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

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 17 2017
By: Ira Epstein

Next-Generation Crazy: The Fed Plans For The Coming Recession
By: John Rubino

COT Gold, Silver and US Dollar Index Report - November 17, 2017
By: GoldSeek.com

Gold Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Bonfire of the Absurdities
By: John Mauldin

The Social Security Inflation Lag Calendar - Partial Indexing Part 1
By: Daniel R. Amerman, CFA

Rob From The Middle Class Economics
By: Gary Christenson

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

The Metals Market Is A Mess And Will Likely Continue To Frustrate You
By: Avi Gilburt

 
Search

GoldSeek Web

 
Skeptical About Gold's Rally

By: Rick Ackerman, Rick's Picks

 -- Published: Monday, 17 November 2014 | Print  | Disqus 

On Twitter early Friday morning, I was throwing in the towel on Gold at the very instant Comex futures went bonkers. Technically speaking, the surge in the December contract $1.20 shy of an 1194.10 target that could have been extrapolated from the previous Friday’s impulsive spike. I remain skeptical, but if buyers are able to push the futures past the target, and thence — without correcting — past a small peak on the hourly chart at 1202.80, I’d need to put my skepticism aside, at least for the time being.

Gold’s rallies have often erupted when I was at my personal threshold of despair — but also from lows that, technically speaking, were just a tick or two from actual breakdowns (as was the case Friday morning). Whatever happens, we should keep in mind that each and every one of those rallies for the last 3+ years has been little more than a bear tease.

According to the technical method I use — my own system — turning the daily chart bullish in a way that would suggest a decisive end to the long bear market would require the December Comex — currently trading for around 1189.10 — to hit 1297.70. Moreover, the rally would need to be uncorrected once the peak at 1255.60 recorded on October 21 has been exceeded. Take a free trial subscription that will allow you to access not only the touts, bulletins, updates and impromptu trading webinars during market hours, but a 24/7 chat room that draws veteran traders from around the world.

 


| Digg This Article
 -- Published: Monday, 17 November 2014 | 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 - 2017



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

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.