EMA TO STOCK FULL
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In the meantime, I think a little bit of patience will probably go a long way.įor a look at all of today’s economic events, check out our economic calendar. I do think at this point in time, it more or less looks like a market that’s trying to build up the necessary momentum to go higher, but I need the market to tell me it’s time to get long before I start buying gold again. In the interim, I think that we just simply go back and forth in this little area as we try to figure out where we are going next. However, if yields start to drop again, then I think that negative correlation could come into play, allowing gold to rally.
After all, when the bond markets offer a good return, then it’s likely that we would see the gold market drop a bit, as it’s safer to simply own bonds. I do think eventually we have the market going higher, but obviously we need to see the bond markets offer a little less in the way of yield. We would also see a lot of noise underneath due to the fact that you would be between the 50-Day EMA and the 200-Day EMA indicators, which typically means that we have a lot of noisy behavior. On the other hand, if we were to break down below the $1960 level, it’s very possible that we could drop down to the 61.8% Fibonacci level, closer to the $1920 level. If we break above the $2000 level, then it’s likely that we could go looking to the $2050 level above. Past performance is a poor indicator of future performance.When you look at the chart, you can see that the $1960 level offers support, while the $2000 level above is resistance. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on or relating to the use of, or inability to use, or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. Under no circumstances does any information posted on represent a recommendation to buy or sell a security. Is not operated by a broker, a dealer, or a registered investment adviser.
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