Gold Strong and Stable!
Although Gold has not been going anyway for a long period of time, we can see a pattern emerging
which could be an early indication of further strength to come.
Price has declined to the weekly 50 simple moving average a number of times now and after hitting
this level we usually see strong bullish reversals.
Although the current bullish candle is not yet confirmed, as the week needs to close first,
price has again bounced off the 50sma and forming a bullish engulfing candle.
We have the $2000 psychological area of resistance above price which could act as resistance again
if price makes it back up there. Breaking that level will then mean price will be faced to battle it
out with the current all-time high at $2075.
Our positions in Gold are still being held and in small profit as we wait patiently to compound
when the right conditions are met.
As for now, we remain busy sorting through the opportunities in the stock market which is trending
strong at the moment. This is the beauty of trend-following, it allows you to diversify your portfolio
to catch the moves in other markets when one market is quiet.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
which could be an early indication of further strength to come.
Price has declined to the weekly 50 simple moving average a number of times now and after hitting
this level we usually see strong bullish reversals.
Although the current bullish candle is not yet confirmed, as the week needs to close first,
price has again bounced off the 50sma and forming a bullish engulfing candle.
We have the $2000 psychological area of resistance above price which could act as resistance again
if price makes it back up there. Breaking that level will then mean price will be faced to battle it
out with the current all-time high at $2075.
Our positions in Gold are still being held and in small profit as we wait patiently to compound
when the right conditions are met.
As for now, we remain busy sorting through the opportunities in the stock market which is trending
strong at the moment. This is the beauty of trend-following, it allows you to diversify your portfolio
to catch the moves in other markets when one market is quiet.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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