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

GoldSeek Radio: Raghee Horner and Bix Weir, and Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update May 20
By: David Chapman

Train Crash Preview
By: John Mauldin

Gold frequently disappoints Jim Grant, but does he understand why?
By: Chris Powell

Are You Still Fearful of Cryptos?
By: Ryan Wilday

THE SHALE OIL PONZI SCHEME EXPLAINED: How Lousy Shale Economics Will Pull Down The U.S. Economy
By: Steve St. Angelo

Ira Epstein's Metals Video 5 18 2018
By: Ira Epstein

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Roughly 2% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Silver Report
By: Ira Epstein

It’s not stagflation, but inflationary impoverishment
By: Alasdair Macleod

 
Search

GoldSeek Web

 
A Gold Chart to Stretch the Bullish Imagination

By: Rick Ackerman, Rick's Picks

 -- Published: Thursday, 7 January 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/01/Faint-stirrings-in-gold.jpg

Yesterday’s choppy rally exceeded the bullish target at 1091.10 that we’d been using to predict the course of this latest buying spree. The clear implication is that even higher prices lie ahead over the near-term. The move is especially encouraging because the target, a Hidden Pivot resistance, was a fairly important one — the highest I could have projected using the hourly chart.  Now, I’ll suggest setting an alert at 1098.10, a single tick above an important ‘external’ peak recorded on November 16. A print at that price would energize bulls for a push that could dwarf the very modest rally that has occurred since gold bottomed in mid-December near $1045.

I’ve reproduced a long-term chart lest permabulls grow excited prematurely. At the very least, just to make the monthly chart seem interesting, the futures would need to surpass the two minor peaks shown. The higher peak lies at $1232, implying a 14% rally from these levels. Thereafter, a continuing move to the green line would trip a major ‘buy’ signal for a bull-market leg that could hit $2286.  This is still (very) wishful thinking at this point, but that’s no reason to be dismissive of the relatively subdued rally that has occurred so far. For what it’s worth, it would take a rally exceeding $1433 to negate the bear-market target we’ve been using at $814. Click here for a free trial subscription that will allow you to access the chat room, Rick’s daily touts and intraday alerts, and ‘impromptu’ analysis sessions online for two weeks.

 


| Digg This Article
 -- Published: Thursday, 7 January 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 - 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.