Weekly Analysis: Metals

2021-05-09T11:35:49-05:00May 9th, 2021|Metals, Weekly Analysis|

Gold (June) Secondary Trend: Up Futures Spreads: Carry, Neutral-to-Bearish Market Type: 2 or 3, Bullish to Less Bullish Analysis: The next upside target on June gold's weekly chart I between $1,842.90 and $1,894.40. I'm not looking for much beyond that, [...]

Weekly Analysis: Metals

2021-03-14T13:21:50-05:00March 14th, 2021|Metals, Weekly Analysis|

Gold (April) Weekly Close: $1,719.80, up $21.30 Trends: Major (long-term) = Down, Secondary (intermediate-term) = Up, Minor (short-term) = Up Analysis: April gold extended its secondary downtrend to a low of $1,673.30 before closing higher, establishing a bullish spike reversal. [...]

Weekly Analysis: Metals and Currencies

2020-11-08T08:16:55-06:00November 8th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,851.70, up $71.80. Secondary Trend: Down. Dec-Feb Spread: (-$7.40) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $1,784.60. Analysis: Gold is a difficult market to analyze given the chaos of last week. The Dec contract reversed to a new 4-week high, bullish technically, without [...]

Weekly Analysis: Metals and Currencies

2020-11-01T11:36:42-06:00November 1st, 2020|Metals|

Gold (Dec) Weekly Close: $1,879.90, down $25.30. Secondary Trend: Down. Dec-Feb Spread: (-$7.30) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $1,784.60. Analysis: Dec gold stubbornly held support at its 4-week low of $1,851.10, though last week’s mark of $1,859.20 is now the 4-week low. With weekly stochastics [...]

Weekly Analysis: Metals and Currencies

2020-10-18T09:54:57-05:00October 18th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,906.40, down $19.80. Secondary Trend: Down. Dec-Feb Spread: (-$7.60) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $1,784.60. Analysis: Initial secondary support is at the 4-week low of $1,851.00. Weekly stochastics remain bearish above the oversold level of 20%. Theoretical Position: Short positions were [...]

Weekly Analysis: Metals and Currencies

2020-10-11T14:12:43-05:00October 11th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,926.20, up $18.60. Secondary Trend: Down. Dec-Feb Spread: (-$7.40) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: Minor = $1,942.00 to $1,970.10. Analysis: Despite another higher weekly close, Dec gold remains in a secondary downtrend. The minor trend is up, a move that could [...]

Weekly Analysis: Metals and Currencies

2020-10-04T16:20:48-05:00October 4th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,900.20, up $42.50. Secondary Trend: Down. Dec-Feb Spread: (-$7.10) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $1,827.70, $1.755.00, and $1682.40. Analysis: Despite its higher weekly close, Dec gold remains in a secondary downtrend. After posting a new 4-week low below $1,843.20 the contract [...]

Weekly Analysis: Metals and Currencies

2020-09-27T15:46:57-05:00September 27th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,866.30, down $95.80. Secondary Trend: Down. Dec-Feb Spread: (-$7.20) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $1,827.70, $1.755.00, and $1682.40. Analysis: Dec gold broke out of its consolidation pattern with a move to a new 4-week low last week. With weekly stochastics still [...]

Weekly Analysis: Metals and Currencies

2020-09-20T06:40:53-05:00September 20th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,952.10, up $14.30. Secondary Trend: Sideways. Dec-Feb Spread: (-$7.60) = Neutral. Market Type: 5 = Neutral. Price Distribution: NA. Target: None at this time. Analysis:While Dec gold could still be classified in a secondary downtrend, the [...]

Weekly Analysis: Metals and Currencies

2020-09-13T08:20:43-05:00September 13th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,947.90, up $13.60. Secondary Trend: Down. Dec-Feb Spread: (-$7.80) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: $1,827.70 to $1,755.00. Analysis: Despite its higher weekly close, Dec gold still looks to be in [...]

Weekly Analysis: Metals

2020-09-06T15:22:18-05:00September 6th, 2020|Metals, Weekly Analysis|

Gold (Dec) Weekly Close: $1,934.30, down $40.60. Secondary Trend: Down. Dec-Feb Spread: (-$7.40) = Neutral. Market Type: 2 = Bearish. Price Distribution: NA. Target: None at this time. Analysis:Dec gold still looks to be in a secondary downtrend, though no [...]

Weekly Analysis: Metals

2020-08-09T16:19:36-05:00August 9th, 2020|Metals, Weekly Analysis|

Gold (Dec) closed at $2,018.00, up $32.10 for the week. Trends: Secondary = Up. Targets: None. Conclusion: The December contract established a new all-time high for gold futures last week, hitting $2,089.20 before pulling back at the close. Yes, the market is sharply overbought, but has been [...]

Weekly Analysis: Metals

2020-07-26T12:01:13-05:00July 26th, 2020|Metals, Weekly Analysis|

Gold closed at $1,897.50, up $87.50 for the week. Trends: Secondary = Up. Targets: None. Conclusion:  We need to keep an eye out for a reversal pattern, or a move to a new 4-week low below $1,753.50. Theoretical Position: There [...]

Weekly Analysis: Metals

2020-06-28T08:41:35-05:00June 28th, 2020|Metals, Weekly Analysis|

Gold closed at $1,780.30, up $27.30 for the week. Trends: Secondary = Sideways-to-up. Targets: None. Conclusion: The August contract pushed to a new high last week of $1,796.10, erasing previous signals of a secondary downtrend. However, weekly stochastics remain overbought [...]

Weekly Analysis: Metals and Currencies

2020-06-14T09:02:01-05:00June 14th, 2020|Metals, Weekly Analysis|

Gold closed at $1,737.30, down $54.30 for the week. Trends: Minor = Sideways. Secondary = Down. Targets: Minor = $1,661.30 to $1,621.90. Secondary = $1,582.00 to $1,454.10. Conclusion:The secondary trend still looks to be down based on the double-top pattern [...]

Metals

2019-01-20T13:09:52-06:00January 19th, 2019|Metals, Weekly Analysis|

Gold: The February contract closed at $1,282.60, down $6.90 for the week. The contract continues to consolidate between $1,300.40 and $1,278.10, the range from the week of December 31. Weekly stochastics established a bearish crossover above the overbought level of [...]

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