"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 10 hours Millennials Are Waiting For A $30T Inheritance That Might Not Come
  • 11 hours Is This the Tipping Point for American Credit Card Debt?
  • 12 hours Tech Icon Predicts A Big Future For Ethereum
  • 13 hours Apple Doubles Down On Data Privacy
  • 14 hours Where To Look As The Treasury Bond Bull Run Loses Steam
  • 15 hours The Tech Giants Poised For A Breakout
  • 17 hours The U.S. Dollar Is Set To Continue Its Rally
  • 18 hours Bitcoin Plummets On Price Manipulation Investigation
  • 1 day The Multi-Billion-Dollar Business Of Influence Peddling
  • 1 day Goldman Backed ‘Stablecoin’ Hopes To Curb Crypto Volatility
  • 2 days Consumers Lost $1.6M To Crypto Fraud In Australia
  • 2 days Facebook May Soon Become A Paid Service
  • 2 days How Far Can Gold Prices Fall?
  • 2 days The Battle For Shkreli's $2 Million Wu-Tang Record
  • 2 days The Bitcoin Miner Eyeing A $1 Billion IPO
  • 2 days China’s Social Credit Score Blacklists Travelers For Bad Behavior
  • 2 days Micron Soars On $10-Billion Share Buyback
  • 3 days Nearly Half Of All Americans Are Struggling Financially
  • 3 days Could Crypto Solve The Middle East’s Currency Crisis?
  • 3 days The Biggest Hurdle For The Buffett-Bezos Healthcare Plan
PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s latest acquisition allows the…

The Tech Giants Poised For A Breakout

The Tech Giants Poised For A Breakout

Bullish sentiment seems to have…

Gold

Gold has gone sideways since late Oct. and at this point the Dec 24 low is pivotal. A close below 1,173.50 will open the door for a return to the Nov low at 1,137. The 89-dma has done a good job of providing support and resistance all year and is now at 1,212. Stay bearish until it is exceeded.

A bull flag (if triggered by a move above the 89-dma) measures a minimum move to 1,300. A five-wave decline from the 2011 high appears to be finished and comes complete with a positive divergence in weekly RSI (chart). However, a full moon (often seen at turning points in gold) is due today and short-term cycle highs are due near Jan 7 and 13 so any rally early this week will probably be turned back once again.

The next cycle low is due near Jan 23 but the Nov. rally should last until at least until mid-February when an intermediate-term cycle high is due followed by a decline into mid-April. A 21-mo cycle is also due in Feb.

Relative Strength Index
Larger Image

 


Try a 'sneak-peek' at Seattle Technical Advisors.com

 

Back to homepage

Leave a comment

Leave a comment