Directional Turn (Up) Anticipated for Gold

Mike Paulenoff MPtrader

Here is my updated Dec. Gold chart, overlaid on the dates of the Full Moon during 2017, which much more often than not coincide with directional turns. As of this moment, the most recent Full Moon on Nov. 4th appears to be associated with an upturn in price.

A close in Dec. Gold above 1295 will position the price structure above its Oct.-Nov. resistance line, and also will represent a thrust off of a confluence of trading and trendling MAs-- 5, 20, and 200, which usually signals the initiation of a new directional price move, in this case, to the upside.

Author

Mike Paulenoff

MPtrader

Michael Paulenoff has been a student of and a participant in the world financial markets for the past 26 years, since his graduation from the Georgetown University School of Foreign Service in 1979.

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