Spot Gold Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge Spot Gold Daily Remains Pulled Back And Consolidated – Expecting Another Push To Near 1340 – USD Starting To Top

Spot Gold Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

We are over bought and a pull back was expected.  We expect to see a move to near 1255.  The wildcard as mentioned many times is the USD.  A stronger USD generally drives most commodities lower.

Click on chart to enlarge Spot Gold Daily Pulling Back As USD Remains Strong – 1240-1255 Support

Spot Gold Weekly -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Technicals are well aligned and show higher prices in gold next week.  1350 resistance is about all that stands in the way of this, other than continued USD strength.  Expect move up in gold next week.

Click on chart to enlarge Spot Gold Weekly Continues Up – 1350 Resistance – USD Strength Still A Downside Threat

Spot Gold Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Gold doesn't seem to care about the rise in the USD - for now.  The Euro continues to tank driving the USD up, but gold isn't responding - this divergence won't last forever.

Click on chart to enlarge Spot Gold Daily Continues Hard Up – 1322 and 1350 Resistance – USD Strength Also Continues

Spot Gold Daily -

[Technical Indicators We Use – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]

Click on chart to enlarge Spot Gold Daily Continues Higher In The Face Of Weaker Copper And A Stronger USD – 1322 Resistance
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