x
Breaking News
0

Gold: Still Room To Run; Test Of $1400 Eyed

By Gary SavageCommoditiesJun 05, 2016 01:07AM ET
www.investing.com/analysis/weekend-39;s-chart---$gold-(gold---spot-price)-200133985
Gold: Still Room To Run; Test Of $1400 Eyed
By Gary Savage   |  Jun 05, 2016 01:07AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

I see traders everywhere panicking. People are acting like they’ve gotten left behind. Nothing could be further from the truth.

While I’m skeptical that gold has made a final intermediate cycle low because it hasn’t dropped far enough to break the intermediate trend line yet—and the dollar should still have another leg up this month—the reality is that gold is only on day 3 of this daily cycle.

If this is a new intermediate cycle it has at least 13-16 weeks left to rally and will easily test $1400. No one has missed anything yet.

In this weekend’s report I will go over what I’m going to look for early next week to tell me if this is a new intermediate cycle, or just a very convincing fake out.


Gold Daily Chart
Gold Daily Chart

Gold: Still Room To Run; Test Of $1400 Eyed
 
Gold: Still Room To Run; Test Of $1400 Eyed

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Kuhailan كحيلان
Kuhailan2010 Jun 08, 2016 11:09PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Gary, I would totally agree with you in one case under any circumstances just to hold 1200$, and if penetrating 1305 $ then, the target it might hit 1466 $. It seems the precious metal will glow in the dark. And the USDI should towards south?..Best Regards
Ronald Peters
Ronald Peters Jun 08, 2016 2:27PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What happened to his call this would be a yearly cycle move lower? He really needs to address this.
Yankovic for President
Yankovic for President Jun 05, 2016 5:58PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
gary's on a hot streak, winning more burritos than he can eat
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
 
 
 
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google+
or
Sign up with Email