Gold Analysis as At January 30, 2015

This has been an interesting week for any Gold trading strategy as the metal has been unable to reach higher ground and instead has drifted lower.

Gold may be moving inverse the the US Dollar which has been galloping higher recently.

As I have mentioned in previous posts, there is considerable resistance to a move higher for gold as illustrated on these charts,

This first chart shows a bearish Fibonacci Pattern on a weekly chart and it appears that the pattern is valid and may indicate a further decline in price

Next we have a couple Ichimoku Kinko Hiyo charts and as you can see, on both charts, price is having difficulty penetrating the resistance of the cloud.

This next chart demonstrates the resistance on the Harmonics chart.

Those charts should well illustrate the resistance that Gold is facing on a technical basis.

Fundamentally there is a lot of developments in politics and economic matters that have yet to establish a clear path for Gold.

There are some Elliot Wave chartists that are quite confident of a great upward move for Gold, alas, the timing of that move has not yet appeared.

Gold Analysis as at January 17, 2015

Your Gold Trading Strategy will have been altered significantly this week as the metal has made a strong move north.

I have a few charts with some notations for you to have a look at, below those is some current commentary which you may find of interest.


This first chart shows Harmonics and may indicate there will be a reversal.

Here is the pivots on the weekly chart, price has stalled there, at least termporarily.

The Ichimoku Cloud appears to be offering significant resistance on the weekly chart.

On this next chart, which is weekly we can see a bearish Fibonacci pattern

And on this weekly chart we have a bullish Fibonacci Pattern

Now we have the Point & Figure Chart from Stockcharts.com. They have revised the target from $1,050 to $1,510 so this weeks move had had an effect on the P&F calculations.

Swiss shock no 'game changer' for gold? - CNBC

Fri, 16 Jan 2015 12:39:36 GMT
CNBCSwiss shock no 'game changer' for gold?CNBCBut on the negative side, she said that the momentum for the Swiss franc—which surged 30 percent against the dollar on the SNB's move–created competition between the Swiss franc and gold as a 'safe haven ...

Read more ...


Gold Climbs to Four-Month High as Open Interest Surges - Bloomberg

 Fri, 16 Jan 2015 06:16:31 GMT
Wall Street Journal (blog)Gold Climbs to Four-Month High as Open Interest SurgesBloomberg“There's a lot more uncertainty in Europe and the U.S., and that's piqued a lot of investors' interest in gold,” Fain Shaffer, the president at Infinity Trading ...

Read more ...


2015 Stock Picks: Our Gold Plays Surge Ahead This Week - Money Morning

Sat, 17 Jan 2015 04:16:44 GMT
2015 Stock Picks: Our Gold Plays Surge Ahead This WeekMoney Morning'The past couple of years have seen considerable pressure on most gold equities, thanks in large part to a declining, then consolidating, gold price,' Money Morning Resource Specialis ...

Read more ...


PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013 - Reuters

Fri, 16 Jan 2015 21:51:10 GMT
PRECIOUS-Risk aversion puts gold on track for biggest weekly gain since 2013ReutersNEW YORK/LONDON, Jan 16 (Reuters) - Gold rose to a four-month high on Friday and was set to increase 4.5 percent for the week, its biggest weekly gain since August 201 ...

Read more ...