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Decision Time

Decision Time

Last week, I mentioned that…

GLD May Not Yet Be Ready To Break Out

GLD May Not Yet Be Ready To Break Out

While I have gone on…

Daily Technical Report

Gold: Positive for the short-term.

Gold remains fragile after its dramatic 20% price fall, which helped confirm the extreme overbought conditions (marked by DeMark™ indicators). This also timed a key cycle peak, ahead of that all-important $2000 glass-ceiling.

However, short-term price activity is building constructively higher around key level at 1760. A sustained move above here would open moves into 1844.

Speculative (net long) flows remain a concern having recently breached a key downside level which may threaten over 2 years of sizeable long gold positions.

Daily Technical Report

 

Read the Report

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