Close above the 200-day moving average for gold, but…..

GOLD 6-Month Daily Chart

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Major and intermediate downtrend for gold

GLD ETF 5-Year Logarithmic Chart

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Break for gold below support of 1200

Gold 3-Year Weekly Chart

The technical negatives for gold:

• Major,intermediate and near-term downtrends
• Trading below the 200-day and 50-day moving averages
• Break below major support of 1200

Why? I usually leave this to the talking heads.

• Rise in the US$
• Rise in interest rates as per the 10-Year US Treasury
• The Fed will raise interest rates sooner then later
• No perceived need for a safe haven play at the present time

Reference the last chart analysis for gold.

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“We are all students of the market.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

Major trend for gold is down

Gold 3-Year Weekly Chart

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“Always trade in the direction of the major trend”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca