Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Here's Why the Price of Palladium Just Zoomed Past Gold
By: Frank Holmes

Charts for Key Stocks Show How Quickly Bulls Could Turn the Tide
By: Rick Ackerman

Asian Metals Market Update: Jan 23 2019
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold Gains While Stocks Drop
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 1 22 2019
By: Ira Epstein

Will A 35th Iteration Of This Night and Day Cycle Change Your Retirement?
By: Daniel R. Amerman, CFA

The Hawks Surrender
By: Peter Schiff

The Power of Gold Diversification
By: Michael J. Kosares

The Dollar Works Just Fine
By: Keith Weiner

Gold: Is The Correction Over?
By: Stewart Thomson

 
Search

GoldSeek Web

 
Gold Update


 -- Published: Tuesday, 1 March 2016 | Print  | Disqus 

The advance of gold continues as the price action stays above the two year weekly channel that was breached for the first time a few weeks back. When this kind of event happens, technical analysts wait and see if what was formerly a line of price resistance becomes a line of price support. In the case of gold, that line has mostly held as the weekly closes have stayed above it. The current sideways action should break out to newer highs based on the next chart below, but expect a retest of the weekly channel line at $1,200 after this.

 

 

That chart is the 4 hour price action which shows a clear triangle in progress since the recent peak of $1263. Given the RSI for daily gold is at 66, there is room for gold to go higher and push the RSI into the overbought territory whilst breaching this triangle to the upside and making new highs. After this and as said above, gold could dip back into this triangle but hopefully hold above the weekly line.

 

 

 

The situation for silver is more delicate as it has yet to catch gold’s fire (as shown by the rising gold-silver ratio). Subscribers have been posted this information in our regular weekend update.

 

 

Further analysis of silver can be had by going to our silver blog at http://silveranalyst.blogspot.com where readers can obtain subscription details for the Silver Analyst newsletter. Comments and questions are also invited via email to silveranalysis@yahoo.co.uk.


| Digg This Article
 -- Published: Tuesday, 1 March 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.