Gold Signals Additional Weakness Ahead
Gold closed higher due to short covering on Friday as it consolidated some of this week’s decline. The high range close sets the stage for a steady to higher opening on Monday but Stochastics and the RSI are still bearish signaling that additional weakness is possible near term.
If December renews the decline off September’s high, the 38% retracement level of the 2008-2011 rally crossing at 1476.20 is the next downside target. Closes above Monday’s high crossing at 1696.80 are needed to confirm that a short term low has been posted.
Our Chart Analysis Score for gold has moved to +55 indicating a trading range for this precious metal in the near term. Longer term, our monthly Trade Triangle and our intermediate term weekly Trade Triangle remain in a positive mode. I think most traders would be better off just watching from the sidelines. Only long term traders should maintain long positions with the appropriate money management stops in place.
Get your favorite symbols’ Trend Analysis TODAY!
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
| Online: | |
| Visits: | 1,606,780,164 |
| Stories: | 8,159,867 |
Whistler Blowers, Insiders
In real terms world trade (i.e. the sum of imports and exports) is set to jump from $37 trillion in 2010 to $287 trillion in 2050
. India India Sets Ambitious 10% Annual Growth Rate For 2012 -2017 With $1 Trillion for Infrastructure ! NEW DELHI – If this year’s preparations on India’s next Five-Year Plan (2012-17) provide any indication, the Planning Commission is likely to set ambitious targets for economic growth, kicking it up to an annual rate of 10 percent, highlighted by a $1 trillion investment for infrastructure development
to invest $1 trillion in infrastructure over five years: PM … to achieving nine
percent growth, targeted for the next Five Year Plan2012-13 to 2016-17