Commodity Trade Mantra

Posts Tagged ‘Golden Cross’

Higher Gold Prices shift Sentiment back to Self-feeding Bullish Mode Again

The faster gold rallies, the more investors & speculators alike will want to buy it. While these lofty Trumphoria-distorted stock markets continue to retard gold investment demand, the big 200dma breakout is starting to overcome that. The nearing golden cross will further cement the shift back to bullish sentiment. This upleg in gold prices is set to accelerate considerably in the coming months!

Opportunities to Buy Gold Cheap Dwindling - Watch-Out for this Indicator

The trend seems to be reversing: gold is up over 20% since its December 2015 low of $1,050/oz. and over 10% since the beginning of 2017. That means opportunities to get gold “on the cheap” may be dwindling, as the most recent price hike to $1,275/oz. this week indicates. One technical indicator has proved extraordinarily reliable in forecasting larger trend changes. Here it is.

Citi: Is This The Breakout Week For Gold?

Citi’s FX Technicals group notes gold has traded above very strong resistance on the $1,350 to $1,362 range suggesting a test up to $1,434 and the next level at the 200-week moving average at $1,493. Gold is also getting close to the “golden cross” where the 50DMA will cross above the 200DMA.

Gold Price Prediction Based On Technical Analysis And China Demand

The average bull market in Gold lasted 434 days with gains of 94.89%. Projecting this historical average to the upcoming bull market, one might see gold top $2,315/oz by mid-2016. Nevertheless, the wild card China Factor may well fuel the price of gold in the next few years much above $2,315.

follow us

markets snapshot


Market Quotes are powered by Investing.com

live commodity prices


Commodities are powered by Investing.com India

our latest tweets

follow us on facebook