Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Nobody Follows This Gold Chart. Maybe They Should

Published 01/05/2022, 12:22 AM
Updated 07/09/2023, 06:31 AM

Nearly everyone looks at daily and weekly charts. Some people look at monthly charts. No one ever follows the quarterly charts. Gold just closed the quarter and the month. We evaluate both the monthly and quarterly charts for Gold and Silver.

The quarterly charts reveal that Silver faces very stiff resistance at $26.60. Gold has some resistance at $1900. A quarterly close above $1900 for Gold and its smooth sailing.

The 40-month moving average for Gold, at $1634 could reach $1670 in mid-March when the Fed could execute its first interest rate hike. That would solidify the double bottom support at $1670.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.