Gold sparkles in the flight to safety, nears October high

Technical Analysis

Gold shows signs of life

Sentiment has worsened in equities with the S&P 500 now down a whopping 90 points to 2700.

Normally you would expect a better outing from gold given the absolute beat down in stocks but this is a baby step for the precious metal.

It could take a larger step if it can break above the October high of $1243 in the next few days. Of course, that might take bigger signs of trouble.

Note however that there’s a positive seasonal pattern in gold in the first couple months of the year and it started early last year with buying starting in the second week of December.


Products You May Like

Articles You May Like

Best Trading Strategy | COMA Trading System for Forex and Stock Market Intro
Gold trades lower. Lowest level since May 6th
SEC Negotiations Have Cost Kik $5 Million, Says CEO
Gold Prices Tests 2019 Lows, GBPUSD Recovers on EURGBP Drop – US Market Open
China’s Treasury holdings fell in March, according to TIC data

Leave a Reply

Your email address will not be published. Required fields are marked *