Gold GC-Mini Market Analysis The Gold GC-mini continues to range sideways with several bars overlapping. Sellers managed to post consecutive bear bars, something they have rarely achieved in over 7 months. This indicates increasing selling pressure. Meanwhile the S&P 500 is pushing up to new highs. GC-mini price action is happening on less volume, which […]
Gold Continues to Trade Sideways
Gold GC-Mini Market Analysis TheGold GC-mini has been trading sideways for the past 4 weeks. The bear bar put a damper on the bulls ambitions to get over the 5000 psychological price point this week. There is still a prominent tail beneath the bear bar, showing the presence of determined bulls trying to prevent another […]
Gold Bull Channel and Bear Flag
Gold GC-Mini Market Analysis The Gold GC-mini printed a strong weekly bull bar closing near its high. This was the 4 consecutive bull bar, with the past 2 bars closing above the moving average with confidence. The market is always in long according to the weekly chart. The chart is also displaying information that should […]
Gold 50% Pull Backs in Both Directions
Gold GC-Mini Market Analysis The weekly Gold GC-mini chart is in a trading range following a climax. While the trend is up, the price action is becoming increasingly two-sided. This week there was bullish follow through. Printing 3 consecutive bull bars puts the market into always in long. Take note of the bull bars gradually […]
Gold Record Breaking Range on Less Volume
Gold GC-Mini Market Analysis The Gold GC-mini monthly bar printed an outside bar which was preceded by an inside bar, creating an inside-outside bar sequence. Traders will keep a close eye on how April’s monthly bar will print because inside-outside-inside bar sequences often lead to breakouts. Please refer to Brook’s encyclopedia Part 9 sections 20-23 […]
Gold Deeper Correction Then Bounces
Gold GC-Mini Market Analysis This week the Gold GC-mini saw a 474.9 point sell off. Price then bounced sharply off of $4100 closing the week near $4500. This week there was a massive bearish breakout, closing well below the key psychological level of $5,000. The transition from a bull channel to a bear trend is […]
Gold Rare 8 Day Losing Steak
Gold GC-Mini Market Analysis This week the Gold GC-mini ranged to the lows of the initial parabolic correction. Daily bears achieved a rare 8 day losing streak, creating an “always in short” environment. Take note that bulls were able to put significant tails on all of those 8 bear bars. Weekly bears closed with confidence […]
Gold Remains in a Corrective State
Gold GC-Mini Market Analysis This week the Gold GC-mini has been in a historic bull trend, but recent price action shows a parabolic wedge top followed by a deep retracement. Price continues to spend most of the time in the $5,000–$5,200 area. Price is volatile, creating opportunities for both sides. This week Bears had great […]
Gold Price Ranges near the Moving Average
Gold GC-Mini Market Analysis This week the Gold GC-mini printed more daily red bars than green, a rarity in this historical bull run. Price retreated down to the 50% of the parabolic range and subsequent correction, then bounced a little higher, ultimately finding support at the nearby daily moving average. Price is still searching for […]
Gold Bulls Get Strong Follow Through
Gold GC-Mini Market Analysis The Gold GC-mini finished the month with an inside bar closing near its extreme high. Price broke above the previous 5 week range with confidence. Keep an eye on how much distance there is between the moving average and price while considering the strength of the bars. Buyers may be willing […]
