News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Russia Envisions "Final Destruction of Russian-Norwegian Relations" over Arctic
Russia Envisions "Final Destruction of Russian-Norwegian Relations" over Arctic
***
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
***
*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
***
Subscribe to receive our market report service:
Market Info
Feature coming soon.
Thank you for your patience

Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Update

Gold Moves Higher...But Can It Continue?

January 20, 2020 - (Gold Market Wire) - Gold has made a move higher, but the big question in front of us is "Can it Continue?" Gold has been fairly dead in the water for almost a year now, with a few pieces of volatility.

...chopping around, more than 'trending' (weekly chart)

For over half a year, at least, you could really call it $1750-$1850...in a box formation. Hardly exciting, and nothing of the trending motion we'd like to see. Sure, you could scalp and chop - that's what we did last year. But it's an arduous task. Even more, the question becomes, which side do you want to scalp from? Last year we 'jobbed' the market from the long side, but whose to say we should continue that? That market looks placid - and even uncertain, which is why we are shedding our length on rallies, with a view to getting fairly flat now.

If we add the (weekly, again) downtrend, we get a clearer picture.

weekly chart - with downtrend

And that picture is far less exciting.

Even as we move back to the daily, we can see that the latest burst higher could well just be that...i.e. - nothing to get excited about.

our trend and resistance lines.

So we'll have to wait and see if our downtrend gets cleared.

Overall, we remain unconvinced by the bullish argument. Gold has had multiple opportunities to get 'airborne' in the past 6-9 months, and honestly, has failed to do so.

We remain neutral. The market remains boring. There are better opportunities to trade in other markets. That is an opinion - with a lot a fact on its side.

< Previous articleHome pageNext article >
<- Go Back