If you look at the gold market, we finally got a correction. We’re down for the week 1.18 percent. Now, that’s a little bit of a bounce because the market is up tonight a little bit. You’re up about eight dollars from where you went. What the market did is it broke the pattern for the time being of consistent higher lows, higher highs. The market pulled back, it hasn’t gone to the 18-day average. That bigger supports waiting at $2740.40. What stopped the market was getting up to the upper Bollinger Band on Friday.
You had these numbers way up at the 90 level. It’s unusual to lose the embedded reading in one day, from those numbers. I mean, you can count it on a hand in the course of the year. Yet, that’s what the market did. It got a 78 reading. Tonight, you’re down to a 72 reading. So the odds do favor that if prices can’t pick themselves up, you might have to regroup closer to that 18-day average of closes.
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