News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Brent Crude Oil Closes in on $90 per Barrel
Brent Crude Oil Closes in on $90 per Barrel
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US and British Embassy Staff Begin Leaving Ukraine as Tensions Mount
US and British Embassy Staff Begin Leaving Ukraine as Tensions Mount
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US CPI Increases to 7% Year-on-Year in December; Up from 6.8% Year-on-Year in November
US CPI Increases to 7% Year-on-Year in December; Up from 6.8% Year-on-Year in November
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GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
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*** 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

Gold Breaks out of The Box

December 16, 2021 - (Gold Market Wire) - Gold has finally broken out of the Box formation which we described in our previous post. Almost four weeks hemmed in - we now have gotten "free". But as the chart shows, we now have the top of the channel to contend with.

...free at last - but now the top of the channel beckons.

A US Dollar sell off has been the catalyst for the rally, but the 50-day moving average and the channel top are further hurdles. Still, when we take yesterday's bar formation, long tail, drilling down followed by recovery and today's gap, we are getting some encouragement. Those who traded the Box have done o.k. There was some money to be had. Right now, we'd like to see a proper channel break-out at the end of the week to give us some confirmation. We won't chase here - but will see if the market can confirm on the close tomorrow.

Still - a welcome development, if a long time coming.

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