Gold has broken out of a broadening pattern on news of the BREXIT. It must hold certain levels to maintain this breakout. This is a bulletin to update Monday’s weekly report.
Upside appears limited for the intermediate term. Here’s why.
Gold has broken out through the intermediate term high but it still faces trend resistance. This is a bulletin to update the weekly report posted Monday, June 13.
The 4 week cycle projection has been reached, with a high overdue on that cycle, but short term cycle indicators remain strong and the 6-7 week cycle projection points to 1325.
In this bulletin we look at the changes this week that suggest whether gold and precious metals stocks will move higher.
Gold popped to the middle of its trading range after support held at 1208 but what has that accomplished?
Gold has hit the latest 13 week cycle projection and an important support level, but there are other signs that still point lower.
The original 13 week cycle projection of 1225 has been reached but other signs point lower.
Gold has probably entered a 13 week cycle down phase.
Gold is signaling that the top of this move may be in. This is a free Pro Trader Precious Metals bulletin updating the latest full report posted Wednesday. It is part of a series of free reports that I’ll be posting as I recover from my emergency open heart surgery on May 3. Click here to download the…