-- Published: Wednesday, 18 November 2015 | Print | Disqus
By Ira Epstein
Today we get to see the minutes of the last FOMC Meeting. It's unlikely that it will contain news good for the gold market.
With the US Dollar continuing to show strength, commodity markets are under severe pressure.
Metals, even precious ones like gold are finding fewer reasons for ownership as long as the Dollar stays firm and world Central Banks move to address economic issues. Right now if you're a commodity trader you're looking at deflation, not inflation in commodities.
Be it copper, silver, energies or grains...prices are declining.
There's a strong probability of a liftoff in US rate interests either this coming December or early 2016. At the same time the European Central Bank is contemplating easing measures while China's economy continues to slow down. Simply put, there's little reason to buy gold as there's no inflation pressure and world events in terms of war aren't such to booster the price of Gold.
What this means is prices will likely dive to levels unexpected. Did you think copper would be down to $2.00 a pound? I doubt it, which means you might want to rethink how low gold might go.
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The Price Count Study is a technical indicator, exclusive to QT Charts – PriceCounts ®. What this exclusive study attempts to do is project the distance of a move in price. The counts are not intended to be an "exact science" but rather offer a target are for various based objectives based off the first leg of a price move. The initial leg is contained by two parallel lines on the above chart.
Swinglines ® is another of our exclusive chart studies. This study plot highs and lows in a manner that determines under a strict set of rules, trend and risk associated with trend as portrayed on QT Charts.
Both of these studies are yours to work with in QT Charts. You'll be provided with charting software that includes use of theses studies, videos on how to apply and use Price Counts and a 13 page pdf that explains in detail, how Price Counts Work.
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If you'd like, you'll also be presented with an opportunity to try out our market research for the next month, assuming you haven’t' already done so. We know you'll find it interesting.
© 2015 Ira Epstein Division of Linn & Associates, LLC.
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-- Published: Wednesday, 18 November 2015 | E-Mail | Print | Source: GoldSeek.com