• 11 hours Under COVID, The Rich Got Richer
  • 2 days Will Biden Lift Sanctions On Venezuela?
  • 2 days How To Play The Next Stage Of The Marijuana Boom
  • 3 days India Looks To Import More Venezuelan Oil Under Biden
  • 3 days 3 Unstoppable Stocks With A Biden Boost
  • 3 days The Biggest Biotech Story Of 2021?
  • 4 days Biden Looks To Rejoin Paris Climate Agreement
  • 4 days Capital One Fined Again For Money-Laundering Failure
  • 4 days The Star-Studded Fund Backing Clean Energy Startups
  • 5 days The Unexpected Retail Segment On Track To Hit $68B
  • 8 days Oil Demand Falters On New Wave Of Lockdowns
  • 8 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 9 days Investors Should Be Worried About Tech Stocks
  • 11 days Battle For Market Share Intensifies In COVID Streaming War
  • 13 days Censorship Is Now Private, And That’s Scary
  • 16 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 17 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 18 days NYSE Reverses China Company Delisting Plans … For Now
  • 20 days The Dollar Could Remain Weak For Years To Come
  • 24 days The Simple Secret To Tesla-Like Gains
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

Despite Resistance, The Long-Term Gold Trend Is Bullish

Gold rallied $26.50/oz. last week closing at 1,252.70 and above the 200-dma. Gold is finding resistance from the December trendline and the detrended oscillator is overbought warning of a pullback. Gold priced in Euros (lower) isn’t very bullish on gold’s prospects either. Cycles have us looking for a decline into mid-May and possibly as early as last week.

Longer term, despite the whipsaw in Nov-Jan, the 34-month moving average is a good indicator of trend. Currently, gold is above the moving average making the long-term trend bullish. Seasonality is bullish in May.

(Click to enlarge)

By Seattletechnicaladvisors.com

Back to homepage

Leave a comment

Leave a comment