News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
***
Gold Makes Its Run to $2,000 an ounce...Target in Sight
Gold Makes Its Run to $2,000 an ounce...Target in Sight
***
CME Raises Silver Margins by 12.5%
CME Raises Silver Margins by 12.5%
***
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
***
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
***
Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
***
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
***
Bank of Japan to Loan $1 Trillion into Economy
Bank of Japan to Loan $1 Trillion into Economy
***
*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
***
Subscribe to receive our monthly report
Market Info
Feature coming soon.
Thank you for your patience

Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Opening

Waiting for Gold's New Pattern

July 2, 2020 - (Gold Market Wire) - Gold is sitting down on the trend line this European a.m. as the market seeks a new direction. Right now the holding of the trend line is indicating that the bulls still have a slight advantage, but the creation of a new pattern demands some patience. The uptrend still holds firm and the market needs to collect itself after a fairly dramatic end to the quarter.

the uptrend line has held - - but that also looks like a topping formation

This is going to be an interesting resolution; the battle between the major overhead resistance and the uptrend. Right now its a toss up, and we await a clearer indication. Yesterday's rally into the close gave us what we were looking for, namely, a rally to sell out the last of the length.

30 minute chart showed the exit opening.

Now its time to sit back and wait for the market to develop. There is little point in seeking action for the trading opportunity... that's just boredom taking over. Patience is the order of the day, today, barring some serious market developments.

< Previous articleHome pageNext article >
<- Go Back