• 611 days Will The ECB Continue To Hike Rates?
  • 611 days Forbes: Aramco Remains Largest Company In The Middle East
  • 613 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,013 days Could Crypto Overtake Traditional Investment?
  • 1,018 days Americans Still Quitting Jobs At Record Pace
  • 1,019 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,023 days Is The Dollar Too Strong?
  • 1,023 days Big Tech Disappoints Investors on Earnings Calls
  • 1,024 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,025 days China Is Quietly Trying To Distance Itself From Russia
  • 1,026 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,030 days Crypto Investors Won Big In 2021
  • 1,030 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,031 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,033 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,034 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,037 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,038 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,038 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,040 days Are NFTs About To Take Over Gaming?
Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

  1. Home
  2. Markets
  3. Other

Gold Short-Term Weakness Targets $1600

Gold is weakening once again beneath its 200-day average. The move resumes downside pressure following gold’s latest reversal which was triggered by a DeMark™ exhaustion signal.

It still worth remembering the dramatic $103 one-day drop which will continue to offer psychological pressure for investors and traders.

Continue to watch for a break below $1600 (psychological) and $1567, thereby offering further setback into $1522 (29th Dec swing low).

A sustained confirmation beneath here would resume risk for a much larger decline that we have been anticipating. Keep in mind that our cycle analysis continues to highlight initial downside targets into $1460 and $1300.

This would likely trigger a temporary, but dramatic setback that would ultimately offer a unique tactical buying opportunity into this coming summer of 2012.

Only a sustained confirmation above $1810 will put the bearish ...

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment