News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire... Gold Market Wire... Gold Market Wire
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Update

Fledgling Signs of Life

September 29, 2020 - (Gold Market Wire) - Gold has had some small upside action on the day before the month and quarter close out. Still, not much to get excited about. The trend remains lower and the upside appears weak. Still, we can see the down-trend break which brought in some small buying.

...the move over the downtrend line

The 100-day moving average has held, and that's a decent sign for the bulls- in consolation. It will need to hold to prevent another downdraft.

The picture is not hugely different in Silver, although the value of decline has been greater - as expected.

...the market bounced off the 100-day Moving Average.

So, we seem to have a worthwhile marker in the 100-day m.a. The first bounce has held, but any rally is still illusive. The medium term trend line shows another level of support.

some encouragement from the trend line

Everything is on hold until the month/quarter closes. Another drop down could bring the more serious buyers back into the market.

Pateince is the order of the day.

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