News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

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

Gold Starts to Press against the Downtrend

June 19, 2020 - (Gold Market Wire) - For eight sessions in a row, Gold has tried to bridge the downtrend line shown in our chart. It's been a slow undramatic fall off with neither side able to truly command the terrain of the market. The bears have a had a slight edge, but any true sell-off has been bought back. Have the altos brought us to a standstill? In the short term, maybe they have. But it is a situation that can't persist forever.

Right now Gold is making a small attempt, yet again, to break free. Getting over the line would be, at least, a first start in trying to set-up for a rally to challenge the horizontal resistance at $1748.

...still a system of lower highs, save for the very short term

Volume has been of no help as of late. It is listless. But a positive note is that investment demand for Gold, albeit in the form of ETFs, continues to grow. That means the public is still on board, and that is a decent back stop to the market.

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