When we look at the gold market, you can see the market and I’m still saying it, fighting a battle here at the 18-week average of closes. When we look at the chart action here we’ve come back up. And with today, we got our first reasonable reaction back down, but it broke nothing on the charts. You still have a pattern of higher lows and higher highs—bullish. The market is pulling back, and I wouldn’t mind if it pulled back into the 100-day average and the 18, in between $2667 to $2655.
The market stopped at the upper Bollinger Band, where the resistance point was expected to come in and momentum had gotten overbought and it’s correcting a bit.
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