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 Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold Seeker Report

Northern Vertex Files Preliminary Economic Assessment Report for the Moss Gold Mine in NW Arizona
By: Northern Vertex Mining Corp.

Does The CoT Structure Prohibit A Rally?
By: Craig Hemke

Harry Dent’s Gold Prediction Invalidated
By: Przemyslaw Radomski, CFA

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
A Little Selling in Gold Elicits a Gusher of Doubts

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 15 March 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/03/Further-fall-of-85.jpg

Judging from the emails I received today and the discussion in the chat room, April Gold’s slide from 1288 to 1230 over the last two sessions has brought bears and doubters out in force. Technically speaking, however, even if the selloff were continue all the way down to $1145, a further $80 below Monday’s settlement price, that would still represent just a ‘normal’ 0.618 retracement of the explosive rally launched from early January’s lows. Would that be healthy? It would depend on whether bulls can get traction there.  But the technical damage would be negligible on the weekly chart, if not the daily. Under the circumstances, the uptrend continues to deserve the benefit of the doubt.

Looking at a bigger picture, I’ve billboarded $1308 as an important threshold at which we might reasonably infer that the bear market begun in September 2011 is over. That number marks an important ‘external’ peak recorded on January 2015.  As such, the jury is still out, since the rally has gone no higher than 1287.80 so far. Meanwhile, my hunch is that gold will remain under pressure as long as stocks are held buoyant. If that proves to be the case, gold and silver bulls may not have long to wait, since targeted Hidden Pivot resistance lies not far above in the Dow and S&Ps.

Most immediately, night owls can try bottom-fishing at 1222.30 with a stop-loss as tight as four ticks.  If it’s hit, the next place we might look for a tradable bounce is from 1217.10, a Hidden Pivot target on the 20-min chart derived that follows from a=1250.70 (1/14 at 10:40 a.m. ET). If you would like to learn more about the Hidden Pivot Trading Method, and be able to forecast trend and price swings precisely, click here.  Many who frequent the Rick’s Picks chat room have mastered it.  Meet and converse with them by taking a free trial subscription here.

 


| Digg This Article
 -- Published: Tuesday, 15 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 - 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.