LanceGo

LanceGo

Allot of people have been calling our current pattern as a clear indicator that gold will break out to the up side?However I don't think so. Iv never seen a break out look like this before. With very strong markets, I highly duet we will see much of a break out to anything past 1224. Yellen's speech has had some impact but not a great impact. A strong S&P 500...

LanceGo

As expected we have rebounded to the 1214 area. Now trading sideways with an up slant. Waiting for Yellen to testify to congress as well as FED bank panel, job claims, housing, and retail sales data. I am expecting a $15-$20 drop from current position .As projected data is expect to show a small, but positive improvement . A break of 1200, would lead to a greater...

LanceGo

Many people out there are hopeful that gold will not brake 1200. However there are just as many people hoping it will break. It all depends on witch side of the coin your on . I personally would like a bounce/rally to 1235 ( I live in hope). However the genrall consensus is gold is to go lower. Some suggest that should gold brake 1200 it want go much lower then...

LanceGo

So! I was wrong. It is hard to be right with gold this days. Gold broke the 1215. Having seen some considerable sideways trading I had thought that we would have one last small dip before going up. The dip was larger then I had thought it would be . Going from 1223 to 1228 and in turn to 1214 in mater of seconds. Now sitting $5 bellow my target bottom. We have now...

LanceGo

Many out there have been saying a fall in gold to 1200 is just a matter of time....some would even say by the end of today we will have broken 1200. 1200 is a good $23 away from current trading price of gold. I know it dos not count that much but think the growing problem ( yet again) between north korea will mitigate any drop we might see on the back of...

LanceGo

As we see, the two patternes are very similar . However as we have yet to break 1229.30 the bearish trend is still in-affect . Gold has no reason for a rally of any kind ...as yet .Markets are still strong, dollar is strong . With ADP data tomorrow....things could turn even more bearish . But I still do not see a drop past 1215. However nothing about this past...

LanceGo

I feel gold will do much as it did last week.With investors still not 100% show as to what direction gold should take strengthening markets and a strong US dollar as still playing a strong role in keeping prices down. However as with last week, even tho the dollar is strong, we will see some support from gold in form of mini rallies (between $3-$8). I belive the ...

LanceGo

As off my last chart It seems I was almost right. I prodicted gold would trade in a narrow band before reaching 1250 midd week and falling at end of the week( Last week in June). After which buyers could take action one way or another. In my view a fall was always going to happen. I must say it is plain bad Analysis to have assumed that 1240 was the base.For two...

LanceGo Updated 

After the fat lady/man song yesterday, we have seen a strong correction from the "flash crash". Even though the US dollar is steady ( has fallen a little today)...gold remans in a tight band between 1250.50 and 1253 has done for past 4 hours or so. To me this clearly suggests that investor are waiting . Waiting for Yellen's speach. However Yellen is not...

LanceGo

I think this week gold will be trading in a mostly a narrow band between 1242 and 1246. We saw todays "flash crash" lower the price all the way down to 1236. We broke the 1240 but only for a few moments before going back up. I think at the moment we are in a state of volatile correction. And believe we will see a repeat of last weeks hear nor there trading. ...

LanceGo Updated 

Lately gold has been very volatile. I see no real reason for gold to go above 1300. There is real reason for it to do so. As geopolitical and terrorist type activity become more have a prevalent , the market has become less effected . With stock markets on a high and seeming relatively stable,I see downward trend possibly forming for gold. For this year at lest...