Weekly Chart Review

Weekly Chart Review

This week’s review will concentrate on issues that have retained good technical patterns despite the recent correction.

Gold Prices Reverse Trend

Gold prices ended below $900 an ounce Tuesday, as a rally in the stock market reduced the precious metal’s appeal as a safe haven. Gold for April delivery dropped $22.10, or 2.3%, to end at $895.90 an ounce on the New York Mercantile Exchange: IAU may be on the brink of breaking the 50-day moving .. read more

Federal Reserve: An Oxymoron

From Merriam Webster’s On Line Dictionary: Reserve – To hold in reserve: keep back; to retain or hold over to a future time or place. The Federal Reserve officially cast aside the last of their reserve today. The decision of the FOMC to cut interest rates yet again, basically to zero, means that we won’t be in .. read more

Dollar, Gold Trends Continue

In a post last Monday, I highlighted an emerging trend in the US dollar and gold. I am also feeling more bullish on the gold market. It hasn’t broken out of its range yet but the dollar may be peaking. Gold generally moves inversely to the dollar so if the dollar fails here, gold should .. read more