A Chart for Today
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
This chart courtesy Stockcharts.com shows the weekly trend for gold. Price produced a ‘downside reversal’ last week, and the usual result is at least one week of lower prices. In the event that gold can shake of the negative effect of the DR, price may be able to break out at the blue arrow. That would be very bullish. The supporting indicators are positive and the moving averages are in positive alignment, and rising (green oval).
Peter Degraaf is an investor with over 50 years of experience. Google him or visit www.pdegraaf.com