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Gold At Critical Juncture Again

  • Written by Syndicated Publisher No Comments Comments
    October 31, 2013

    Technically, gold was extremely oversold beneath its important intermediate-term 30-week moving average in July. Its July-September rally carried it back up exactly to the overhead resistance at the m.a. But it couldn’t break through and tumbled back down.

    Its new attempt to rally over the last two weeks has it back up to the m.a. again.

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    And on the short-term chart, gold has broken through the short-term resistance at its 30-day m.a. again, but is sitting right at the trendline resistance that has halted its previous short-term rally attempts since the peak last October.

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    A critical point on both short-term and intermediate-term charts.

    To read my weekend newspaper column click here: The Bull Market Continues, But Watch Out For The Short-Term

    Subscribers to Street Smart Report: There will be an in-depth Markets Update, including gold, tomorrow in your secure area of Street Smart Report.com 

    Images: Flickr (licence attribution)

    About The Author – Sy Harding, Street Smart Report

    Sy Harding publishes the financial website Street Smart Report Online and a free daily Internet blog at Sy’s Free Blog. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!

    It includes our research and analysis on the economy and markets, and provides charts and buy and sell signals on the major market indexes, sectors, bonds, gold, individual stocks and etf’s, including short-sales and ‘inverse’ etf’s.

    It provides two model portfolios as guides. One is based on ourSeasonal Timing Strategy, one on our Market-Timing Strategy.

    In depth updates are provided every Wednesday, with interim ‘hotline’ updates every time we make a trade. An 8-page traditional newsletter Street Smart Report is provided on the website every 3 weeks, in pdf format for viewing or printing out.

    There is the Street Smart School of online technical analysis ‘seminars’,commentaries to keep you ‘street smart’ about Wall Street, and much more. 

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