News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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Gold Market Wire

News, analysis and commentary for gold traders and investors

The Technical Take

A New Channel for Gold?

May 4, 2020 - (Gold Market Wire) - For you consideration. A potential new channel for Gold could be developing for a market staking out a new direction. It's an uptrend that was first defined by "the box" from last week, but now has a chance to challenge the April highs in a less spectacular format than what the last two weeks of April tried to do.

...we've been in this one for a while - a new trend?

It's always about finding the tempo of the market. Last week's box formation turned out to define where the downdraft would be felt, but the recovery was quick. Gold wanted back in the game and now it looks like the channel has been confirmed. We're setting out some new markers today at the beginning of the trading week, which will provide us with some entry points, and also where to plan an exit if we need one.

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