Gold Technical Analysis: Metal remains undecided below the 1465 level
Gold is starting December pressuring the 1465 resistance level while below the 50/100 SMAs. However, the bear case would entail a break below the 1445 swing low on a daily closing basis for a potential dive to the 1400 figure near the 200-day SMA.
Someone Is Betting On $4,000 Gold
Gold got an opportunity to trade without the price manipulators breathing down Gold's rise... And so the shiny metal, even with little volume, found a way to end the week up about $10 from where I last talked to you last Tuesday... I would have like to have seen Gold's move be greater in numbers without the price manipulators, but I'll take $10 and be a happy camper! But guess who's back at their desks today? And from the looks of it, they are already catching up, as Gold is down $6.40 in the early trading this morning...
Speaking of Gold... Jared Dillian of the 10th Man newsletter recently ran a survey, and among the questions he asked, was this one: What do you think the best medium term investment is with a time horizon of 4 years? Of individual stocks, mutual funds/ index funds, real estate, bonds, savings/cd's, and Gold, guess which one was the leader? That's right Gold! Gold beat individual stocks! Now that was a survey of 10,000 responses... I guess he asked the right people, because, from my view in the cheap seats, I would think the average joe six pack would say individual stocks, and not Gold...
|Today last price||1464.26|
|Today Daily Change||0.32|
|Today Daily Change %||0.02|
|Today daily open||1463.94|
|Previous Daily High||1466.62|
|Previous Daily Low||1453.1|
|Previous Weekly High||1466.62|
|Previous Weekly Low||1450.74|
|Previous Monthly High||1515.38|
|Previous Monthly Low||1445.8|
|Daily Fibonacci 38.2%||1461.45|
|Daily Fibonacci 61.8%||1458.26|
|Daily Pivot Point S1||1455.82|
|Daily Pivot Point S2||1447.7|
|Daily Pivot Point S3||1442.3|
|Daily Pivot Point R1||1469.33|
|Daily Pivot Point R2||1474.73|
|Daily Pivot Point R3||1482.85|
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