Gold: 1295.20, +1.90.

Trying to hold support after the Thursday drop back below the 50 day MA.

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Apr 22, 2019 8:11 am

Gold: 1276.00, -0.80

Gold slid on the week, continuing the 2 week drop.

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Tue Apr 23, 2019 9:21 am

Based on the height of the head-and-shoulders pattern, the price of gold could drop below $1,240 per ounce -- further confirming that investors are moving their money out of gold and into higher-yielding assets, like stocks.

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Apr 29, 2019 9:22 am

Gold: 1288.80, +9.10

Sold to the upper trendline of its large triangle, held for a week, then bounced nicely Friday.

Not buying the economic data?

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